Posts

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Reasonable Per-Kilometer Allowance

A link is provided in the government section of the blog to allow you a quick access to CRA site, where they list the per kilometer allowance rates. These are the rates that CRA allows an individual to charge back to a corporation for using their own vehicle on business related travels, without incurring a taxable benefit.

The company takes the deduction for travel expenses, and the individual who has the claim, and is reimbursed, uses the funds to offset their cost of using their own vehicle without having an income claim.

This is the link: Per KM

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News for Real Estate Sales Personnel

It looks like Ontario has announced some changes which allow real estate professionals to incorporate and be paid through Personal Real Estate Corporations (PRECs).

The link to the governments site is Here and there may be additional information to follow.

Thank you for the feedback from our clients in that type of business. We truly appreciate you being part of our network of information providers.

Regards,

Jack Hollingsworth

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Return of Tax Documents

This past season required that documents that you provided to our office, be retained by us, until some time, where we could arrange for you to pick them up.
Right now, we are in the office from 9:30 am to 1:00 pm Thursdays, to accommodate your needs to drop off or pick up files.

You can schedule a “Pickup Files” appointment by pressing this Link

We have not lately been making inhttps://outlook.office365.com/owa/calendar/HollingsworthAssociates@395Wellington.onmicrosoft.com/bookings/ Ofhttps://outlook.office365.com/owa/calendar/HollingsworthAssociates@395Wellington.onmicrosoft.com/bookings/fice appointments,  as it seems we can get most of our bookkeeping/accounting duties performed from home, and during a good part of the year,  the “in office client meetings” are not generally necessary.

Please don’t hesitate to contact us : 519-649-2001 if you have any questions or requirements.

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Home Office Expenses – New to you?

Are you now working from a home office?
With the proper documentation on hand, you may be able to reduce your taxable income by some expenses that you are now paying from your home.
Your hydro bill will go up if your computer is turned on most of the time. The space you occupy is probably being air conditioned, and soon enough, will be heated, at a cost. You may be paying insurance, property tax, or rent, repairs, snow removal, gardening costs, cleaning, and a multitude of other costs, that may have always been with you, but with your newly dedicated space, it may be a reduction in your taxable income that your employer paid before you started working from home.

Here is the link to read a summary that may be a benefit to you:

Home Office Expense Link – Click here

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The Return of your Tax Documents

Most tax returns this year, were prepared, and supplied to you through a “portal”, or through regular email as an attachment.

We needed to obtain a signed “Information Return for Electronic filing” document back for our files, and in compliance with CRA’s requirement to have that document available, before e-filing.

Some individuals do not have the luxury of the internet, and for those, we provided a “drop box” outside our office door. We retained those documents because it was taking an unusual amount of time for tax summaries, which we can reproduce, to arrive from our office, to your home, by regular mail delivery.

We would like to invite you, by appointment, to pick your documents up from our office, shortly.

For those that have an internet access, and an email address, we will send out an invitation to “book an appointment” for the pickup of your documents. It won’t take long, and we were thinking of spacing the appointments apart by less than 10 minutes, for you to enter our office building, where a table will be set up with your documents in serial number folders.
For those without an email address, we will call later, to book an appointment for you to pick your documents up.

We welcome your feedback to this idea of having your documents returned, by a scheduled “pick up”, and look forward to any positive suggestions you may have that will allow us to expedite this task, as smoothly as possible.

Take care, stay happy, healthy, and enjoy your day.

Regards,

Your Hollingsworth and Associates Team

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The Real Reason for Wearing a Mask

I don’t go out that often at all these days, unless it is imperative, like grocery pickups, weekly trip to work (accounting is considered a “necessary service”) , doctors appointment that shouldn’t be cancelled, and to walk across the road to drop off the mail, or pick some up.

When I do go out, I am really shocked to see the number of people who still don’t wear masks in this ugly pandemic that is causing a lot of people to get sick, and die.  It’s nice that some actually recover, and go on to live some reasonable semblance of life.

I know the people who don’t wear masks are probably following those country leaders who refuse to wear one because “that’s not me”, not realizing that monkey see, monkey do, and keep on racking  up the R points.  I sure wouldn’t point a finger at just a neighboring country,  because there are probably a lot more countries in the world that have their society follow the example of their leaders, good, or bad, wise, or the other, rich, or poor.

I came across this article in The Atlantic, and thought I would share it with you.  Let me know if it expires, and I’ll remove this note from our little blog:

Take care, and have a nice, happy day, and don’t let the germs get you.

The Real Reason to Wear a Mask, Lone Ranger!

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New Procedure for 2019 Returns – Our Office

For anyone with an email address, we are sending an invitation to a Hollingsworth Portal. You accept the invitation, and on the next screen you have to advise how you would like to confirm your identity. It’s generally by return email, or text to your phone.

Either way, a code will be provided and you enter that in the screen before continuing.

You then have a user name (your email address) and a password, that you have made up.

Then, advise us by return email that you can get into the portal, otherwise, it may time out on you and it will have to be resent.

We use the portal to upload your finished tax return, and authorization form, which goes into it’s own directory. You can “digitally” sign the T183 form at the right time, and it is pretty straight forward.

Any documents that we require, or information that we require from you, will be communicated to you later.

For anyone without an email address, our office will be open Thursdays between 9:30 and 1:00 pm for a drop off in a bankers box outside our office door. We will provide a summary when it is completed by “snail mail”, and the authorization form must be mailed back before we can e-file.

We will send electronic invoices when finished, for payment, and you can use either CC or email transfer, or mail in a cheque.

For those without email, a cheque can be mailed, or you can call us and we will return your call, and you can then provide CC numbers that we can document towards your invoice.

Hope that answers the bulk of the questions, and if not, drop us a line, or give us a call.

This is the link to your portal: My Portal Shared with Hollingsworth

519-649-2001

Jack

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An Update to our Office Procedures

Due to the Covid-19 epidemic, our office is closed, and we will receive your information through email, mail, a portal, and provide a banker’s box drop off in front of our office door on Thursday April 9, 2020, where you can leave your documents in a pre-numbered envelope for us to pick up.  Our door will be locked, and we will remain to supervise that the drop off box remains intact, and for our use only.  We hope to weekly leave a banker box outside our office door, and Thursdays seems to be alright for now.

We can mail back to you a summary of your personal tax information, with a T183 consent form, that we require your signature on, before we are authorized, by you, to e-file your return.

For those that have an email address, please write us by email (jack@hollingsworth.net) that you would like a portal set up, and we can have a link to your portal sent to you.

For those that have lost employment, or self employed income, there is a website you can go to apply for CERB which amounts to $2,000 ($500/week for 4 weeks) that can be repeated 4 times.  It may help with some of those costs that are still lingering that you need assistance with.

This is the link to the governments Canadian Emergency Response Benefit

Read some history on the Spanish Flu.  It started in January of 1918, and ended December 1920, and it took many lives, and made many ill.  Some of us had parents or grandparents that lived through that devastation, and if our ancestors did not learn anything from that experience, then we won’t as well, and are doomed to repeat history.

There seems to be many politicians that will try to make us believe they know more than the medical professionals, scientists, wise people of the world, and the humble leaders that have quiet voices.  Let your conscience dictate the path to your own better health and well being, and know the tall soap box of the many who know the electronic media, will topple when the earth’s rumble causes people to look to a better way.

Stay happy, healthy, safe, and give your distant friends and family members a hug through the telephone, when they are afar.

We will see each other again.

 

Jack

 

 

 

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Due to the Covid-19 Virus

Our office will be closed for the next 2 weeks.  We are only accepting documents through the portal set up for you to use.

Please call in to 519-649-2001 to confirm your email address, and have your documents scanned and uploaded to the portal.

 

We will prepare your return, and send a signature request online, through a document portal.

 

For those without email address, we will accept your documents manually in 2 weeks.

The filing deadline has been extended to June 1st, and we should take advantage of that, and stay healthy, and with family, at home.

 

On Thursday April 9th we will accept drop offs, unless mandated to stay closed, by Government.

 

 

Stay safe everyone!

Your Hollingsworth & Associates Team