Charterhouse Bookkeeping Services

01/07/2021

We know first hand how confusing it can be having a financial team spread out through various locations, a bookkeeper, an accountant, and a financial planner, all in different cities. It can often become overwhelming as your business grows to stay in contact with all members of your financial team. This is why we have all of these specialists, ready to help and under one roof! Our goal at Charterhouse Bookkeeping and Sutherland and Company is to provide you with a ‘one stop shop’ as far as this team is concerned, ensuring you reach your business's full potential effortlessly. Click the link to learn more, contact us for more information via phone at 905-723-9400 or send us an email to [email protected]

We know first hand how confusing it can be having a financial team spread out through various locations, a bookkeeper, an accountant, and a financial planner, all in different cities. It can often become overwhelming as ...

01/04/2021

Doing your own bookkeeping can be efficient when you are first starting out, but as your business grows it can become overwhelming trying to stay organized.
When is it time to bring a bookkeeper onboard? Find out on our recent blog post! https://charterhousebookkeeping.ca/blog/f/why-does-your-business-need-a-bookkeeper

12/17/2020

The holidays are going to be very different this year, but that doesn't mean you and the kids have to miss out on all of the fun (and safe) festivities! From drive by Christmas lights to zoom calls with Santa, check out this extensive list of safe activities to attend with your loved ones this holiday season! https://www.thisisdurham.com/whats-on/family-events/christmas-events

12/15/2020

Find out how employees working from home can collect 400$ on their returns this tax season, no questions asked!

Have you worked from home this year due to COVID-19? You may be eligible for a tax credit up to $400. The details still need to be ironed out, but the federal government acknowledged the credit in its Fall Economic State...

11/24/2020

Are you a small business owner in charge of your own bookkeeping? Find out how hiring a bookkeeper can save you time and money here! https://charterhousebookkeeping.ca/blog/f/why-does-your-business-need-a-bookkeeper

11/18/2020

The CRA is offering parents a tax-free monthly payment made to help with the cost of raising children under 18 years of age. For more information please visit the attached website; https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview.html

11/09/2020

The CRA has made announcements about the nation’s retirement programs. Namely, the Canada Pension Plan and the Registered Retirement Savings Plan are being updated as we enter the new year. For more information please visit the website linked below; https://www.fool.ca/2020/11/08/cra-big-changes-for-rrsp-and-cpp-in-2021/

11/07/2020

In a stunning reversal of fortune, the Toronto Star Reports General Motors Corporation plans on reopening its Oshawa assembly plant, 11 months after it was idled. The deal, if approved will rehire hundreds of laid off workers, and create thousands of jobs by the time vehicle production restarts in 2022. For more information, click the link bellow to view the full article; https://www.thestar.com/business/2020/11/05/unifor-extends-contract-talks-with-general-motors-past-strike-deadline.html?rf

11/06/2020

Ontario’s Progressive Conservative government presented their first pandemic-era budget Thursday. The budget includes a new tax credit to help seniors live in their homes longer by reimbursing them 25 per cent on eligible renovations of up to $10,000, support to parents with the added costs of at-home education, providing an additional $200 per child under 12 and $250 per child or youth with special needs. For more information, click the link below to view the full article; https://www.thestar.com/business/2020/11/05/highlights-from-the-ontario-budget-unveiled-thursday.html

11/03/2020

Are your CERB payments safe from wage garnishment? Find out here; https://charterhousebookkeeping.ca/blog/f/is-your-cerb-safe-from-wage-garnishment
Have any questions? Please contact us by email at [email protected] or call us at (905) 723-9400.

The Canadian government has created the COVID-19 Emergency Response Act in response to the COVID-19 global crisis. Under this Act, workers all across Canada who have lost their income from the COVID-19 pandemic will rece...

10/30/2020

Happy Friday everyone!

We hope you are well and keeping safe!

We have recently updated our website to include a blog providing you with all of the most current information that you are looking for, from CERB updates, to CEWS information, financial help and much more.

Please feel free to check us out using the link below:
https://charterhousebookkeeping.ca/

Happy Halloween from all of us here at Charterhouse Bookkeeping!

Have a great weekend!

10/29/2020

The standard age to take your CPP benefits is at 65, though we generally recommend waiting until 70 depending on your personal situation.
-If people in your family generally live past age 90 and you are in good health, it may make sense to delay CPP to age 70 to receive more benefits and minimize your longevity risk.
-If you are still employed after age 65, CPP contributions become optional. However, CPP benefits are included in your taxable income and thus increase your taxes. If you don’t need the extra income, deferring CPP income could result in tax savings!
- If you can live on your OAS/GIS benefits with income from your TFSA and non-registered investments, you could defer CPP until later while enjoying up to $10,996.56 in GIS money per year.
-If you take it out at 60, you forfeit 7.2% each year you receive it prior to age 65. That increases to a loss of 8.4% per year from 65 to age 70!
-Essentially, you'll get up to 36 percent less CPP if you take it at age 60 rather than waiting until age 65, and up to 42% less taking it at 65 than if you had waited until 70.
Please contact us with any questions or concerns regarding your retirement plan at [email protected] or 905-723-9400.