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KSO Accounting Group Blog

October 7, 2022

Happy Thanksgiving! – Office Closed

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KSO Accounting Group would like to wish everyone a very Happy Thanksgiving. We are thankful for the opportunity to help make life easier for our clients, and look forward to continued growth and success together. Our offices will be...

KSO COVID
March 17, 2020

COVID-19

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To Our Valued Clients, In the midst of the COVID-19 pandemic, we are aware that the daily lives of many people have been affected. The priority at this time from the Provincial and National health authorities is to take extra measures in...

KSO Accounting Online Security Data Protection
February 4, 2020

Protecting Yourself from Scammers

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As tax season approaches, it is especially important for taxpayers to protect themselves and their personal information from scammers. Following is a list of some indicators that a phone call, voicemail message or email is NOT from the C...

Piggy Bank for Accounting
January 28, 2020

Advantages of a Tax Free Savings Account

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The Tax Free Savings Account (TFSA) was created on January 1, 2009 with the intention of helping Canadians 18 and older to save money. The purpose of the TFSA is to provide Canadians with the opportunity to save money and earn investment...

Accounting Calculations Professional
September 3, 2019

Tax Gap Estimate

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Written by: Thomas Hirt, CPA, CGA Mark Twain – “There are three types of lies:  lies, damned lies, and statistics.” In June 2019, the Canada Revenue Agency (CRA) released a fifth report , “Tax Gap and Compliance Results for the F...

Professional Accountant In Office Financial Planning
January 29, 2019

Accelerated Capital Cost Allowance

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For capital assets purchased after November 20, 2018, a new accelerated capital cost allowance has come into effect.  For equipment used in the manufacturing or processing of goods or specified clean energy equipment, these rules will a...

Accounting Professional with Calculator Financial
January 29, 2019

Speculation Tax

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The Speculation and Vacancy Tax is an annual tax paid by some owners of residential properties in designated taxable regions of BC. All residential property owners in the taxable regions must complete a declaration by March 31, 2019. The...

January 22, 2019

Automobile Rates for 2019

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Whether you are self-employed, use your vehicle for work, given a monthly car allowance, reimbursed for vehicle expenses or given a company vehicle, the tax implications can be difficult to unravel.  For each situation there can be tax a...

Piggy Bank for Accounting
January 15, 2019

Tax Free Savings Account Advantages

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The Tax Free Savings Account (TFSA) was created on January 1, 2009 with the intention of helping Canadians 18 and older to save money. The purpose of the TFSA is to provide Canadians with the opportunity to save money and earn investment...

December 11, 2018

The Real Cost of Robo-advising Services

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Written by: Evelyn Suvajdzic, CPA, CGA I read a recent article in Business in Vancouver written by Albert Van Santvoort regarding investing fees in traditional finance firms versus robo-advising services.   All costs may not be clearly e...

October 22, 2018

Referendum on Voting in British Columbia

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Written by: Howard Karpes, CPA, CGA This October 22nd,  2018 we in British Columbia (BC) will be voting on whether to change the voting style for future Provincial Elections.  If you want, you can read the 114 page document “How we Vot...

Accounting Services - Bookkeeping Services Finance
August 21, 2018

Dealing With CRA – The Audit

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Written by: Evelyn Suvajdzic, CPA, CGA During audits, I am frequently asked by clients if the Canada Revenue Agency is entitled to the information they have requested.  The Income Tax Act of Canada gives very broad powers to the CRA audi...

June 6, 2018

Hospitality Staff: Tips and Taxes

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Written by: Evelyn Suvajdzic All servers in the restaurant industry take heed; the CRA wants to tax what you make in tips!  A recent article by Peter Shawn Taylor in “Pivot”, the Canadian CPA magazine, talks about a couple of audits the...

November 14, 2017

Saving For Your Children’s Future

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RESP’s – Are You Maximizing Your Child’s Education Savings? We all know how expensive a post-secondary education can be and how important it is to start saving as early as possible. A Registered Education Savings Plan (RESP) can be...

Accounting Services - Real Estate Estate Planning
November 6, 2017

Buying vs Leasing

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Written by: Evelyn Suvajdzic Clients often ask me if they should lease or buy a vehicle.   Invariably the question is brought on by a lease dealer stating that, for a little money down and low monthly payments, you can drive a brand new ...

October 23, 2017

Beware of Hackers

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Written by: Evelyn Suvajdzic Do you think your computer system is secure?  The international Monetary Fund’s system was breached last June; theirs is one of the most secure systems on the globe.  Lockheed Martin, the defense and securit...

October 10, 2017

Business Start-Ups and Failure

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There are more and more Canadians starting their own business and it is thought that as many as 3.2 million are thinking of starting a business.  An Ipsos-Reid survey showed that 2.8 million existing small and medium-sized business owner...

Accounting Services - Bookkeeping Services Finance
September 13, 2017

CPA Level Bookkeeping

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Written by: Evelyn Suvajdzic In our quest to provide proven business solutions to make life easier for our clients, I would like to share a recent read from the September issue of BC Business regarding the advantages of CPA-level bookkee...

August 22, 2017

Tax Planning Using Private Corporations

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Written by: Rose Ottesen Recently the government issued a new paper titled “Tax Planning Using Private Corporations”.  The government feels that, in some cases, private corporations are used in order to take advantage of tax planning...