The Schell & Associates Accounting Blog

Guide To Paid-Up Capital For U.S. Businesses in Canada

paid up capital accounting

When an American business establishes a subordinate branch in Canada, or when they acquire a Canadian business, it is important for them to maximize their paid-up capital. Paid-up capital is the amount of tax-free capital that the company can return to their shareholders. When it comes to the relationship and transactions between shareholder and company, […]

The Future Of Accounting: New Technology Means New Opportunity

Technology continues to evolve throughout all aspects of life, and for accounting it is no different. As technology grows alongside accounting businesses, new methods and practices develop that can create huge new opportunities that never would have existed before. But, these changes are coming so fast now that it can be hard to keep up. […]

2017 Income Tax Tips: What’s New This Year

2017 Income Tax Tips

It’s getting close to tax season for 2017, and as always there will be some differences in how income tax works compared to previous years. If you want to get a head start on your income taxes, it’s good to know what rules are new, what’s changed, and what’s been completely removed. Here’s a guide […]

Estate Planning and Wealth Management Strategies for 2017


With a new year comes new sources of financial stress — new jobs, new mortgages, new kids, and new expenses. If you don’t have proper planning in place to assist you in handling your money, assets, and estate, then any road bumps will hit you far harder than they would normally. That’s why it’s so […]

Assurance Services: How Improving Your Information & Decision Making Can Help Your Business


Assurance services are one of many types of services that Chartered Professional Accountants (CPAs) can provide for businesses. If your business needs more information or to interpret data to help make a tough decision, then assurance services is what you need. What Are Assurance Services? Assurance Services is a service provided by CPAs, and involves […]

Tax Tips For Your Home-Based Business


Running your own business can be incredibly stressful even before tax season. You have a lot of work to keep it running and making money, but keep in mind you’ll also have to keep up with doing your taxes. For your Home-Based Business (HBB), you might not realize that there are a number of ways […]

Foreign Income: How-to Reduce Double Taxation


If you are working or living in Canada and also earn additional income from another country, you can wind up facing Double Taxation from both nations. This is because Canada, and other countries as well, will tax your global income rather than just what you make directly within Canada. However, there are ways to reduce […]

Hire an Accountant for IRS/CRA Audits


You just received the dreaded notice in the mail. You are being audited by the IRS or CRA. As down as you feel right now, it is important to realize that things may not be as bad as they seem. In many cases, an audit can be resolved in no time at all – without […]

Professional Accounting Services is Money Well-Spent


There are many reasons why people opt against hiring a professional accountant. One of the most common is the money that it costs. Although you are required to pay for the services rendered, you need to keep one thing in mind: you are getting a lot in return for your money. Here are five reasons […]

Hire an Accountant to Get a Bigger Tax Refund


Are you interested in getting a bigger tax refund the next time around? Of course you are! There is nothing better than getting money back after filing your final return. For whatever reason, it makes most people feel good – like they are finally getting back at the government for all those years of paying […]