Click here to download step by step instructions on how to download your bank transactions from your CIBC bank account for us to complete your year end. Please remember to choose the correct dates based on your year end!
Is your money protected by the CDIC? Keep reading below to find out how to keep your hard earned money safe.
Tiền của bạn có được bảo vệ vởi CDIC không? Hãy đọc để tìm hiểu làm thế nào để gởi tiền của bạn cho an toàn. Vietnamese posting here.
The CDIC insures eligible deposits in banks, trust companies and loan companies against loss in case of member failure, BUT only to a maximum of $100,000 (principal and interest) per depositor, per category listed below:
- In one name: Savings/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
- In more than one name: Savings/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
- In Trust: Savings/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
- In RRSPs: Eligible deposits Savings Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
- In RRIFs: Eligible deposits Savings Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
- In TFSAs: Eligible deposits Savings Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
- Eligible deposits for realty taxes on mortgages: Savings Accounts/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
Uninsured products include:
- mututal funds, stocks and bonds,
- Term Deposits (GICs) with original terms to maturity of 5 years +
- foreign currency deposits
The CDIC has a nice infographic here which lists the remainder of the uninsured products.
WCB insurance provides your employees with benefits and services after an injury happens. You may have to sign up for WCB coverage for your employees. Please contact WCB Alberta to find out if WCB coverage is mandatory for your corporation. If so, you must open an account within 15 days of hiring your first worker.
If your corporation is an exempt industry you can voluntarily apply for WCB coverage for your employees.
As a business owner, you are not automatically covered by WCB but coverage is available and automatically renews every December 31st. Please remember to base your coverage on your actual EMPLOYMENT EARNINGS (earnings before taxes). If injured you will need to provide records to prove your employment earnings such as your T1 general or T4 slip.
Annual returns must be submitted before the last day of February each year to avoid penalties. At the beginning of the year you will receive a letter from WCB with your Annual Return Password. If our office prepares your payroll please remember to forward the letter to our office so we can help you file your return on time!
Alberta is one of the few places you can go from the bottom to the top.
Don’t be at the end of of the trickle
Which one are you?
- Pessimist = Complain about no jobs.
- Optimist = Hope the job market improves.
- Winner = Creates jobs – or at least one for yourself – follow framework below and throughout blog.
- Alberta is a monster economy and even during a recession Alberta’s per capita GDP exceeds $80K – on par with Switzerland’s and nearly DOUBLE the rest of Canada and Europe. It takes a million more Norwegians to generate the same money as Albertans.
- If you live in Edmonton there is money everywhere. PCL Construction generated record revenues of $8.5 billion in 2015 and is on track to reach $9 billion this year.
- The Swiss have a wealth-based taxation system that is easier on the average worker. While the Alberta system is supposed to be progressive – up to 48% for the highest bracket, business owners can escape these taxes with strategic planning. For example, in 2016, a well executed strategy would have someone pay $16,000 in taxes net of Canada Child Benefits on a $260,000 income, or a tax rate of 6%. This is a 10% less than what a single income family with 2 children would have to pay on a $50,000 wage.
- Prior to 2015- 90% of my income came from oilfield.
- I proudly can say I have never had to axe any employees in this recession and I have rejected all the requests to outsource bookkeeping to India. In my tradition of doing the opposite, I continue to give raises and bonuses.
- Most people have no political pull so speaking of politics this far from election does nothing.
- No government can save you. The only way to improve your life is the harder task of honing your skills.
- Understand that big government will always have inefficiencies, no big deal, business as usual. Smart ones are taking the money and laughing.
- Develop and exercise your rare and valuable skills.
- When you are ready “productify” your service. Don’t charge per hour, make clear-cut product offerings or sell something you know better than most.
- Sell either business to business or online or both. If you sell direct to consumers, remember who spends the money *hint: it’s not necessarily the people who earn it.
