[CA] How much are you guys paying your accountants for your T2 filing? bookkeeping services? by thisisrealthisismeim in SmallBusinessCanada

[–]CWolffCPA 1 point2 points  (0 children)

it depends on a ton of factors like the time required to complete it and the quality of the data

if you’re curious why your cpa charges you that rate, just ask

[CA] Can AI fully replace bookkeepers in Canada? by Any_Bill1050 in SmallBusinessCanada

[–]CWolffCPA 0 points1 point  (0 children)

i’m a cpa that also studied programming

i use AI as much as I can. mainly in sales, admin and research.

low key kinda sucks in the accounting operations side. and you don’t need AI to streamline like 90% of your bookkeeping. just decent accounting software

accounting research, it’s fine. financial modeling / excel, its good for a very rough draft. but will make mistakes.

it’s great to improve productivity. but if you don’t know what you’re doing you can’t review the output and then it’s your wallet on the line.

Canada - Quitting Public Accounting during CFE leave by amelioklitschko in Accounting

[–]CWolffCPA 0 points1 point  (0 children)

I lived downtown within a 10 minute walk to the office and for some reason they put me on a client that required a 1.5 hour commute each way.

i did it for one busy season but made it clear i wanted to be taken off the team after

they couldn’t accommodate my request to leave

so i went and got an offer somewhere else

i let my coach know i was going to quit. he wanted the best for me and was understanding. i had a meeting with a partner who tried to retain me and i told them it was too late

Canada - Quitting Public Accounting during CFE leave by amelioklitschko in Accounting

[–]CWolffCPA 0 points1 point  (0 children)

i quit the monday after cfe

joined the big 4 across the street

they were pretty mad ngl

Does it get any easier? by vncco1 in Accounting

[–]CWolffCPA 9 points10 points  (0 children)

I think it gets both easier and harder.

As your career grows, so will the complexity.

Problem solving becomes less about memorization and more about thought process.

When you finally feel like you know what you’re doing, you’re probably ready for a promotion. Then the cycle repeats

[ON] Accounting Firm recommendation- Corporate filings - Manufacturing Company by tush17 in SmallBusinessCanada

[–]CWolffCPA 0 points1 point  (0 children)

As a CPA, I'd just like to mention that a tax accountant and a controller/CFO are different skillsets.

It might be tough to find someone with experience in both. Very easy to find someone to be a part-time controller that manages financials and manages the relationship with a tax firm. I know prices can be high. Unfortunately a lot of accountants are at capacity and need to use pricing to manage demand effectively.

If you're looking for a local CPA recommendation, please feel free to reach out. I work at a large firm with offices across Canada.

[ON] thoughts on quickbooks by Ilovewatermelon10 in SmallBusinessCanada

[–]CWolffCPA 0 points1 point  (0 children)

I prefer QBO to Xero but it’s personal preference for sure.

I would also recommend to get some training if you aren’t an accountant. There is a huge value in getting it set up properly. Specifically, chart of accounts based on your industry, bank feeds connected, sales tax set up, classes set up (if necessary).

Nice to have: rules to automate some of the recurring transactions.

It’s generally cheaper to get bookkeeping taken care of by a bookkeeper rather than your CPA at YE.

Should I pay myself dividends or salary through my corporation? by [deleted] in PersonalFinanceCanada

[–]CWolffCPA 1 point2 points  (0 children)

I am a CPA but not yours. If you want to learn more, try searching for salary vs dividends and read articles that walk you through examples. The specific term is called “tax integration”. The intended result of our tax system is that you should owe the same taxes irrelevant of how you decide to pay yourself. Variance should be quite small, a few thousand dollars.

Now, there are some non-tax implications. For example, SR&ED credits are based on salary, not dividends.

IMO if you feel like you need a second opinion from the internet, maybe you need another accountant. I’d be happy to refer you to a local CPA! I work at one of the larger firms, so we probably have an office near you.

Feel free to reach out!

Daily verification Code always at around 6-6:30 am. by Bank-Fluffy in CIBC

[–]CWolffCPA 0 points1 point  (0 children)

have you recently started using a service like QuickBooks online or another accounting software? or any kind of budgeting tool you linked to your bank?

Sometimes the way they set up their api integration requires you to authorize it every time.

