Tax services during COVID-19 outbreak

Olga Lipnitskaya CPA

Our office continue to file taxes and provide tax services at full capacity during COVID-19 outbreak. We accept documents in electronic format to ensure everyone’s safety. We’ve updated our Checklist so that you can fill it at home from any computer, tablet or i-phone.

In order to reduce the necessity for taxpayers and tax preparers to meet in person during this difficult time, the Canada Revenue Agency will recognize electronic signatures.

We are proud to support tax payers from North Vancouver, West Vancouver, and Vancouver areas to file their taxes during this difficult times.

Please email for detailed instructions : OLGA@LCPA.CA or call 604-719-5202.

Economic response to Covid-19 for businesses in Canada

The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18, 2020 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

The deferral is only for income tax, the due dates for filing and payment of GST and payroll deductions remain unchanged.

The Canada Revenue Agency will not contact any small or medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and representatives.

For more details please visit: https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#more_time_to_pay_their_income_taxes

FILE TAX FOR SMALL BUSINESS North Vancouver, West Vancouver, Vancouver areas

Our office already working on tax returns and GST returns for 2019 for Small Businesses and Owner Operated Companies. The tax software for 2019 tax filing is already available which allow us to process your taxes for 2019. The electronic filing of 2019 taxes will be open by CRA as early as February 24, 2020. Have your taxes done now, so your tax return will be filed at the earliest possible day. File tax sooner and concentrate on what you like: your work! Please visit our office with all your papers, we are walk-in Accountant office, no appointments needed to drop your documents 8.30 am – 2 pm, by appointment 2 pm – 6pm. Please contact: 604-719-5202, OLGA@LCPA.CA #OlgaAccountant #OlgaCPA #AccountantWestVancouver #AccountantNorthVancouver #AccountantVancouver #AccountantNearMe #SmallBusinessAccountant #FileTax #FileTaxSmallBusiness #Filetax2019

Time management, small business, the perfect business meeting

The average meeting in the U.S. and the U.K. is an hour long, but experts suggest limiting them to 15 minutes .

It’s an open secret that employees dread most meetings. They can drag on, take time away from actual work and muddle things more than they clarify. 

To figure out why, the scheduling platform Doodle looked at 19 million meetings and interviewed more than 6,500 professionals earlier this year. It found that pointless meetings cost companies US$541 billion in 2019, and the average professional spent two hours in unnecessary meetings every week. In fact, more than a third of those professionals considered unnecessary meetings to be the biggest cost to their organization. It’s no wonder, since the study also estimated 24 billion hours will be lost to them next year.

So what’s the solution? First of all, meetings should be a lot shorter. Doodle found that the average meeting in the U.S. and the U.K. is an hour long, but experts suggest limiting them to 15 minutes. Former Yahoo! CEO Marissa Mayer pushes this ethos even further—she’s known to cap her meetings at 10 minutes. 

Meetings might also have too many participants. As their number increases, quality of conversation erodes, with individuals either jostling to have their voices heard or remaining silent. That’s why Robert Sutton, a Stanford University professor of organizational behaviour, determined the optimal number for a productive meeting is between five and eight.

Even in this increasingly digital age, the vast majority of Doodle’s respondents also reported preferring face-to-face meetings, ideally in the morning. And researchers at Washington University discovered that stand-up meetings led to greater collaboration than seated ones. 

Since it’s not as comfortable as sitting down, standing pushes people to speak more efficiently. The reality is meetings will always be an essential part of the workday. Instead of treating them as a necessary evil, companies should view them as an opportunity to improve productivity.

*This blog is for information only and not to be used as tax advice or planning without first seeking professional advice. Information is subject to change without notice. 

**This article was originally published in Pivot magazine in 11.06.2019. Although every reasonable effort has been made to ensure the accuracy of the information contained in this letter, no individual or organization involved in either the preparation or distribution of this letter accepts any contractual, tortious, or any other form of liability for its contents or for any consequences arising from its use. Pivot Magazinr is prepared by the Chartered Professional Accountants of Canada . Ali Amad– Author.

Olga Accountant Vancouver

CPA BC is proud of female leaders running businesses in BC.

CPA BC recognizes inspirational leaders in it’s Annual Membership Program.

Public and private sector companies need more woman leaders. By providing choice, being open to innovative solutions, and proving greater flexibility in the workplace, balance of work and life can be supported. This will enable more woman to join the workforce and create a better work environment that places people first.

Tax Season 2019

Vancouver accountant Olga

Vancouver accountant Olga

As personal taxes filed for 2018, it’s a good time to think of 2019 tax season and get ready for the next year personal tax filing. RRSP is one of the ways to invest in your retirement and optimize taxes. The notice of assessment will have RRSP deduction limit. Please make sure not to invest over RRSP limit, as that would result in additional tax on over-contributed amounts. Keep our contacts for the next tax season Olga@LCPA.ca / 604-719-5202 / www.LCPA.ca. #olgalipnitskaya #northshoreaccountant #northshoretax #taxincanada #vancouveraccountant #accountantinvancouver #filecorporatetax #filetax #tax #taxrefund #money #filebusinesstax #taxseason #cpa #taxtips #olgacpa #onlinebusiness #growyourbusiness #businessincanada #financiallyfit #supportbusiness #investment

File tax for business or individual

Helping businesses and individuals to file their tax returns in 2019 tax season. Our office published a checklist to assist with collection of required tax slips and documents for accountants. Please use the link: http://lcpa.ca/tax-services-north-vancouver/

Contact our office Olga@LCPA.ca / 604-719-5202 / www.LCPA.ca to file your taxes. #olgalipnitskaya #northshoreaccountant #northshoretax #taxincanada #vancouveraccountant #accountantinvancouver #filecorporatetax #filetax #cpa #taxtips #olgacpa #onlinebusiness #businessincanada #taxplanning

Rental Income

Rent income

Rental income.
Income earned from renting out property would be rental income or business income depending on the duration of the rental and the types of services included in the rental agreement. Contact our  Chartered Professional Accountant office in north shore to get more details.Rent income

Review Engagement Report North Shore Accountant

Effective December 2017 The accountant would issue a new Independent Practitioner’s Review Engagement Report.

Review Engagement Report often required by banks and lenders when company applies for bank loans.

Please contact our office to get more details.