Spring cleaning your debt could save you thousands!

Like most homeowners in today’s changing economy, becoming debt free is a top priority.  At The Small Business Group of Companies, we have recently launched a focus towards providing key advice on strategies that our clients can implement today to literally save tens of thousands of dollars in interest costs on your mortgage and other debts and be debt free years sooner. 

Click here for more information: Spring cleaning could save you thousands

Private Health Services Plan: If you could save at least 15% in taxes on every dollar that you pay for health and dental costs, would you?  

Private Health Services Plan (PHSP) or commonly referred to as a Health Spending Account or Cost Plus plan, can save you taxes by structuring your health and dental expenses through a PHSP.

How does it work?

In order for you to pay for your health and dental costs, you need to pay tax personally on that money.  For example, if you make $50,000/annum and you have $1,000 in health and dental costs that you pay for our of your pocket (after tax), $1,470.59 of your gross salary was used up for medical expenses.

With a PHSP in place for your business, you could process the health and dental expenses through your businesses PHSP, saving you the $470.59 that you would have had to pay in taxes to earn the $1,000 to pay for the expenses.  There is a cost however, as CRA requires that all health plans are administered by a third party, so that it can be adjudicated.  The cost for this is 10%.  Instead of your company paying $1,470.59, it will pay $1,100, saving you, as the business owner, the $370.59.  As the expenses and or income gets higher the savings become greater.

To find out more, please contact us for this and other tax savings tips.

For those of you that are sole proprietors, your annual GST payment is due APRIL 30! and not June 15.  The June 15 due date on your GST form is for filing your GST, NOT for paying it!

Please visit CRA’s website for more information:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/bspsbch/pymnts/whntpy-eng.html

Did you know…you have until Friday to have RSP deposits that can be used for your 2012 taxes?  Book an appointment today.

Did you know…there is a possibility of putting too much money into your RRSP so that you DON’T enjoy the maximum tax benefits?  We can assist you to optimize, not necessarily maximize your RRSP contribution.  Call to book an appointment.

CRA has announced that the contribution limit for 2013 goes from $5,000 to $5,500.  That means that in 2013, you could have up to $25,500 of contribution room.

Denise has always worked to ensure that she meets the needs of her clients, and then some. After 9 years of working as the CEO of The Small Business Accountants Denise recognized a need within her client base for strong financial guidance and risk management analysis.

With over 20 years experience in financial services, bookkeeping and accounting, Denise launched The Small Business Financial Advisors division of The Small Business Group of Companies. Focusing within her niche of working with entrepreneurs and their families, Denise feels honoured and privileged for The Small Business Financial Advisors to be part of her clients business support centre of choice on their path to growing success.

Denise acquired a Business Administration diploma and completed accountancy courses while working in various accounting positions, including Controller for a family owned Oil and Gas Service Company, before going solo in 2001. The numbers bug had taken hold of Denise early in her life. As a young girl, and a third generation member of the 4H service club (Heart, Health, Hand, Head), Denise was awarded the most organized and accurate bookkeeper in her club.

Married, with a blended family that includes six children, Denise proudly displays an entrepreneurial attitude evident in many Alberta business owners. True to her community roots, Denise volunteered for over 2 years with the Calgary Community Support for Young Parents. Denise and her husband are also dedicated Plasma Donors for Canadian Blood Services.

Looking to a bright future, Denise wants to share her hard earned business knowledge. Working with her clients and their families to organize their financials restores her client’s sense of control and peace of mind. Teaching someone how to crawl, walk and then run with their business gives her a personal satisfaction like no other.

Accounting Technician/Bookkeeper

The Small Business Accountants recognize that our employees are our advantage and as such we seek to attract and retain highly qualified individuals with strong academic backgrounds, a genuine interest in the clients financial well being and a desire to be challenged.

Responsibilities:

Must be able to perform data entry for accounts payable, accounts receivable, payroll, financial reviews and government reporting.

Proficient knowledge in quickbooks is essential. Experience in full cycle bookkeeping is a must.

If you feel that this is the right position for you please respond by sending your resume to reception@smallbusinesscompanies.ca

The Small Business Accountants are located in Mckenzie Towne, SE, Calgary.

Did You Know…….you still have 4 days to get your RRSP in for your 2011 tax year.  Call us if you want to know how much you need for RRSP’s to keep your tax down 403-257-6235.

Did You Know…..having a tax expert in your corner can save you money.  Here are a few Tax Tips that can help you.  And….if you are in need of a tax expert, call us at 403-257-6235, we are here to help.