Above-Board Accounting

Hello my Lytton tax clients and friends, It is terrible to read about how many of you have lost your homes and all your belongings. My heart aches for you all. One thing I can do to help:. If I prepared your tax return for 2020 and you have lost your tax papers due to the Lytton Fire and need to provide proof of income for any reason, please let me know. I will replace your 2020 tax summary by email (no charge). Please pass this information along to those for whom I don't have an email address. Jo Johnson

Some information to review re turning 65 in Canada.

Good morning everybody, Please take note that effective today, April 29th, I will no longer be doing income tax returns from my Loring Way address. My property has sold and there will be new owners as of tomorrow. If you require my services, please contact me directly at 778-538-2469 and we can arrange a time and place to meet. Thank you.

PLEASE NOTE: New tax filing and payment deadlines The due date for filing individual tax returns has been extended to June 1, 2020. Taxpayers will have until S...eptember 1, 2020 to pay any 2019 income tax amounts owed. Originally posted on Canada Revenue Agency site.

Please note: In view of the Coronavirus pandemic, Above-Board Accounting will no longer be meeting at the Lyl' Towne Deli. Instead, clients are asked to contact me directly at 778-538-2469 to arrange to schedule a time and place to meet. We want to keep our community safe.

GOOD MORNING! This post is to confirm that ABOVE-BOARD ACCOUNTING will be happy to prepare your tax returns again this year for 2019 and earlier. Please contact me at 1-778-538-2469 to make an appointment OR Drop in to the Lyl' Towne Deli & Sandwich Shop at 437 Main Street, Thursdays and Fridays MORNINGS starting March 5th with your T-slips . ... I look forward to seeing you again this year. Jo Johnson See more

Thank you to all my loyal tax clients for a good year. Tax returns will be prepared only up until the end of May, so there are THREE DAYS LEFT! Until next year!

COUNTDOWN ... 3 WEEKS AND 2 DAYS TO GO! Tax deadline: April 30th.COUNTDOWN ... 3 WEEKS AND 2 DAYS TO GO! Tax deadline: April 30th.

So, you are starting your own business? Good for you! There are many benefits to be obtained from doing this, and a few pitfalls if you aren’t careful. You have likely checked out the market and the competition to determine if there is a place for you and your business to thrive. Knowing that there is a place for you and your business, as part of your planning strategy, you will want to decide on a business structure. There are three legal business structures in Canada...: sole proprietorship, partnership and incorporation. They each have their own advantages which you need to consider before making a choice. Will you be working alone? Will you have a partner with whom you will be sharing the work, the income and the expenses? Do you wish to keep your business as an entirely separate entity? The choice usually revolves around the tax structure related to the business type. In this article, we will discuss the ‘sole proprietorship’ concept where you and the business are legally considered as one entity. As a sole proprietor, if you work out of your own home, you can choose to set aside a portion of your home as a ‘business area’ a place where you exclusively conduct your business a workshop, an office where you develop your product, interview clients, work on your novel, create a work of art, etc. You can easily apportion your household expenses between personal and business, and, on a pro rata basis, deduct the business-use-of-home expenses from your business income. This is one neat feature of the sole proprietorship concept that we will discuss in a later article. There are tax advantages and disadvantages to this choice. You, as sole proprietor, are personally liable for all the debts of the business there is no legal separation between the individual and the business. On the other hand, if the business generates a loss, this loss can be used to reduce income from other sources, thus decreasing tax liability. This is a definite benefit in the first few years of your business. Next: Partnerships Helpful websites to look at include: www.SmallBusinessBC.ca and www.bdc.ca.

It occurred to us that some of you may be interested in starting up your own business. We will be doing a series of articles on this page with some suggestions on how to do this. One of the first things you want to do is select a business structure, and we will discuss the various possibilities and their implications. We will be happy to answer any questions you may have. Look for our first posting on Saturday, October 14th.

We are so excited to be launching our new business, ABOVE-BOARD ACCOUNTING, as partners. All the accounting responsibilities - setting up businesses, accounts payable and receivable, financial statements, budgeting, you name it -- we were doing as individuals, we will now be doing as a team! With offices in both the Fraser Canyon and the Kelowna areas, we will be able to provide our services on a much larger scale. NO WONDER we are excited!

One of our areas of expertise is cleaning up your books! Countless times over the years, we have come across what we affectionately call a "dog's breakfast". Depending on the size of the business, the nature of the errors and time that it took for the books to get into this mess, it can take hours, days, weeks or even months to correct, but is well worth that investment in time! When your numbers are clean, clear, concise and orderly, you will enjoy the ease in reading and understanding what they tell you. If you can't make sense of your financials, or in some cases, simply don't like this "super duper fun" part of your business and wish you could be doing anything else - please contact us. We thoroughly enjoy what we do and are happy to help! http://www.above-boardaccounting.com.