• If you’re the owner of a small business, to say you multi-task is an understatement! The various “hats” you wear can include accounting, marketing, information technology and human resources – which aren’t exactly small tasks in themselves. If you’re feeling overwhelmed by the constant juggling act, out-sourcing your accounting functions
  • It’s hard to believe that we’ve entered another personal tax season. In fact, April 30th is just 42 days away! To make tax season as stress free as possible, here are four steps to help you get organized. STEP #1 – READ YOUR PERSONAL TAX LETTER A few weeks ago,
  • So, you’ve finally entered your “golden years”. It’s a time to enjoy the perks of turning 65 – senior’s days, passes and discounts. You now have more time to spend either with your family, in your garden, or mastering what was once only a hobby. To be realistic though, it’s
  • If your business is considering purchasing office equipment, vehicles, computers, practically any capital asset – we have fantastic news! The Department of Finance announced that as of November 20, 2018 tax depreciation rates have TRIPLED from the previous rates. If you think that’s a nice perk, check this out! As
  • Is it really surprising that many fall victim to fake CRA collection calls? You know,the ones demanding payment or the CRA will either arrest you or launch a lawsuit against you – even repossess your home. With over 30 years of dealing with the CRA, their “Dark Side” has become
  • Bookkeeping is not just entering transactions, reconciling your bank statement and saying, “I’m done!” Bookkeeping lays the foundation for everything that is extracted from your financial data, and business owners deserve data they can trust. Good bookkeeping does require work, but working smart now saves time, money and headaches later.
  • In November 2016, we blogged about Tax Free Savings Accounts. Since inception, CRA has been auditing TFSA accounts and this has resulted in penalties to taxpayers who have unknowingly over-contributed. How can you be sure you have room for your TFSA contributions? Here are some tips. Understand TFSA Withdrawals Let’s
  • Let’s face it, your annual physical may not be your idea of a good time. However, regular visits to a GP can help you assess your health, review what’s happening in your life, and guide you in making healthy choices and lifestyle changes with the goal of being as healthy
  • Costco, Superstore and Wal-Mart have got us used to the efficiency and convenience of one stop shopping. However, should this same concept be applied to your financial needs? Not necessarily. At Scarrow Yurman & Co. we do our best to attend to the tax needs of our clients. We go
  • Are you up to your eyeballs in passwords that you can’t keep straight? Do you reset your passwords more often than your alarm clock? Then this blog is for you! We recently heard of a password solution that impressed us so much – we just had to share. The key
  • Although these two terms are used interchangeably, when you’re discussing tax credits and tax deductions you’re not comparing apples to apples. They are very different and knowing the differences is helpful. Tax we owe in any given year is not based solely on our income but is also affected by
  • “By failing to prepare, you are preparing to fail.” With this sobering advice in mind, we have prepared some tips to help you get organized and avoid unnecessary stress this personal tax season. TIP #1 – Mark your calendar. Know your deadline. For individuals, the deadline is April 30, 2018.
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