- Ritualize everything to focus on what’s important
- Prioritize efficiency = value created/time spent creating value
- Get the right people on board and the wrong ones out.
- Hire 2, work them like 4 and pay them like 3.
- Don’t try to please everyone. Most people are not worth it. I lose bad customers and obtain good ones. To be polarizing is a good problem to have.
- Buy fixer-uppers if you can realistically expect to double or triple your investment (do not count on capital appreciation if you are borrowing money!)
Control what you can control and ignore the rest. Manipulate the system to suit your needs. Our new government wants to spend billions on infrastructure, so get your self a piece of the pie, and employ our services so will let you hold on to as much of your hard-earned money as possible. The smaller percentage of taxes we pay is still our wonderful contribution to a great place I am proud to call home!
The triangle gets smaller on the way up so sooner or later we will meet!
As a result of improved efficiency – made possible by savings, innovation and investment – our prices are down and the benefits of THUT are available to a wider pool of entrepreneurs.
Why do I still do accounting?
I still do accounting because I want to master a scalable craft that no longer feels like work to me. The anticipation of improving a little each day keeps me at my desk. Working for stuff, is not the way to go through life- cars and tech get old and outdated. No one can take my skills from me. Money is only a byproduct of being skilled at a craft vs. competitors that are so focused on making money that their short-term actions are destroying their long-term goals.
North American style big goals of having a big house + big vehicle can put you in debt or at least limit your freedom. Once you have your essential costs covered for life (housing, food and clothing) then by all means splurge on whatever you choose. There is nothing wrong with nice things, but you will be a happier person being happy with what you already have and you won’t have to postpone or give up what you seek most for a momentary fix.
My Core System:
- Prioritize sleep.
- Improve my work each day. I keep a tally of my hours in focused work each week
- Improve my body each day. I keep a daily journal of the weight I lift, the number of reps and sets I do, also what I juiced/blended/ate that day
Environmental System to Facilitate my Core System
- I do not own a mobile phone or have wifi
- I only purchase healthy groceries
- I have never bought a TV, and there is only 1 projector in my theater which my kids use maximum once per month. TV & escapism = waste of life. Make your own life great instead
As you can see, my systems do not require any start-up cost. In fact, my system costs less than the typical persons life. I spend nothing on escapism, TV, entertainment, and unhealthy food.
Fact. The average person spends more than half their waking life on electronic devices. If your business (salon, restaurant, construction, ANY business) is not online, you are losing BIG MONEY to your competitors. *Tears* Search engine optimization (SEO) and technology is always changing and time consuming and therefore is costly in the wrong hands. *Tears* Not the way to go through life!
Fact. Practically all business owners seek to cut costs when there is a downturn in the economy. Knowing that everyone else does this… as usual, do the opposite.
Solution. Thut SwissBooks. Take advantage that we invested a fortune to let you outsource your online marketing at an affordable rate and watch the dollars come pouring in!
From: Christian Thut
To: Soon-to-be financially independent customers
In the last 10 years (I am 35) I have gone from being penniless to being able not to work another day in my life. But saving you money and making your journey easier is the reason I STILL LEAP out of bed every morning.
I’ve also read 500 books over this period, brought my bench press up to 300 lbs, and am teaching our 4 year old computer programming.
I’m not telling you these things to brag, but rather to show you what is possible when you leverage technology to scale your business.
If you could do these things too, how much would that be worth to you?
A lot, I’m guessing.
I watched highly skilled customers struggle through business and life because they just could not get people into their door. Unless you are maximizing your business’s online presence, you will never reach your potential.
IT HAS COST US A SMALL FORTUNE + 10 YEARS OF TRIAL AND ERROR TO PERFECT OUR TECHNOLOGY…
But you don’t need to spend 10 years and a small fortune to build your online marketing system.
You can do it in just one email.
Why so fast?
