Managing your Personal Finances
Do you know where your money goes? Financial planners will ask you to carry a notepad and keep track of every penny you spend.
DetailsDo you know where your money goes? Financial planners will ask you to carry a notepad and keep track of every penny you spend.
DetailsIt is important to keep your obligations taken care on a timely manner. If you do not have an assistant, you will need a system to keep things in order. Today, there are many apps that can help you deal with many demands that life brings on a daily basis. I am sharing with you a primitive system I use to deal with my own bookkeeping and it works for me.
DetailsApril is here. Last month to get our papers and records organized to file our income taxes for 2014. To be more precise we are less than two weeks away from the deadline. Are you ready?
DetailsIt is that time again…it’s Tax Season…Are you ready? Some of you may have it all organized and some may not even know where to start. Many clients have already started booking their appointments to get their documents organized and their filing prepared, so I decided that I would share some tips on how I…
DetailsOne of the differences in having a good set of Books is communication. Do you have a system so you can communicate what matters to your Bookkeeper and/ or Accountant?
DetailsDid you know that if you have more than one employer in a year, you will probably be hit with tax payable at the end of the year?
DetailsHave you heard about IVI Audit? It means you may be subject to Indirect Verification of Income. If the deposit does not match what you filed on your income tax return, the auditor will ask for an explanation. Will you remember two to three years from now where that money came from?
DetailsI understand that many start ups will not hire a Bookkeeper right away. However, good Bookkeeping is an integral part of running any business. You need to know your numbers in order to make the changes needed to get you where you want to go. You do not want to find out 12 months from now that you were not making money.
DetailsIf you make donation to an institution on a monthly, quarterly or yearly basis, make sure you can track where the payment came from. I would suggest that you write a cheque or set up an automatic withdrawal. In case CRA wants to assess or audit your books, you can easily track and prove your claim.
DetailsGo to CRA website and register for the service my Account. It allows individuals to track their refund, view or change their return, check their RRSP limit, print T4 slips, etc. The same service is available for Businesses as well.
Details© 2018 Renata Magalhaes