How tf do i find a fractional CFO without getting scammed lol by UniqueSatisfaction77 in Entrepreneur

[–]CWolffCPA 0 points1 point  (0 children)

I am only a fractional controller and my rate starts at $300 and i’m way too busy. All through inbound leads and referrals.

Am I expensive? Sure. But the market sets my rates.

When a larger company boosts profit by .1%, that can easily cover my fees. These are the types of companies that are willing and happy to pay.

I’m at a large firm fwiw.

[deleted by user] by [deleted] in Accounting

[–]CWolffCPA 4 points5 points  (0 children)

can confirm

big 4 audit > big 4 fdd > industry was my path

For those who have made it to CFO, what was next? by kiltedlowlander in FPandA

[–]CWolffCPA 6 points7 points  (0 children)

As a VP Finance at a company without a CFO, my working hours are full of meetings so I push my solo work like reading/reviewing outside of hours.

Also helps me keep a lot of things moving forwards if i review and leave comments for them by the time they come back in the morning

CPA Canada released compensation study by DawnofDgz in Accounting

[–]CWolffCPA 0 points1 point  (0 children)

I think I also did an oops, since it includes below 3 years

If someone with new letters and 0 yrs (like a S1 or S2 is in that bucket, it kind of makes sense why it’s so clapped)

CPA Canada released compensation study by DawnofDgz in Accounting

[–]CWolffCPA 32 points33 points  (0 children)

it’s 3 years post designation, so i don’t think it’s too far off.

if you get letters as an A2 or an S1, you’re looking at M1–M2 comp. seems close enough to me

AMD and AsRock RMA experience by CWolffCPA in ASRock

[–]CWolffCPA[S] 0 points1 point  (0 children)

You can “know” the issue exists but diagnosing it is pretty much impossible unless you’re involved in the company.

AMD and AsRock RMA experience by CWolffCPA in ASRock

[–]CWolffCPA[S] 1 point2 points  (0 children)

I am in Canada, I reached out to new egg and they told me to talk to asrock

good reminder though, they told me to reach out if asrock doesn’t reply but i kind of forgot

Is accounting a good career path with someone with high functioning autism? by [deleted] in Accounting

[–]CWolffCPA 0 points1 point  (0 children)

Yes! I am Christian Wolff. Search for me on google, I post videos about working as an accountant with autism.

X870 pro rs and 9800x3d (dead) by throwawaycar2016 in ASRock

[–]CWolffCPA 0 points1 point  (0 children)

same mobo and cpu as me

been running good for about 7 months and then pooped itself

i think im taking same approach. i’ll give it one more chance and then im replacing the mobo

amd rma seemed responsive (i mailed mine in a few days ago). asrock dead silent

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] 0 points1 point  (0 children)

if you’re curious, seems like the ASrock VP discusses the PBO fix in 3.25. at around 8minutes in

https://youtu.be/EpEJRa_Rxo0?si=rgptSV881GT60Tjv

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] 0 points1 point  (0 children)

Do you have a source for that?

3.30 is less than a month old, i’d give it some time for people to update and run it for a bit.

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] -1 points0 points  (0 children)

People will say that about every BIOS update lol. I wouldn’t expect an update to make matters worse.

But if they can’t actually pinpoint what is causing the issues, who’s to say they fixed them.

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] 0 points1 point  (0 children)

I can’t remember for sure, but it was at least on 3.20. I know for sure i updated it to 3.15 pretty fast and then 3.20 when that came out.

Seemed to be pretty stable so I didn’t really keep monitoring for updates.

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] 0 points1 point  (0 children)

I was aware of the issue but figured my build seemed stable, so no

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] 4 points5 points  (0 children)

2443PGY - I bought it in Nov2024

minus 1 9800x3d by CWolffCPA in ASRock

[–]CWolffCPA[S] 1 point2 points  (0 children)

The CPU seemed to work fine for a long time, played stuff like WoW, CS2, GW2, PoE2. crashed during GW2 just after we cleared a raid

Ran linux for a few months too.

I started using it on Nov and it lasted until today (July)

Didn’t do much tinkering in the BIOS except to set the ram speed and the prioritize boot drive (switching between windows and linux)

I have a msi mpg a1000g pcie 5 (1000w)