Reorganize Your Financial Life Today!
Spend less time on your business and more time doing business!
Spend less time on your business and more time doing business!
Richard Thomas earned a Bachelor of Commerce from the University of Alberta, majoring in accounting, and acquired his Certified General Accountant designation in 2002. He has spent 18 years in public practice accounting, working way up from junior accounting technician to accounting manager.
Richard started RBT Accounting Services to help those who are just starting their own businesses with their bookkeeping and tax needs. Working with many small and medium business owners over the years, Richard found that the biggest obstacle in starting a business is the planning for GST/PST, payroll deductions, business taxes, and dealing with all of the paperwork involved. He has helped many owners dig themselves out of a hole with the Canada Revenue Agency and is ready to help new owners avoid that issue by being the knowledgeable expert who helps them on their way.
Keeping track of the money flowing into and out of your business is important and time consuming, especially if there are a lot of small transactions. RBT Accounting Services will help you to keep things organized so that receivables are being collected and bills are being paid in a timely manner.
Sales taxes are confusing. Do you have to charge GST? Are you required to collect PST? What are your filing deadlines? RBT Accounting Services will help figure all this for you and ensure returns are filed properly and on time, and that you have the knowledge you need to keep your clients informed and your accounts up to date.
Your employees are the heart of your business. RBT Accounting Services will help ensure that they are paid accurately and that the source deductions are remitted on time. RBT Accounting Services will also prepare and file the T4 Return.
Whether you are a sole proprietor or a small owner managed corporation, keeping your taxes up to date is important. RBT Accounting Services will prepare your required tax returns and ensure they are filed on time.
Tax Tip Tuesday - know your rates. The Government of Canada sets the federal income tax rates for individuals each year. Each province and territory determines their own additional income tax rates. For example, if I make $54,000, then this year I pay 15% federal income tax. Last year I would have paid 20.5% tax as the rates are different each year. Federal income tax rates for 2024: 15% on the portion of taxable income that is $55,867 or less, plus 20.5% on the portion of taxable income over $55,867 up to $111,733 Federal income tax rates for 2023: 15%...
An immigration conundrum: CBC reports that 2023 would have ended in a recession if it weren’t for the increase in population because more people spent money even if the amount per person declined. The population of Canada grew by about 1.3 million in 2023, with over 97% attributed to immigration. In October, the government announced a cut to future immigration designed to lessen the pressure on the housing market. We need more people to fill jobs but we have nowhere for them to live.
Tax Tip Tuesday! Did you know that your spouse should be named as your TFSA successor holder, not as a beneficiary? To pass on the TFSA tax-exempt status automatically on death, secondary beneficiaries can be named for TFSAs. If the successor holder or primary beneficiary passes away, the account can be transferred to another beneficiary or beneficiaries, avoiding probate. #community #rbtaccountingservices #nelsonbc #cpabc #moneysavingtips
Remember Canada's Veterans. For resources, videos, and information on Nov 11th Remembrance Day, and on Nov 8th Indigenous Veteran's Day, see below:
Monday | 10:00 AM — 4:00 PM |
Tuesday | 10:00 AM — 4:00 PM |
Wednesday | 10:00 AM — 4:00 PM |
Thursday | 10:00 AM — 4:00 PM |
Friday | 10:00 AM — 1:00 PM |
Saturday | Closed |
Sunday | Closed |
Meetings by appointment only; no drop-ins, please call first.