What is that saying? The only two things certain in life are death and taxes. I cannot say for sure if these are the only two things certain in life but they definitely are certainties.
How to navigate death and taxes
When a taxpayer dies,…
https://rmllp.ca/wp-content/uploads/2022/01/death-and-taxes.jpeg6001200Bobi Millerhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngBobi Miller2021-11-30 10:36:532022-01-11 10:47:31Death and Taxes
To Incorporate or Not to Incorporate
Should I Incorporate my business... This is a very common question, and the answer isn’t always clear. It depends on your current situation, your future plans, and some best/worst-case scenario analysis.…
https://rmllp.ca/wp-content/uploads/2021/11/When-Should-I-Incorporate-My-Business.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-11-15 15:16:122021-11-15 15:27:29When Should I Incorporate My Business?
The events of 2020 and 2021 have caused a significant push for businesses to pursue the E-Commerce route. It’s tough to sell your product if your retail location is forced to close. It’s also tough to sell your handcrafted items if the markets…
https://rmllp.ca/wp-content/uploads/2021/11/ecommerce-business-accounting-mistakes.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-09-06 12:49:222021-11-16 10:02:48Top Accounting Mistakes of Ecommerce Businesses
Medical benefits can be a great way to provide additional non-taxable compensation to your employees. There are many different plans available to even small and medium businesses. Whether you’ve got a health spending account or a medical insurance…
https://rmllp.ca/wp-content/uploads/2021/08/Medical-Benefit-Mistakes-Made-by-Canadian-Entrepreneurs.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-08-11 10:53:242022-01-11 11:10:43Most Common Mistakes Medical Benefit Mistakes Made by Entrepreneurs
When Bob’s Trucking Inc. started experiencing cash flow problems, Bob found his company was unable to pay all of its bills. He decided to use the money the company did have to pay for fuel and employees to continue operations because without…
https://rmllp.ca/wp-content/uploads/2021/07/business-debts-header.jpeg6001200Bobi Millerhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngBobi Miller2021-06-21 10:42:482021-10-19 11:21:29Are you personally liable for your business debts?
Truckers spend more than 300 days each year on the road.
That doesn't leave a lot of time to spend on managing your finances.
For those in the trucking industry, having an accountant on your team is crucial to the success of your business.
https://rmllp.ca/wp-content/uploads/2021/05/trucking-accountant.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-05-17 11:16:512021-10-19 11:21:37Taxes & Trucking: How to Choose the Right Trucking Accountant
Behind every small to medium enterprise is a person. Does your corporate tax strategy consider the person that is the entrepreneur?
A tax strategy should consider both the corporate tax AND personal tax implications.
What mix puts the most…
You are officially caught on CRA's radar…
CRA is auditing or reviewing your information
Your filings have been arbitrarily re-assessed
The collections department is harassing you
No matter what the reason, dealing with the Canada…
https://rmllp.ca/wp-content/uploads/2021/02/CRA-audit-blog.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-04-05 12:24:202021-10-19 11:21:50How to avoid the Crash and Burn
I have often heard from entrepreneurs that it is difficult to obtain a mortgage to buy a home. Business owners can be viewed as a higher risk than the typical employee. As a result, obtaining financing at a preferred mortgage rate is challenging.
https://rmllp.ca/wp-content/uploads/2021/04/Mistakes-Entrepreneurs-Make-When-Trying-to-Buy-a-Home.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-03-15 17:12:392021-10-19 11:21:57Top 9 Mistakes Entrepreneurs Make When Trying to Buy a Home
It’s everyone’s favourite time of year - Tax Time! This is the time of year where you get to enjoy putting together your documents and filing tax returns! Or if you are a client of Richardson Miller LLP, we do the heavy filling for you.…
Negotiating and signing your commercial lease can be a substantial investment for your business. It's critical that you're aware of what you are committing to. While it's tempting to save the professional fees on this process, a poorly written…
https://rmllp.ca/wp-content/uploads/2021/02/negotiating-your-commercial-lease-blog.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2021-02-01 10:27:432021-10-19 11:22:11Top Six Tips for Negotiating Your Commercial Lease
The ongoing discussion of Salary versus Dividends has got to be one of the oldest debates since the dawn of complex taxation. Over the years, I’ve heard many people (accountants included) preach that dividends are the way to go. I cringe at…
https://rmllp.ca/wp-content/uploads/2021/12/salary-versus-dividends.jpeg6001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2020-12-14 10:37:592021-10-19 11:22:19Salary versus Dividends
How does Covid-19 Impact Your Company Holiday Plans?
December 2020 corporate celebrations will be drastically different than previous years. Would you typically host a party for your staff and their spouses?
These types of events are either…
GST QUICK METHOD
If your business is operating at revenue of $400,000 or less, you need to stop what you are doing and read this!
Canada Revenue Agency (CRA) offers an elective GST filing method for small businesses who have less than $400,000…
The holiday season is fast approaching. With 2020 providing us ample opportunity for re-evaluating our values and priorities, have your corporate holiday plans changed? What are your plans for gifting to your employees?
