In today's dynamic business world, the accuracy and reliability of financial statements hold immense significance for both businesses and stakeholders. As Montreal accountants and bookkeepers, we understand that financial statements are the lifeblood of any organization, serving as a comprehensive snapshot of its financial health. However, with increasing regulatory complexities and evolving accounting standards, the task of reviewing and auditing these statements has become more intricate than ever before. In this blog, we delve into the realm of financial statement review and auditing, exploring the best practices that ensure accuracy, compliance, and transparency.

Accounting Montreal wishes you and your family a happy and safe holiday season and all the best for the New Year 2023!

Do you want to reduce your income tax bill? At Accounting Montreal, we offer the best solution to get the best financial advice. When it comes to Personal Tax Planning, our objective is to ensure that you receive personalized tax planning services tailored to your unique financial needs. Using our experience, professional accounting knowledge, judgment, and financial skills, we will help you save on taxes, accomplish your financial goals, and preserve your standard of living while respecting the Income Tax Act.

Original Article Source Credits:   Taxtips , https://www.taxtips.ca/

Article Written By:  NA

Original Article Posted on:  May 20, 2021

Link to Original Article:  https://www.taxtips.ca/glossary/smallbusinessdeduction.htm

Original Article Source Credits:   Newswire , https://www.newswire.ca/

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Original Article Posted on:  May 20, 2021 

Link to Original Article:  https://www.newswire.ca/news-releases/tax-tip-how-to-change-your-income-tax-return-after-you-file-it-881373014.html

Filling out your tax returns and maintaining tax records can be daunting as the process is complicated. The laws regarding taxes are also constantly changing as they are adjusted each year, making it difficult for taxpayers like you to determine which ones apply to you. You might also end up making mistakes that could lead to hefty fines from the IRS. In some cases, by the time you have your taxes figured out, you may be running too close to the deadline and have to wait even longer for your returns.

Original Article Source Credits:   TaxTips.ca , https://www.taxtips.ca/

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Original Article Posted on:  February 23, 2021

Link to Original Article:  https://www.taxtips.ca/filing/taxfilingmethods.htm

Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Christopher Liew, CFA 

Original Article Posted on:  February 24, 2021 

Link to Original Article:  https://www.fool.ca/2021/02/24/cra-3-mistakes-to-avoid-when-filing-your-2021-taxes/

Original Article Source Credits: Government of canada, https://www.canada.ca

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Original Article Posted on: NA

Link to Original Article: https://www.canada.ca/en/revenue-agency/services/tax/businesses/small-businesses-self-employed-income/checklist-small-businesses.html

Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  The Canadian Press

Original Article Posted on:  October 14, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/taxpayer-watchdog-to-monitor-how-cra-handles-pandemic-stressed-taxpayers/

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Jamie Golombek

Original Article Posted on:  Oct 30, 2020  

Link to Original Article:  https://financialpost.com/personal-finance/taxes/these-end-of-year-tax-tips-will-help-those-who-received-cerb-and-other-pandemic-benefits

Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Michelle Schriver

Original Article Posted on:  October 30, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/prepare-now-for-tax-fallout-from-covid-19-says-tax-expert/

Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  October 5, 2020  

Link to Original Article:  https://www.canada.ca/en/revenue-agency/news/2020/10/the-government-of-canada-launches-applications-for-the-canada-recovery-sickness-benefit-and-the-canada-recovery-caregiving-benefit.html

Original Article Source Credits:   CBC News , https://www.cbc.ca/

Article Written By:  John Paul Tasker

Original Article Posted on:  Sep 27, 2020 

Link to Original Article:  https://www.cbc.ca/news/politics/free-automatic-tax-returns-benefits-1.5739678

Original Article Source Credits:   CANADA , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  2020-08-25

Link to Original Article:  https://www.canada.ca/en/revenue-agency/services/about-canada-revenue-agency-cra/when-you-money-collections-cra/corporate-debt.html

Original Article Source Credits:   CBC News , https://www.cbc.ca/

Article Written By:  Richa Syal

Original Article Posted on:  Aug 21, 2020

Link to Original Article:  https://www.cbc.ca/news/canada/cerb-ei-covid-benefits-1.5695448

Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Christopher Liew, CFA 

Original Article Posted on:  August 31, 2020

Link to Original Article:  https://www.fool.ca/2020/08/31/canada-revenue-agency-1-huge-deadline-change-for-2020-taxpayers/

Original Article Source Credits:     Advisor's Edge , https://www.advisor.ca/

Article Written By:  Rudy Mezzetta

Original Article Posted on: August 27, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/cra-adds-t4-reporting-requirements-to-validate-benefit-payments/

If you are new to the world of business, there are several crucial elements in this territory that you need to get acquainted with, and one of them is corporate taxes. Corporate tax or corporation tax is a percentage of your company’s net income that must be paid to the Canadian government. Paying corporate taxes is mandatory for most business establishments, and non-payment of this tax or filing it after the due date can lead to challenges from the Canadian Revenue Agency (CRA).

Tax preparation and filing of tax returns can be a time-consuming and grueling affair. Whether you’re filing your income tax returns or preparing your corporate tax plan, you need to be very careful as even the smallest of mistakes could end up costing you thousands of dollars. Enlisting the services of a professional who can provide individualized personal tax and corporate tax services will help make this process more manageable and alleviate some stress.