Most accountants know the best way to streamline an accounting practice is to successfully apply technology. But an often-overlooked aspect of streamlining an accounting practice is becoming more strategic about partnerships. So, this post will describe how working with a family office can help streamline an accounting practice and refocus on higher value clients. Managing records, bookkeeping, and reporting can be...
Following political pressure for Canadian charities to spend more of their capital, the federal government announced in their 2022 budget that the Disbursement Quota (“DQ”) for registered charities will be raised to 5%. This post describes the latest changes to the disbursement quota and how they may affect your private foundation.
Unsurprisingly, the Canada Revenue Agency (CRA) demands taxes be paid in Canadian dollars. This is simple enough when you earn income in Canada, since you were likely paid in Canadian dollars anyway. Your Canadian based investments are also likely quoted in Canadian dollars, which makes reporting your investment income based in Canada simple as well. But, what happens when you make...
