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KSO Accounting Group Blog
Happy Thanksgiving! – Office Closed
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...
BC PST Rebate Filing Deadline – October 3rd, 2022
In connection with the Covid-19 epidemic, the Province of British Columbia established the PST Rebate on Select Machinery and Equipment. This temporary program offers...
B.C. PST rebate on select machinery and equipment
The Province of BC is offering PST rebates on purchases made by most incorporated businesses, of certain machinery and equipment (see https://www2.gov.bc.ca/gov/conten...
COVID-19
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 P...
Protecting Yourself from Scammers
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 indi...
Advantages of a Tax Free Savings Account
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 pr...
Tax Gap Estimate
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)...
Accelerated Capital Cost Allowance
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 proce...
Speculation Tax
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 ...
Automobile Rates for 2019
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 implicatio...
Tax Free Savings Account Advantages
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 pr...
The Real Cost of Robo-advising Services
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...
Referendum on Voting in British Columbia
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 Ele...
Dealing With CRA – The Audit
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....
Hospitality Staff: Tips and Taxes
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 “P...
US estate tax exposure for Canadians owning USA stocks.
Written by: Howard Karpes, CPA, CGA What country would think it could tax the deceased citizen and resident of another country? The United States of America, that’s...
PayPal is forced to disclose to the Canada Revenue Agency
A court order is forcing PayPal to disclose sales made by business accounts between January 1, 2014 and November 10, 2017. What does this mean? If you have a...
Saving For Your Children’s Future
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 a...
Buying vs Leasing
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 ...
Beware of Hackers
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 ...
Business Start-Ups and Failure
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 ...
CPA Level Bookkeeping
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 Septem...
Tax Planning Using Private Corporations
Written by: Rose Ottesen Recently the government issued a new paper titled “Tax Planning Using Private Corporations”. The government feels that, in some cases, pr...