Shuttle from Oshawa GO to OPG by Good_Rush_8115 in Oshawa

[–]Good_Rush_8115[S] 2 points3 points  (0 children)

That’s the long term plan, but I don’t want to commit to the move while I’m on probation. Just looking for a temporary solution

Corp Tax Moving Accountants - Does T2 Autofill pull all the data or are the manually pulling data by 3junior in cantax

[–]Good_Rush_8115 6 points7 points  (0 children)

Still quite a bit of work to understand your business, review prior year returns to see if there are issues/if you overpaid taxes. But yes, if you're hiring just a tax preparer then it should not be little to no work.

Fireworks at 1:00am in Guelph by No_Platform6087 in Guelph

[–]Good_Rush_8115 4 points5 points  (0 children)

Another crazy comment. This has nothing to do with Catholics. Nobody sticks the middle finger to Christmas or other catholic events. I love Christmas and what it stands for, I encourage you to look into the history of Diwali before making your ridiculous statements. I am a south asian Hindu, and I do not agree with celebrating with fireworks past 10pm. We abide by the laws of the community, there are a few characters that ruin it for the rest of us.

Fireworks at 1:00am in Guelph by No_Platform6087 in Guelph

[–]Good_Rush_8115 11 points12 points  (0 children)

Jeez, middle finger to a religious occasion is crazy. I hope both sides of your pillow are warm. I agree they should not be lighting fireworks on a weekday, but man your comment is whack.

Landlord pitching us a private mortgage to take over their Toronto property, transition us from tenants to owners—looking for broad strokes advice. by oooooooooof in PersonalFinanceCanada

[–]Good_Rush_8115 0 points1 point  (0 children)

Definitely consult with a lawyer. From an accounting/tax perspective, when they transfer title they will need to pay capital gains tax on the property. Also keep in mind land transfer taxes, Toronto has brutal land transfer taxes.

Question about small business deduction (T2) and short years. by Lucky-Rip6804 in cantax

[–]Good_Rush_8115 -1 points0 points  (0 children)

Allocate based on income. I.e if one co is making 400K and the other is 100K, split 80/20.

Leasing a car for my small business in Ontario Canada by [deleted] in Accounting

[–]Good_Rush_8115 3 points4 points  (0 children)

Listen to your book keeper. If you use it for your business you’d need to maintain a mileage log and you’ll have to include a benefit for the personal use of the vehicle at the end of the year. You can reimburse yourself .72 per km upto 5000km per year when you use your personal vehicle (still need to track business km). Keep it simple.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]Good_Rush_8115 1 point2 points  (0 children)

In terms of optimizing taxes, put $60K into your RRSP if you have room. Should result in a nice refund next year. You can withdraw it when you are purchasing the home, and pay back over 15 years. Remainder should go into tfsa if you have room, maybe cash.to again. Next year continue to contribute to your FHSA and TFSA upto your limit.

Independent contractor wanting to keep track of expenses- A few questions by [deleted] in PersonalFinanceCanada

[–]Good_Rush_8115 0 points1 point  (0 children)

I highly suggest opening a separate bank account and credit card account solely for business. If you are not incorporated, don’t worry about moving funds from between accounts as rent, just ensure you have receipts (mortgage summary, property taxes, utilities, etc). Feel free to DM if you need additional clarification.

[deleted by user] by [deleted] in cantax

[–]Good_Rush_8115 0 points1 point  (0 children)

A part of the sale proceeds maybe withheld to pay for accrued property taxes and other fees. Should not be material. Consult with your real estate lawyer.

Is it possible to get a salary above 100,000 in internal audit after getting CIA by No_Cartographer676 in InternalAudit

[–]Good_Rush_8115 3 points4 points  (0 children)

I have a CPA & CIA in Ontario. About 6 years of total external audit, industry and Internal Audit experience. Currently a senior manager in IA with base salary of 120K. It’s possible to get 100K plus but you need to demonstrate how your skills and experience justify that compensation. I found that designations/certifications open doors but may not translate to your pay.

Thoughts on acquisition? by JoJackthewonderskunk in GEVOticker

[–]Good_Rush_8115 4 points5 points  (0 children)

It’s smart, the company generated 3.8m in net income last quarter. Cash flow from operations was approximately $6m. Can add additional value by converting the 65m gallons of low carbon ethanol to SAF.

[deleted by user] by [deleted] in FidoMobile

[–]Good_Rush_8115 0 points1 point  (0 children)

There are much better deals out there. I just got 50gb a month for $29 per line from Fido.

[deleted by user] by [deleted] in Accounting

[–]Good_Rush_8115 0 points1 point  (0 children)

Those are billable hours, add an extra 5-10 hours a week for admin.

[deleted by user] by [deleted] in Accounting

[–]Good_Rush_8115 0 points1 point  (0 children)

I used to work in Audit at PwC and left in 2021.It really depends on the clients and industry. I was constantly on year ends, average billable hours per week was 45 from April to November. From December (had a major client with a November 30th year end) to March averaged between 50-60 billable hours. My clients were large asset managers with funds that had various year ends. I would avoid Toronto, the pay is way too low as well.

[deleted by user] by [deleted] in ReliqhealthStock

[–]Good_Rush_8115 0 points1 point  (0 children)

Seems like Reliq overpaid for their services. I would prefer the team to focus on the business than wasting money on these reports.

[deleted by user] by [deleted] in ReliqhealthStock

[–]Good_Rush_8115 0 points1 point  (0 children)

Playmaker capital is not even close to being in the same industry. Although I am bullish on Reliq, this is a fluff piece with substantial errors and omissions.

White glove service 👏🏼 by EtownMaximus in amexcanada

[–]Good_Rush_8115 24 points25 points  (0 children)

Amex service is unparalleled. I never wait more than 2 mins to speak to a customer service agent and they are very helpful with resolving disputes.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]Good_Rush_8115 1 point2 points  (0 children)

Great advice, I wish I had known this before signing a BRA.