Landlords, need a breakdown what to do come tax season? Find out exactly what you can write off and why you should expect to owe taxes. What happens when you sell a rental property or do major...

Accountants, lawyers, financial planners and insurance advisors all throw this term around: tax planning. But what exactly is Tax Planning? And how is it done?

With the RRSP deadline coming up this Friday, March 1, we wanted to bring in the perspective of an investment advisor to shed some light on the topic of investing and taxes. Megan Sutherland is an...

 As you get ready to prepare your 2018 taxes and think about the tax year ahead, here are the big changes to personal taxes. Many of them will keep more money in your pocket, so make sure you’re...

What does a financially fit business owner look like? They confidently take advantage of every write-off and have a tight paper trail. They've automated their instalment payments and save enough from...

At True North Accounting, we’re proud to provide accounting, bookkeeping and small business advisory services for small businesses in Calgary and Okotoks, Alberta. 

Last week I sent an email out to all our clients telling them January 15 is their last chance to make their 2018 CPP remittance. The maximum amount for 2018 is $5,187.60. I hope you got in while it...

The year is winding down. Although it’s a good time to look ahead, make resolutions and plot goals for the new year, we encourage you to take a moment to reflect on and celebrate the year you’re...

Did you know that beer is becoming one of the most appreciated holiday gifts? Beer is really an all-season beverage, but in my house it’s become one of my favourite Christmas traditions; this...

Lots of people have a side hustle these days (check out Avenue’s recent article The Art of the Side Hustle). When your heart’s in the game and you start to make a few bucks, you may start to wonder:...

We’re hosting Tears, Fears & Beers* at Ol’Beautiful brewery next Thursday, November 15, an event about how start and survive small business ownership (because we’re all about small businesses )....

You started a business because you have a talent, product, service or some other passion to share. But building a successful small business is going to require knowledge beyond your expertise (It’s...

If you’ve ever asked your accountants whether you should own your vehicle in your corporation, or personally, I’m betting they didn’t tell you much. They probably said, “well it depends”. If you are...

We all get bombarded with so much mail and email that it can be difficult to sort the important from the unimportant. Documents that are important for tax purposes arrive throughout the year, or...

It’s an awful, crippling feeling to be facing an insurmountable mountain of debt. As tax rates increase and our economy continues to struggle, many Albertans are helplessly watching their debt levels...

We’re excited to introduce Curtis Gabinet as a new Partner at True North Accounting. Curtis has been with us for a couple years, so our clients know him well. But to everyone that hasn’t met him yet,...

My name is Madeline and I am a co-owner of True North Accounting. I am responsible for the day-to-day administrative duties and wanted to write a blog about how True North Accounting handles its own...

"Running my own business is hard. While the rewards and freedom are great, I get really stressed out at tax time and am always worrying about paying enough tax, and not getting in trouble with the...

Those brown envelopes with the little black Canada flag in the top left corner can raise the heart beat a little. Sometimes they contain a cheque! Other times you rip it open and it's a letter with a...

Ever wondered if there was a science to valuing a business? There is. Well, part art - part science. Small Business owners need to know the value of their businesses for a variety of reasons. When it...

If you own a business, chances are you get requests to sponsor events and teams. We want to give you our thoughts on what to sponsor, and when to say ‘no.’

The most important thing a small business owner can do is maintain a good personal credit score. But it's still very important to build good business credit. We’ll explain some of the benefits and...

Money isn’t something a lot of families like talking about at the dinner table, but my family did. Growing up, my dad was (and still is) always on the lookout for a good deal and he drilled the value...

Still wondering why you owed so much tax this year? You’re not alone. In fact, many people found themselves owing taxes when they were expecting a refund.

It’s tax season again. and just like every other year, there are changes that we want to share with you so that you’re up to speed on your personal taxes.

Good and Services Tax: consumers know they pay it, and business owners know they charge it, but do you know why? As the GST deadline approaches for many businesses, we wanted to share some GST 101:...

Deadlines. Deadlines. Deadlines. They are approaching and while we often get anxious about meeting them, the more we know about deadlines, the less chance we’ll miss them. Here are some of the CRA...

Choosing between Dividends vs Salary can be a difficult decision, that really depends on your situation. To help shed light on this topic, we’re sharing a scenario about one particular business and...

If you’re like most people, you probably go through the same song and dance every January. Set goals. Fail to make plan. Then feel bad about the whole thing. Well, January is here and we have some...

December is busy. We know, but if you can spare the time, it's also your last chance to take advantage of a few tax planning opportunities that could save you money this tax season.

The information released by the minister of Finance on July 18, 2017 scared many small business owners. Right now, investment income earned in a corporation is currently taxed at about 50% - and the...

We look at our clients' bank statements all the time and I see so many people not taking advantage of low-hanging fruit from the banks. Here are five easy ways to save time and money!

This is our first blog post. We didn't intend to write highly technical blogs, but with a lot of new tax information (and misinformation), there's a lot of demand for our opinion and interpretation...