Inst. of Chartered Accountants

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The[url=http://www.icao.on.ca/] Institute of Chartered Accountants of Ontario[/url] is the qualifying and regulatory body of Ontario’s 33,000 Chartered Accountants and 5,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession’s high standards of qualification and the enforcement of its rules of professional conduct. The Institute works in partnership with the other provincial Institutes of Chartered Accountants and the Canadian Institute of Chartered Accountants to provide national standards and programs that are used as examples around the world. We can be reached at [[email protected][email protected]][email protected][/email]

Most Recent Articles by Inst. of Chartered Accountants:

Investing business profits

Feb 16, 2011 — Inst. of Chartered Accountants

Your business has moved out of the startup phase, it’s no longer as highly leveraged, and the challenges of tight cash flows and limited working capital are behind you. Now that you’re generating profits, you need to decide how to use them.

“Even if you’re young and just starting your career, you should be actively planning for and investing in your retirement,” advises Chartered Accountant Stephen Shaw, Senior Vice-President and Director of MNP Corporate Finance Inc. in Toronto. “Many business owners assume that the proceeds from the eventual sale of their businesses will be sufficient to meet their retirement needs. Often, however, it isn’t enough.”

Introduction to investing

Feb 16, 2011 — Inst. of Chartered Accountants

You’ve got some additional cash on hand and want to put it to work. The problem is, you’re not sure where to start.

“Begin by deciding how much you want to invest and how much risk you’re willing to take on,” says Anish Chopra, a Chartered Accountant and Managing Director of TD Asset Management. Some investments promise to pay a guaranteed amount. Other types of investments may offer to pay higher amounts, but they usually involve greater risk, including the chance that you may lose some or all of what you’ve invested.

Manage your business debt

Feb 15, 2011 — Inst. of Chartered Accountants

Running your own business is challenging at the best of times – in a slower economy it’s even tougher.

“Economic downturns and debt management challenges go hand in hand,” agrees Chartered Accountant Bruce Bailey of BAB Consultants of Sharon, Ontario. “But a tougher economy can be a benefit if it forces a business to analyze the core competencies that drive its success and the business owners are willing to make choices that are often difficult, but will improve the business over the long run.”

2010 Tax Tips, Part 3

Feb 14, 2011 — Inst. of Chartered Accountants

Tax Tip 1 of 11

Special tax treatment for bankrupt business
Are you part of a small business that is facing insolvency or bankruptcy? Tax breaks may offer some welcome relief at a very difficult time.

2010 Tax Tips, Part 2

Feb 10, 2011 — Inst. of Chartered Accountants

Tax Tip 1 of 10

Medical-dental – what’s deductible?

The Canada Revenue Agency offers some tax relief for many health-related expenses that OHIP doesn’t cover. There are rules and limitations, but also ways to maximize the benefit.

Tax Tips Part One

Feb 8, 2011 — Inst. of Chartered Accountants

Tax Tip 1 of 10

Online access to your tax information
Stop waiting for the mail! You can now review your tax accounts online.

Disaster recovery plan will save your small business

Jan 28, 2011 — Inst. of Chartered Accountants

If you own a small business, you probably have a business plan, a financial plan and a tax plan. But do you have a disaster recovery plan? If you don’t, a disaster might put you out of business permanently. Here are some tips on how to develop a disaster recovery plan for your small business.

Execute a successful disaster recovery plan – salvage your small business

Jan 28, 2011 — Inst. of Chartered Accountants

Fire, flood, power failure, computer crash, theft, pandemic, terrorism — the list of disasters that could befall your small business is long and frightening. While having a disaster recovery plan is a must, how you implement it can mean the difference between a minor hiccup in your business operations and a major, perhaps even permanent, failure. Here are some tips on implementing your disaster recovery plan from Chartered Accountant Marc Belaiche, President of TorontoJobs.ca in Mississauga.

RRSP Checklist

Jan 15, 2011 — Inst. of Chartered Accountants

  • The RRSP deadline is March 1, 2011.
  • To qualify as a 2010 deduction, contributions to your personal or spousal RRSP must be made on or before March 1, 2011.
  • Determine your RRSP contribution limit for 2010 by referring to your previous year’s Notice of Assessment from the Canada Revenue Agency (CRA), or visit the CRA website at (link).
  • Determine how much, if any, you have already contributed to your RRSP for 2010.
  • You can take advantage of any unused 2010 RRSP room up to your contribution limit. You will receive a 2010 tax deduction for this amount as long as the contribution is made by the March 1, 2011 deadline.

Get your RRSP working for you

Jan 13, 2011 — Inst. of Chartered Accountants

A recent survey found that 52 per cent of working Canadians under age 65 are scared they haven’t saved enough for a comfortable retirement. With government debt and health care costs both rising, it’s very possible that many of us will need our Registered Retirement Savings Plans (RRSPs) to provide a regular part of our income as we get older.

The ABCs of RRSPs

Jan 13, 2011 — Inst. of Chartered Accountants

The Government of Canada was surely smiling on taxpayers the day it created Registered Retirement Savings Plans (RRSPs). These tax deferral programs not only help us save for retirement, they also let us postpone paying the taxes that go with that money until later.

RRSP Checklist

Jan 12, 2011 — Inst. of Chartered Accountants

  • The RRSP deadline is March 1, 2011.
  • To qualify as a 2010 deduction, contributions to your personal or spousal RRSP must be made on or before March 1, 2011.
  • Determine your RRSP contribution limit for 2010 by referring to your previous year’s Notice of Assessment from the Canada Revenue Agency (CRA), or visit the CRA website at (link).
  • Determine how much, if any, you have already contributed to your RRSP for 2010.
  • You can take advantage of any unused 2010 RRSP room up to your contribution limit. You will receive a 2010 tax deduction for this amount as long as the contribution is made by the March 1, 2011 deadline.

Technology can boost your business

Jan 5, 2011 — Inst. of Chartered Accountants

If there’s some part of your small business that needs managing, chances are there’s an electronic solution. 

If you’re like most business owners, your hands are full just keeping your operation going. Who has the time to find out about new technology and tools, set up the systems and then learn how to use them?

Cautiously connected: protect yourself online

Jan 5, 2011 — Inst. of Chartered Accountants

There’s a lot to know about social media and how to make the most of sites like Facebook and Twitter. One thing many of us don’t know is how to protect ourselves and our identities when we use them.

2011 resolutions for a more successful business

Dec 30, 2010 — Inst. of Chartered Accountants

This time of year seems to be “resolution-making time”, so take a few minutes for yourself to think about how you can make your business better in the new year.

Chartered Accountant and Chartered Insolvency and Restructuring Professional André Bolduc is Senior Vice-President at BDO Canada Limited in Ottawa. He has worked with businesses of all types and sizes, seeing them through the challenging times as well as the good ones. Here, he shares 10 resolutions that you can make to help accelerate your business’s success, and maybe even relieve a little of the stress that comes with being an owner.