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Monday 9am - 4pm Tuesday 9am - 4pm Wednesday 9am - 4pm Thursday 9am - 4pm Friday 9am - 4pm

Petersen Accounting Services

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Canada
Medicine Hat, AB
Petersen Accounting Services

Petersen Accounting Services, offers their clients full service accounting.

05/06/2026

Tax season may be over, but the impact of your generosity is just beginning! 📉✨ We are thrilled to announce that our fundraiser for the Root Cellar Food and Wellness Hub was a huge success.

Total Raised: $1,020.00 💰

Total Food Donated: 100+ lbs 🥫

Draw Winner: Congratulations on your $500 prize!

Thank you, Medicine Hat, for always showing up for your neighbors

01/23/2026

Do you have employees? Read this. ⚠️

Attention Business Owners: The deadline to file your T4 Summary and Slips is March 2nd. The CRA penalties for late filing are steep and based on the number of employees you have. If you haven't started reconciling your payroll for 2025 yet, please get your info to us by next week so we can ensure you file on time!

01/21/2026

It's just a hobby"... or is it? 🎨

Sell on Etsy? Drive for Skip? Rent a room on Airbnb? To the CRA, that 'side hustle' is a business. That means you need to report the income, but it also means you can claim expenses like:

1. A portion of your cell phone.

2. Vehicle mileage.

3. Supplies and advertising. Don't leave deductions on the table because you didn't think of yourself as a 'business'.

01/19/2026

Did you travel for medical reasons in 2025? 🚗

Living in Medicine Hat often means driving to Calgary or Lethbridge for specialists. Did you know that if you travel more than 40km one way for medical services not available locally, you may be able to claim mileage? If it’s over 80km, you might be able to claim meals and parking too. The Catch: You need a log of the dates and the medical appointments. Dig out your calendar and start listing them now!

01/16/2026

Working from home? The rules have changed. 🏠

Still hoping to claim the $2/day 'flat rate' for working from home? Bad news: That temporary COVID method is gone. Good news: You can still claim home office expenses, but you must use the Detailed Method. This means you need:

1. A signed T2200 form from your employer.

2. To keep receipts for utilities/rent.

3. An accurate measurement of your workspace. Don't guess on this one—let us help you do the math!

01/14/2026

Eager to file? You might want to wait. 🛑

We love the enthusiasm of clients who want to file as early as possible! But remember: Employers and financial institutions have until March 2nd to issue your T4s, T5s, and T3s. If you file now and a slip arrives later, we have to file an amendment. That often pauses your refund for weeks (or months). Pro Tip: Use this time to organize receipts, but hold off on filing until you are 100% sure you have every slip.

01/12/2026

Organization Tip:

Stop throwing receipts in a drawer! Grab a large envelope today and label it '2025 Taxes.' Put every T-slip and donation receipt in there the moment it arrives in the mail. Future You will thank Present You!

01/09/2026

When was the last time you logged into the CRA?

Pop Quiz: Do you know your CRA My Account password? 🤔 Many people wait until April to log in, only to find they’re locked out or need a new code mailed to them (which takes 10 days!). Task for today: Log in to your CRA account just to make sure you can. While you're there, check your RRSP deduction limit and TFSA contribution room. It’s the best way to start your tax planning.

01/02/2026

We hope everyone enjoyed a wonderful holiday season and a relaxing start to 2026!

The team at Petersen Accounting Services will be back in the office and energized for the new year on Monday, January 5th. Whether you need help with 2025 tax prep planning, or simply getting your new year's budget organized, we're ready to dive in.

Let's make this your most financially successful year yet!

01/01/2026

Happy New Year from Petersen Accounting Services!
The books are closed on 2025, and we're officially ready for a prosperous 2026! 🎉

May your New Year be filled with growth, success, and joyful returns. We're here to help you make this your best financial year yet.

Cheers to a fantastic 2026!

Address

6 3rd Street NW
Medicine Hat, AB
T1A6K3

Opening Hours

Monday	9am - 4pm
Tuesday	9am - 4pm
Wednesday	9am - 4pm
Thursday	9am - 4pm
Friday	9am - 4pm

Website

http://petersenaccountingservices.ca/

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