Entries by Maureen

Reducing Canadian Payroll Taxes with a Tax Waiver

You may be able to reduce your payroll tax deductions if you pay for child care, make regular contributions to a Registered Retirement Savings Plan (RRSP), or have other expenses that are deductible for tax purposes.

2 Great Accounting Software Deals for Businesses

I’ve been in the accounting, tax preparation and training business for a number of years. And over those years, I’ve developed some great relationships with customers and vendors. So it has to be big for me to get excited about sharing these 2 great deals for businesses.

QuickBooks 2014 Payroll Update

I’ve received a number of emails lately regarding problems updating QuickBooks 2014 Payroll. Even though customers are registered for QuickBooks payroll, the automatic updates are not recognizing payroll which expires June 30, 2014. At our office some of the computers updated payroll automatically with an expiry of December 31, 2014 while others didn’t. We are all on the same Windows operating system.

3 Rs of Child Care – Rules, Receipts and Regulations

Here at The Montana Group, we do the bookkeeping for 2 large Child Care facilities located in York Region. Whenever I get an opportunity to discuss challenges of the industry with the Executive Directors, I’m surprised and impressed by the regulations in place to help protect the children. During tax season I regularly inform clients of the rules pertaining to claiming child care expenses and the receipts that are required. The following is a summary of my discussions regarding the 3 Rs of Child Care:

The Montana Group – Offering Bookkeeping Services for Realtors

Are you a Real Estate Agent in the Newmarket area? In this busy real estate season, do you struggle with filing your own paperwork on time to avoid government penalties? Do you have a solid handle on your financial position? Did you know the Montana Group offers excellent bookkeeping services for Realtors?

Canadian EI (Employment Insurance) and Family Members

Last week a client of mine received a PIER report requesting that he pay the employee’s EI that wasn’t deducted on the earnings shown on the T4, and the employer portion of the EI. When preparing payroll in the summer of 2013 he didn’t deduct EI from his daughter’s earnings, but the T4 showed insurable earnings and no contribution. His question to me once he received it was “Why do I have to pay EI on my daughter. She’s only 14 and I don’t have to pay it on my wife?”

QuickBooks Tips and Shortcuts

Whether you’re trying to catch up on your 2013 bookkeeping in preparation for 2013 tax returns, or have decided this is the year to do the bookkeeping correctly, I thought sharing these QuickBooks tips & shortcuts might make your life easier.

Living Gluten Free and Your Canadian Tax Dollars

According to the Canada Revenue Agency (CRA), persons who suffer from Celiac Disease (gluten intolerance), are entitled to claim the incremental costs associated with the purchase of gluten-free (GF) products as a medical expense.

QuickBooks Check-up Service – Are You Audit Proof?

Are you doing your own bookkeeping or currently pay someone to do it on your behalf? Have your ever questioned whether everything is done correctly and could you survive a Canada Revenue Agency (CRA) audit? And if it is done correctly have you ever wondered if there are possible additional deductions or expenses being missed that could help you reduce your tax liability, whether corporate, personal or HST taxes? Then maybe this is the time to book your QuickBooks Check-up Service.

Payroll – In-House or Service Provider?

As payroll calculations and T4 preparation become more specialized each year, clients frequently ask the question; should we do payroll in-house or should we subscribe to a service provider? As owners and bookkeepers try to make sense of the ever changing rules regarding taxable benefits and T4 reporting, there are a number of considerations. If […]