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Federal Budget Commentary Article

March 23, 2017 by

Federal Budget Commentary Article If you have any questions regarding the Federal Budget or its impact on you or your business, please contact us. We hope you find our Commentary informative. To assist you with other budget-related inquiries, please call our Federal Budget Hotline at (416) 499-3101. March 22, 2017 CPA Canada: Federal Budget Commentary
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Form T2200 – Declaration of Conditions of Employment

Posted in Advice For You
March 16, 2017 by

It is personal tax filing time again! At this time of year, many employees will ask their employer for a signed T2200. There is much confusion surrounding an employer’s obligation to complete this form. A completed T2200 certifies that certain conditions of employment exist which require an employee to incur out-of-pocket expenses in the course
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Payroll – Common Canada Revenue Agency (CRA) Audit Adjustments

Posted in Advice For You
March 13, 2017 by

The listing below highlights the common adjustments after a CRA payroll audit. Employers are not completing Form T4A concerning payments for services to independent contractors. Employers are not properly calculating the automobile standby charge and operating expense benefit on employer owned vehicles. Employers are paying flat rate vehicle allowances but not reporting them as a
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CRA’s Annual Audit Letter Campaign

March 11, 2017 by

The Canada Revenue Agency (CRA) annually sends audit letters to selected taxpayers. Letters sent in early 2017 will mark the eighth annual audit letter campaign initiated by CRA. This year the CRA will send approximately 30,000 “intent to audit” letters to individual taxpayers and business owners who continually report business and rental losses. They are
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Term Loans: Is a Term Loan Right for Your Business?

Posted in Advice For You
November 22, 2016 by

Are you looking for cash funding to grow or maintain your business? When business owners think about financing from a bank, they’re usually thinking about procuring a “short term loan.” A term loan offers a business owner a cash payment that is to be paid back in installments over a specified period of time. For the duration
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Newton’s Electric Open House

Posted in HSS BlogAdvice For You
September 8, 2016 by

Newton’s Electric Open House From May 13-14, 2016, Newton’s Electric, an electrical and automotive company in Brampton, hosted an open house event for their customers and suppliers. As Newton’s Electric is one of our clients, we wanted to support this special open house event. To show our support, we set up a vendor booth for
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Welcome to the team!

Posted in HSS BlogAdvice For You
December 7, 2015 by

We’re pleased to announce that our team is growing. We’d like to welcome our new hires Ron Batas, Nabiha Hossain and Michael Mueller to the Hogg, Shain & Scheck team! Ron has recently graduated from Schulich with his MBA after becoming a Chartered Professional Accountant in 2007. He has worked primarily in the assurance area,
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Planning a Successful Sales Meeting

Posted in Advice For You
November 27, 2015 by

Plan your meeting by setting the rules and desired outcome Start on time and finish on time Identify the meetings main purpose and plan your agenda accordingly Always start with a review of the big wins or success stories – this puts everyone in positive frame of mind Most sales meeting main purpose and plan
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Withholding Tax On U.S. Dividends

Posted in Advice For You
July 7, 2015 by

U.S. (and other foreign) dividends do not qualify for the Canadian dividend tax credit.  Therefore, these foreign dividends are taxed at your marginal tax rate, similar to interest income. In order to avoid double taxation, you can claim the 15% U.S. tax withheld as a foreign tax credit.  If more than 15% U.S. tax was
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