If you are thinking about incorporating your business that you currently operate as a sole proprietor, keep in mind that the Income Tax Act allows for a tax-free rollover of assets into your new corporation. This rollover is available under Section 85(1) of the Income Tax Act and is accomplished by completing and submitting the CRA Form T2057 entitled “Election on Disposition of Property by a Taxpayer to a Taxable Canadian Corporation”. You should consider the existing asset

We have an opportunity for a talented, motivated accountant to join our team. This is an excellent position for individuals who are interested in building a well-rounded skill set while working with an exciting diverse clientele. Your primary responsibilities will include: -File preparation including financial statements for compilation, review and audit engagements. -Preparation of tax filings for individuals, corporations, trusts, and not-for profit organizations. -Working

Have you travelled more than 40km to get medical treatment that is not otherwise available in your area? If you answered “yes”, CRA will allow you to claim transportation costs as part of the medical expenses. If you travelled more than 80km, CRA will allow you to claim overnight accommodation costs and reasonable meals in addition to the transportation costs as part of the medical expense. Wm J Trotter & Associates #medical

Today is a day that we all reflect and give thanks to the men and women who risked and gave their lives for our freedom. Thank a solider.

The new Small Business Job Credit will effectively reduce the employer’s portion of EI from 1.88% to 1.6% for 2015 and 2016. Employers whose total employer EI premiums is less than $15,000 will be eligible for this credit. Wm J Trotter & Associates #smallbusiness #ei