Our Latest Insight

nonprofit_accounitng

Nonprofit Accounting Essentials: A Comprehensive Guide and Best Practices

Nonprofit accounting involves meticulously monitoring the financial activities and progress of organizations operating for societal benefit rather than profit. This form of accounting encompasses documenting income and outgoings, overseeing expenditure, generating financial statements and analytical reports, managing budgets, and adhering to applicable legal and regulatory standards. What is Nonprofit Accounting?

Read More »
active business income passive business income
Business Taxes
Webmaster

Rental Income as ABI

Can rental income be claimed as Active Business Income (ABI)? Summary of Rental income as Active Income In most cases, income from the property will be considered passive income and

Read More »
What is T1 General
Personal Taxes and Finance
Nafees Chaudhry

What is T1 General Form

What is T1 General Form (Income Tax and Benefit Return) In the realm of Canadian taxation, the T1 General form serves as a cornerstone for taxpayers, shaping the landscape of

Read More »