Because we have mastered the code and built the technology from scratch. We’ll secure you a domain, take care of hosting fees, build your mobile friendly website and keep it optimized for SEO. The content will leverage psychology to make you BIG MONEY selling anything to anyone. We’ll set up e-mail, social media pages and a blog that you can update with photos, and promos.
This package is valued at more than one thousand dollars per month.
But for now* we are pricing it at only $300/month exclusively for our customers.
Why so cheap only for our customers?
Because we benefit from higher accounting fees when we succeed in MAXIMIZING YOUR REVENUE and helping you grow your business over our pricing thresholds based on your revenue!
The SwissBooks Online Marketing Add-On is NOT:
- a highly customizable graphic design service
- an SEO service that requires you to maintain your own website and domain hosting
The SwissBooks Online Marketing Add-On IS:
- standardized and scalable online marketing service
- value for the money
I said the package is valued at over a thousand dollars per month- and it is.
This is the typical cost your competitors have been paying. And we have piloted our technology for e-commerce customers for $995 per month. Our new offering gives you everything we have been provided to the pilot program minus the online store. So for the current price* we are charging, you are getting a very good deal only for the fact we are so confident in our system that you will happily pay us higher accounting fees as you watch your revenue soar.
You will easily get 5x the value.
*We are approaching the stage of pulling an *event* and selling this platform (like how we sold our personal tax division). Once our technology is sold, only the customers that adopted the system directly through us will continue to avail of the low cost through us.
Có nhân viên kiểm tra thuế (auditor) làm ở cơ quan thuế Canada Revenue Agency (CRA) báo cho văn phòng mình biết là:
- CRA có nguyên một đội ngủ chuyên kiểm tra lại thuế tất cả các tiệm nail trong vòng 2 năm
- Trong đội ngủ này CRA có nhân viên biết tiếng Việt Nam sẻ giúp kiểm tra và thông dich lại những quảng cáo của những tiệm nails đăng trên Thời Báo (Trả bao nhiêu tiền một tháng và trả ăn chia v.v..). Auditor nói CRA sẽ dùng thông tin này để tìm lại số tiền mặt mà các tiệm Nail không khai báo là bao nhiêu.
- CRA đã và đang cho người giả xin việc gọi đến từng tiệm Nail và hỏi có trả tiền mặt hay không để báo lên CRA.
- CRA đang kiểm tra lại thuế tiệm Nail là vì có nhiều người trong ngành Nail phản ảnh với CRA vụ cách thức tiệm Nail Việt trả tiên cho nhân viên cho nên họ khong thế cạnh tranh được (ví dụ như tiệm Italian va Lebanese v.v.).
- Mua một chiếc xe với giá trị 75% hoặc nhiều hơn số tiền thu nhập hàng năm bạn báo sẽ gây ra một cuộc kiểm toán (audit).
- Trong một cuộc audit CRA cũng kiểm tra xem làm thế nào bạn có thể trả tiền mortgage của bạn.
CRA có quyền:
- Tìm hiểu thông tin từ nơi đăng ký xe (Registry Office )mình có bao nhiêu xe và xe gì
- Lấy thông tin từ ngân hàng (cá nhân lẩn doanh ngiệp) và thông tin mortgage của chủ tiệm nail
- Và họ lên City of Edmonton website để coi giá trị của căn nhà của bạn
Chúng tôi đề nghị tiệm Nail phải có hệ thống quản lý bán hàng (Point of Sale system) hoặc ghi lại thu nhập , xem Example – Sales Journal – Month of July hoặc liên hệ với văn phòng THUT cho một mẫu để sử dụng. Tiệm Nail cũng cần ghi lại tiền TIP trả cho nhân viên hàng ngày bởi vì chủ tiệm nail không cần phải trả thuế và GST trên tiền TIP này. Để biết thêm về hồ sơ thu nhập : English / Vietnamese.
Trong trường hợp nếu bạn bị kiểm tra thuế thì bạn cung cấp cho Auditor bằng báo cáo thu nhập thì bạn không có vấn đề.