Here are the rules:
https://rmllp.ca/wp-content/uploads/2020/12/rmllp-edmonton-accountant-blog-creative-gifts-01.jpg4281099Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2020-11-14 17:29:192021-10-19 11:22:37Creative Gifts for Employees
That’s right. No auto-correct here—I meant it. With many cities implementing mandatory masks in public, we are missing out on a significant portion of our non-verbal communication options. Many of us can admit to over…
The COVID-19 pandemic and resulting lockdowns have brought on a huge shift for people to work from home. Several business leaders have determined that having employees work from home is entirely possible and a great way to reduce overhead costs.…
https://rmllp.ca/wp-content/uploads/2020/10/working-from-home-rmllp-edmonton-accountant.jpg4281099Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2020-10-19 08:13:182021-10-19 11:24:07Working From Home
We’re still open and here to help. We are just not taking face to face meetings. We can do a lot via email and our secure online portal.
With the extended tax deadline, we’d encourage people NOT to wait to get their personal taxes…
What does CRA require of an employer?
If you are a business owner and have employees, you know the challenges that can come with managing people. Hiring the right people, maintaining schedules, workloads, employment standards, and conflict…
https://rmllp.ca/wp-content/uploads/2019/11/cra_employer_responsbility.png428860Bobi Millerhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngBobi Miller2019-11-12 11:54:402021-10-19 11:24:28Being the Boss is a Lot of Work!
Have you heard of the T5018 slip?
Did you know that if your business is operating in the construction industry, you may be required to file an annual T5018 Statement of Contractor Payments with Canada Revenue Agency (CRA)?
https://rmllp.ca/wp-content/uploads/2019/10/contractor.png431864Bobi Millerhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngBobi Miller2019-10-15 13:56:482021-10-19 11:24:36Contractor Reporting – The T5018 Slip
What constitutes a business expense?
I get this question ALL the time from my business clients.
As a general rule, expenses must be incurred with the purpose of earning business income. The expenses must be reasonable and justifiable. I’ve…
https://rmllp.ca/wp-content/uploads/2019/09/business_expense.png426861Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2019-09-16 09:42:182021-10-19 11:24:43What Can I Expense Through My Corporation?
Choosing the right account is important.
In a previous article, I discussed what CPA means and why it is important to choose an accountant with the CPA designation. Now I want to talk about other considerations when choosing an CPA that is…
https://rmllp.ca/wp-content/uploads/2019/08/Choosing_your_accountant.png427858Bobi Millerhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngBobi Miller2019-08-14 11:07:082021-10-19 11:24:55Choosing Your Accountant
CPA makes a difference in your protection
Have you ever looked for professional accounting services and been overwhelmed by the number of businesses to choose from? Have you ever noticed some of these companies have a Chartered Professional…
https://rmllp.ca/wp-content/uploads/2019/06/What-does-CPA-mean.jpg6281200Bobi Millerhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngBobi Miller2019-06-15 10:48:292021-10-19 11:25:04What does CPA mean?
Getting paid should be easy.
Many entrepreneurs struggle with cash flow and wish they had more money in the bank. One of the most significant keys maintaining a healthy cash balance is collecting accounts receivable in a timely manner.
Profit and Loss Statements Don't Tell The Whole Story
Your profit and loss statement showing you positive numbers. Yet you are struggling to find the cash to pay your bills on time. Or perhaps your sales volume has increased but you have less…
https://rmllp.ca/wp-content/uploads/2019/04/blog-real-estate-investing-who-when-and-how.jpeg462822Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2019-04-02 10:07:312021-10-19 11:25:27My Company is Profitable… So WHY AM I BROKE???
Is your choice of Corporate Year-End timing critical?
You’ve incorporated… did you know that you can CHOOSE when your year-end can be? It’s true! You do not have to have a December 31 year-end. This is a very common misconception.
https://rmllp.ca/wp-content/uploads/2019/02/calendar.jpg8001200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2019-03-04 12:52:582021-10-19 11:25:38How To Choose a Corporate Year End
New Entrepreneur Check List:
Brilliant idea? Check.
Endless passion? Check.
Supernatural ambition? Check.
Nerves of steel? Check.
A clear vision of success? Check.
An accountant? …. WHAT? WHY? …I haven’t…
https://rmllp.ca/wp-content/uploads/2019/02/Starting-new-business.jpg6861200Angela Richardsonhttps://rmllp.ca/wp-content/uploads/2018/12/rm-llp-logo-colour.pngAngela Richardson2019-02-11 11:44:442021-10-19 11:25:48Why Enlist an Accountant from Day One
#209, 16504 – 118 Avenue
Edmonton, Alberta T5V 1C8
8:30 am – 4:30 pm
Sat – Sun & Holidays:
Edmonton Chartered Professional Accountants. An experienced, knowledgeable professional accountant is an integral part of a successful entrepreneurial team. We offer clear, understandable accounting advice.
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