Accotec Accounting Solution

Running a business can be incredibly challenging, so much so that the person in charge can feel entirely overwhelmed in terms of determining the next major steps for growth. ACCOTEC Accounting Solution helps our clients make their most important strategic decisions and then turn those decisions into actions. The purpose of a management consulting firm is to help an organization improve performance and grow by finding new solutions to solve problems to reach their goals. ACCO...TEC specializes in providing practical advice and professional services for businesses in need of a little help getting back on the right track. Our professionals are trained to solve tough business problems by developing strategies that will improve the financial and operational health of any business. We treat all organizations as unique entities and put together plans that works to solve specific issues the business may be experiencing.Our professionals offer expert advice in many different fields and are developed by people who know what they are doing. Our consultants work by first gathering data about your business. We look at financial reports, gather databases, and conduct interviews, all to get a sense of the status quo. Then we process that data and help the business determine which employees should be handling which responsibilities, ensuring the most productivity from everyone on the team. Roles change as businesses grow, and consulting firms can help you determine how those changes manifest themselves within your team members’ roles. Most importantly, we look to the future. How can we help your business grow in a way that is manageable and sustainable, all in a way that ensures you can handle what’s up ahead? We want good things for your business, which is why we put together plans that make sure those good things happen. Get Started Today!! -------------------- If you think you may require the services of the professionals at the ACCOTEC Accounting Solution, do not hesitate to contact us to set up an initial consultation. We think you’ll like what you hear, and it will become clear very quickly why hiring us is in the best interest of any business

Income tax filing and payment deadlines: CRA and COVID-19 CRA is experiencing significant delays in processing paper income tax and benefit returns. File your 2019 taxes online by June 1, 2020 and register for direct deposit to get refunds faster and avoid interruptions to benefit and credit payments.

Question: I have sold my house in 2019 where I lived for past 6 years and bought a new house in 2019? Do I have to pay capital gain tax on the disposition of the house? Disposing of your principal residence:... When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because of the principal residence exemption. This is the case if the property was solely your principal residence for every year you owned it. However, you will have some filing requirement for the disposition of your principle resident. First let us look at what type of houses qualify for principle resident exemption: According to Income Tax Act of Canada Section 54, the following types of property can qualify as a principal residence: a housing unit, which the CRA has accepted could include - a house; - an apartment or unit in a duplex, apartment building or condominium; - a cottage; - a mobile home; - a trailer; or - a houseboat. Designation of a property as a principal residence: As a taxpayer, you have the right to designate your principle resident. For a person, who own only one house, it may not be hard since he will have no option but choosing his house as principle resident. For a person, who own multiple houses, for example, someone who has a house and a cottage and none of them are rented can choice his designated house as principle resident as year by year basis. Usually CPA can help you choose to get you the best tax benefit. What is the filing requirement for disposing your principle resident: Taxpayer must file FORM T2091(IND) where taxpayer will need to provide address of the property, when it was acquired, total capital gain received from the building and sign at the bottom of the page confirming all the information is correct. PLEASE NOTE, THE CAPITAL GAIN FROM DISPOSITION OF PRINCIPAL RESIDENT WILL NOT BE TAXED. THIS IS JUST AN INFORMATIONAL FORM TO LET CRA KNOW ABOUT THE DISPOSITION. If you need help or consulting related to disposition of your principal resident, we can help. Call us at 514-715-7274

This economic situation is forcing business owners to take drastic measure to cut down on expenses to improve the bottom number on their financial statment. We provide advise on automation your business and improve on your CRM system to be able to handle more work with less resources. It helped our existing clients to improve their net income.

Running a business can be incredibly challenging, so much so that the person in charge can feel entirely overwhelmed in terms of determining the next major steps for growth. ACCOTEC Accounting Solution helps our clients make their most important strategic decisions and then turn those decisions into actions. The purpose of a management consulting firm is to help an organization improve performance and grow by finding new solutions to solve problems to reach their goals. ACCO...TEC specializes in providing practical advice and professional services for businesses in need of a little help getting back on the right track. Our professionals are trained to solve tough business problems by developing strategies that will improve the financial and operational health of any business. We treat all organizations as unique entities and put together plans that works to solve specific issues the business may be experiencing.Our professionals offer expert advice in many different fields and are developed by people who know what they are doing. Our consultants work by first gathering data about your business. We look at financial reports, gather databases, and conduct interviews, all to get a sense of the status quo. Then we process that data and help the business determine which employees should be handling which responsibilities, ensuring the most productivity from everyone on the team. Roles change as businesses grow, and consulting firms can help you determine how those changes manifest themselves within your team members’ roles. Most importantly, we look to the future. How can we help your business grow in a way that is manageable and sustainable, all in a way that ensures you can handle what’s up ahead? We want good things for your business, which is why we put together plans that make sure those good things happen. Get Started Today!! -------------------- If you think you may require the services of the professionals at the ACCOTEC Accounting Solution, do not hesitate to contact us to set up an initial consultation. We think you’ll like what you hear, and it will become clear very quickly why hiring us is in the best interest of any business

Income tax filing and payment deadlines: CRA and COVID-19 CRA is experiencing significant delays in processing paper income tax and benefit returns. File your 2019 taxes online by June 1, 2020 and register for direct deposit to get refunds faster and avoid interruptions to benefit and credit payments.

Question: I have sold my house in 2019 where I lived for past 6 years and bought a new house in 2019? Do I have to pay capital gain tax on the disposition of the house? Disposing of your principal residence:... When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because of the principal residence exemption. This is the case if the property was solely your principal residence for every year you owned it. However, you will have some filing requirement for the disposition of your principle resident. First let us look at what type of houses qualify for principle resident exemption: According to Income Tax Act of Canada Section 54, the following types of property can qualify as a principal residence: a housing unit, which the CRA has accepted could include - a house; - an apartment or unit in a duplex, apartment building or condominium; - a cottage; - a mobile home; - a trailer; or - a houseboat. Designation of a property as a principal residence: As a taxpayer, you have the right to designate your principle resident. For a person, who own only one house, it may not be hard since he will have no option but choosing his house as principle resident. For a person, who own multiple houses, for example, someone who has a house and a cottage and none of them are rented can choice his designated house as principle resident as year by year basis. Usually CPA can help you choose to get you the best tax benefit. What is the filing requirement for disposing your principle resident: Taxpayer must file FORM T2091(IND) where taxpayer will need to provide address of the property, when it was acquired, total capital gain received from the building and sign at the bottom of the page confirming all the information is correct. PLEASE NOTE, THE CAPITAL GAIN FROM DISPOSITION OF PRINCIPAL RESIDENT WILL NOT BE TAXED. THIS IS JUST AN INFORMATIONAL FORM TO LET CRA KNOW ABOUT THE DISPOSITION. If you need help or consulting related to disposition of your principal resident, we can help. Call us at 514-715-7274