Accounting Advice in Calgary

Tax season is hectic for people. The internet may be helpful at times but everything you find there isn’t always reliable. There are several rumours, which spread wrong information to avoid any sort of confusion, make sure you consult with a tax accountant to clear any doubts you may have.

If you’re a Canadian resident or company that earns income outside of Canada, double taxation should be a top concern. After all, this form of taxation can have a costly impact on your yearly profits, and in many instances, it’s fully or largely avoidable. 

To improve your understanding of double taxation and how to avoid it, here is some information from Masone and Company, a Calgary accounting firm specializing in individual and corporation tax services.

Budgeting and forecasting have always been among the most crucial exercises across industries. They drive growth and development as they are essential to efficient operations. Unfortunately, many organizations fail to perform them accurately and that’s where accounting firms come in.

If you are concerned with the budgeting and forecasting process of your company, you should think of calling Masone and Company. We have been providing financial services for over 25 years while specializing in taxes and accounting. We assist our clients with issues arising from factoring and venture capital.

Here are ways to create effective budgets and more accurate forecasts to meet your financial goals:

It's never too early to start preparing your taxes, and you definitely shouldn't wait until April to do so. Getting organized can help you minimize what you owe and maximize your tax return. At Masone and Company, an accounting firm in Calgary, we believe that one of the most effective ways to get organized in preparation for filing taxes is with a good checklist.

No matter the size of your estate, there is never a bad time to think about trust and estate planning in Calgary. Having a comprehensive estate plan in place is important for ensuring that all of your beneficiaries are provided for, as well as for limiting your estate's exposure to Canada's deemed disposition tax.

Running a successful business means staying on top of your business finances. As financial record-keeping is a full-time job in its own right, business owners who try to do it all themselves often spread themselves too thin. The Calgary accountants at Masone and Company have the training and experience to prepare and analyze all of your business' financial affairs. Working with a professional accountant can benefit your business in the following five ways: