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Pay your taxes on time

CRA-Proof Your Tax Filing

That’s right, tax season is upon us again, Calgarians! But before you break into a cold sweat, take a deep breath and avoid unnecessary stress and penalties with our brief guide to staying “CRA-safe” in 2024. Here’s what you need to know: Missing the April 30th deadline for filing your return or paying your balance comes with consequences. The CRA charges compound daily interest on unpaid taxes starting May 1st, and late-filing penalties that start at 5% of your 2023 balance owing

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common bookkeeping challenges

Bookkeeping in Calgary: How to stay on top of your business finances

Are you a small business owner in Calgary looking to streamline your financial operations? Look no further! In this article, we will guide you through the world of bookkeeping and show you how to stay organized and maximize efficiency in your finances. Bookkeeping is the backbone of any successful business, as it involves tracking and recording financial transactions accurately. However, many entrepreneurs find it challenging to juggle their daily operations while keeping up with the intricacies of bookkeeping. That’s where our

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documents necessary for incorporation in alberta

Everything You Need to Know about Registering a Corporation in Alberta

Setting up a corporation in Alberta is an exciting step for new business owners. This guide will walk you through the key steps to register your corporation, including filing documents, completing the registration process, and navigating additional taxes and regulations. Understand the Benefits and Responsibilities of Registering a Corporation Registering a corporation in Alberta can bring numerous benefits and responsibilities for business owners. Incorporating a business creates a separate legal entity that provides limited liability protection for its owners, meaning that

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personal income tax mistakes

Common Tax Mistakes People in Canada Make

Are you tired of making costly mistakes when filing your personal taxes? In this video, we’ll go over the top errors people make when doing their taxes. Tune in to learn how to file your personal taxes like a pro to maximize your returns and minimize your stress during tax season! For those who prefer to read, a summary is available below the video. Today, I’d like to highlight some commonly overlooked aspects when filing personal taxes. We’ve identified four major

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Accounting Calgary Top Choice Winner

Top Choice Accounting Award Winner for 2023

We Did It Again! We are so proud to announce that RMI Professional Corporation has been crowned the Top Choice Award Winner for Top Choice Accounting Category in the 2023 Top Choice Award Survey and it’s all thanks to you! This could not have been done without the dedication of our team and the love from our clients, and for that, we are very grateful to you all. Words cannot express how warm our hearts are from all the support we’ve received

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purchasing a new vehicle

Leasing vs Financing a Car

In today’s world, there are many factors to consider when it comes to purchasing or leasing a vehicle for your business. In our video, we will discuss some of the key factors to consider when making this decision, including the cost of the vehicle, the length of time you plan on using it, and whether or not it will be used for personal use. For those who prefer to read, a summary is available below the video. The importance of considering

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Top Choice Accounting Category Calgary

2023 Top Choice Award Nomination

RMI Professional Corporation is proud to announce that we are a 2023 Top Choice Award Nominee in the Accounting Services category! Now, we need your help to WIN! Voting is now open and if you feel that we have earned your vote, we would appreciate your support. Winning the Top Choice Award is one of the largest endorsements a business can receive within North America, so this is a BIG deal! Your vote will automatically enter you into a draw for

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mortgage taxes calgary

Beneficial Trusts in Real Estate Investing

In this video, Keith Uthe from Enrich Mortgage Group talks to RMI’s Managing Partner Irfanali Moledina about advantages of Beneficial trusts in real estate investing. For those who prefer to read, a transcription is available below the video. using beneficial trusts in real estate investing Keith: Hey good afternoon everyone, Keith here with Mortgage alliance and Enrich mortgage group, and I am fortunate to have here someone who’s got some extensive knowledge and is going to help give us some understanding

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Selling a business in Canada

Are you thinking of selling a business in Canada? Learn more about what does it entail and what are possible tax implications in this video. For those who prefer to read, a transcription is available below the video. Good afternoon everyone. It’s Irfanali Moledina with RMI Professional Corporation. I hope everyone’s had a fantastic week and is enjoying the summer sunshine that we’re getting here in Calgary. Today I wanted to touch on a topic that we’ve been getting asked a

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How to deal with the CRA

Did you forget to file your taxes or need a payment plan? It is always best to get in touch and deal with the CRA right away or, better yet, ask your tax professional to do it for you to ensure that you do not pay more than necessary. For those who prefer to read, a transcription is available below the video. Good afternoon, everyone. It’s Irfanali with RMI Professional Corporation once again. I hope everyone’s had a great past week

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Small Business Accounting Firm

RMI’s Tax Party 2022

In celebration of all the hard work our team put in during the 2022 tax season, RMI hosted a Tax party last Friday. We started with a lunch at the office and then moved on to our first activity which was the Locked Room.  We split into 3 groups and got ourselves locked in. The task seemed simple – get outside as soon as possible. It was not as easy as you may think though, only 1 team actually managed to

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Best bookkeepers in Calgary

6 Bookkeeping Tips for Small Business Owners

Small businesses often have limited budgets, which can make it difficult to hire professional bookkeepers. However, there are a few simple bookkeeping tips that can help you keep your small business books in order without breaking the bank. First, make sure you have a system in place for tracking income and expenses. This can be as simple as using a spreadsheet or dedicated bookkeeping software. Second, stay organized by keeping all of your financial documents in one place. This will make

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Tax Deductions for children

Claiming children on taxes

Have you been separated or divorced with multiple children and aren’t sure how to claim them on your taxes? Watch this video to find out. As usual, if you prefer reading, the transcription is right under. tax deadline coming up Good afternoon, everyone. It’s Irfanali with RMI Professional Corporation once again. I hope everyone had a fantastic week. We are now into the month of April and so it’s that time of year for Small Business Accountants. It’s personal tax season.

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Tax on cryptocurrency

Crypto Tax in Canada

Are you into crypto? Did you invest in cryptocurrencies or are trading crypto? And have you thought about crypto tax? Check out this video to find out what tax consequences dealing with cryptocurrencies has for you. As usual, if you prefer reading, the transcription is right under. tax treatment for cryptocurrencies Good afternoon everyone. It’s Irfanali here with RMI Professional Corporation. I hope everyone’s had a great couple of weeks. We’re in the middle of personal tax season. So our office

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Taxes and Accounting Calgary

RRSPs and Taxes

We are entering the busiest season of the year for accountants as we move deeper into 2022. RRSP deadline is approaching fast and many people ask how much to contribute and if RRSPs are the best option for them. As usual, find your answers in the video below and if you prefer reading, the transcription is right under. RRSP Contribution Good afternoon everyone. It’s Irfanali with RMI Professional Corporation. I hope everyone’s had a fantastic week. I know we’re in the

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