Nutter's Accounting Service

Nutter's Accounting Service Accounting

12/23/2025

Good Morning.

We would like to thank all the people that used our service.

We appreciate your support.

May you all have a very Merry Christmas and Happy New Year.

May you all be blessed with good health.

Find your passion. Make your goals and see them blossom.

See you in 2026.

Sincerely

Murray. Doug and staff

Another year is upon us drop by and pick up your complimentary wall calendars, magnetic calendars and day planners.
11/17/2025

Another year is upon us drop by and pick up your complimentary wall calendars, magnetic calendars and day planners.

04/30/2025

We will be closing the office Friday May 2nd and reopening on Monday May 5th. Back to our regular hours. Monday to Friday 9 to 5.

04/22/2025

Coming down to the wire with the Income tax deadline looming.

Just a reminder we're heading into our last week of extended hours.

This week Monday to Thursday 9 to 8
Friday 9 to 5 and this is our last Saturday (April 26th) 10 to 4.

April 28 & 29 will be our last evening availability for this tax season.

Thank you everyone for your continued support! We truly appreciate it.

03/03/2025

Extended tax season hours start today.

Monday to Thursday 9 am to 8 pm
Friday 9 am to 5 pm
Saturday 10 am to 4 pm

These hours are for March & April

If you have any questions give us a call at 506-832-9114 or email us at [email protected]

Stop by and grab your 2025 calendar compliments of Nutter's Accounting Service! Hard to believe another year has almost ...
11/12/2024

Stop by and grab your 2025 calendar compliments of Nutter's Accounting Service! Hard to believe another year has almost come and gone.

04/15/2024

Coming down to the deadline wire. This is the last two weeks of our extended tax season hours.

Monday to Thursday 9 to 8
Friday 9 to 5
Saturday 10 to 4

This year we will be closing the office on May 1st and returning May 6th for a much deserved/needed break.

As always we thank all our clients that come through our doors at Nutter's Accounting Service.

02/25/2022

Our extended tax season hours start Monday February 28th.

Hours:

Monday to Thursday - 9 am to 8 pm
Friday - 9 am to 5 pm
Saturday - 10 am to 4 pm

If you have any questions or want to set an appointment up please give us a call or send us an email.

832-9114 or [email protected]

12/22/2021

Holiday Hours:

Dec 24,2021 closed
Dec 27,2021 closed
Jan 3,2022 closed.

12/22/2021

With the last week of the year approaching this is a good time to reflect on your investments, business or personal finances for 2021.

With investments review your portfolio with your rep and if you have some capital gains during the year, it a good time to dump the loser ones that have no potential of returning to the original amounts and apply the loss against your gains and invest into some money makers and ultimately reduce the tax payable on your gains.

How has 2021 been for business? You have a above average year, average year or a downer year?
Well now is the time to review before year end. If you need to replace old equipment now is the time, so you can use the half year rule and claim full depreciation in 2022.
Good time to strike a deal as it is the slow time use it to your advantage.

Review your insurance, your advertising campaign not working for you, or somewhat did, you have some contracts that are close to expiring, maybe you can create a better deal for you.
Can you do some income splitting with your spouse?

In general its time to look at the future, if you don't know where you have been, how can you plan on where you want to go.

You personal finances, review your insurance, investments, financing, expenditures you made or plan to make in the up coming year.

Ever consider talking to someone and maybe just maybe develop a plan(lets not use the dirty scary word budget, but is it that bad of a word) maybe see where and how you can save a few dollars, we all like to do that.

Look at your personal tax situation before the year ends maybe RRSP's can be helpful to you.

Be kind to yourself, you owe it to yourself to ask the question, dare I look at my finances, just maybe having someone review them may help.
Don't be embarrassed to ask for help, there are no stupid questions , if its a concern to you then its a valid question.
We do what we do and the reason seemed right at the time, whether it is or not.

Look in the mirror clear the cobwebs away and see what a beautiful, kind, smart, good looking person you are, don't let fear and pressure of finances hold you back.

Seasons Greeting and Happy 2022

12/02/2021

CRA's View On Shareholder Loans:

Avoiding red flags with CRA is a good idea, but for small business owners the shareholder account can present such a threat.
Here's how a taxpayer can get into tax audit trouble.

A "debt" balance (funds advanced to the shareholder) in a shareholder account creates a tax problem or issue for the shareholder and the company. The Act sets out rules in subsection 15(1) and 15(2) which can result in punitive tax consequences.
Subsection 15(1) considers that the "bedit" balance is an appropiation of corporate property and , if the amount is not repaid by the shareholder to the corporation by the end of the first taxation year following the taxation year in which the balance arises, the amount will be added to the shareholder's income and will not be deductible to the corporation. This results in a "double-tax" since the amount must still be repaid, and will require the shareholder to use tax-paid funds to do so, or to take additional income to offset the outstanding debit.

Subsection 15(2) considers that the "debit" balance is a loan made by the corporation to the shareholder and, if the "loan" is not repaid by the shareholder to the corporation, by the end of the first taxation year following the taxation year in which the loan arises, the amount will be added to the shareholder's income. However, unlike 15(1), repayment of the "loan" will be deductible against the shareholders income,in the taxation year of repayment.
This effectively avoids the "double-tax" issue created by virtue od subsection 15(1) tax assessment.

So its a good idea to not file a corporate return with a debit balance in the shareholder loan account.
Remember the shareholder loan account balance must be reported on schedule 100 of the corporate tax return.

11/23/2021

CRA has announced the CPP maximum pensionable earnings and premiums payable by employers and employees for 2022.
Self employed workers will want to make sure they understand the obligation: $ 6.999.60 is required to be remitted if you net income is $ 64,900.00 or higher.
For others with lower income levels the employer/employee rate will be 5.7% each.

Maximum pensionable earnings for 2022 is $64,900.
No additional premiums are required if income for the calender year is higher then that.

The contribution rate on income after exemption (3,500) is 5.7% for each the employer and employee. Self employed the rate is 5.7% x 2 = 11.4%.

If you are planning on having maximum earnings in 2022 then you will need to save $ 583.30\mth to meet your CPP obligation.

Address

867 Main Street
Hampton, NB
E5N6E4

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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