Tax & Financial Resource Centre

Our resource centre is designed to give you ready access to the tips and tools you need to take control of your financial future. With clear, simple advice that you can implement today, we’ll help you be more comfortable tomorrow. Each month, our featured “tip of the month” will provide practical pointers about taxes, accounting and other relevant financial matters.

Tax Planning for Tax Season 2017

By |January 18th, 2017|

For most Canadians, January marks that time of year when we start the process of preparing for income tax filing with Revenue Canada. Whether it is for Personal Income Tax, Business tax filing, Estate Taxes or you’re a Non-Resident, at some point, you are required to file your tax return. With some smart tax planning and organization, filing your taxes and the stress associated with it, can be a thing of the past. Keep Your Receipts Organized With today’s technology, it is easy to keep track of your expenses and receipts. Several accounting programs now offer the option of taking [...]

Choosing the Right Accountant for Your Not for Profit

By |December 3rd, 2016|

Accounting is a complex field requiring specialized training and certification. Finding the right accountant for your business can be challenging, and if you are not an accountant yourself, you might wonder how to determine if you have chosen a good one. Here are some tips to take the frustration and doubt out of finding the accountant that is right for your non-profit organization, charity or society. Look for the right kind of accountant It is important to note that non-profit accounting is different from for-profit accounting. The handling of restricted funds is one example where their knowledge and practices will [...]

Preparing For Tax Season Early

By |December 3rd, 2016|

What You Can Do If your looking to do your tax planning in Burnaby early this year, there are some simple things you can do to position yourself well for a stress-free tax season. At Naicker & Associates in Burnaby, as Chartered Professional Accountants (CPA) we recommend you consider these steps to save valuable time and money at the end of the year. Gather Your Receipts Go through all the places you normally keep paper receipts. Search your email inbox for electronic records of spending and print them out. Put them all in a file so you don’t lose them. [...]

Plan for the Unplanned

By |September 5th, 2013|

Plan for Unplanned Expenses According to a recent poll by BMO, "Sixty-eight per cent of Canadians surveyed have had to dip into their rainy day fund in emergency situations but the majority of them - 58 per cent - didn't have sufficient cash to cover the full cost of the expenses, according to the BMO Rainy Day survey, released Wednesday." (source: Globe and Mail) Your financial plan should not only account for expenses you are aware of, but should additionally include reserves to cover those unexpected expenses. How much should that excess pool be? How are these excess finances best [...]

Five Basic Steps to Financial Success

By |November 4th, 2012|

We all dream of riches - or at least of financial security. Yet what most of us do not realize is that our goals are well within our reach - if we are willing to follow the basic tenets of financial responsibility to get there. The following five steps are basic, easy rules by which every person should run his or her financial life. Step #1: Spend Less Than You Earn Whether you are a billionaire or below the poverty line, this rule applies. There are plenty of wealthy people out there with debts far greater than their earnings. You [...]