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Nguyen Scott LLP

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Saint Albert, AB
Nguyen Scott LLP

Chartered Professional Accountant, Chartered Accountant We have three convenient Alberta locations to better serve your needs in St.

Nguyen Scott LLP is a Chartered Professional Accounting firm and has been locally-owned and operated for over 24 years. We serve small and medium-sized businesses, covering a wide range of industries and professions, including: financial services, medical practices, retail, construction, transportation, real estate, oil and gas-related services, farming, and not-for-profit and charitable organizations. Albert, Leduc, Edmonton and surrounding areas, and Drayton Valley.

07/20/2026

The CRA requires individuals to pay tax in quarterly instalments when net tax owing exceeds $3,000 for the current year and in either of the two preceding years.

"Net tax owing" is your total tax minus amounts withheld at source — so employment income with proper deductions typically doesn't trigger instalments, but self-employment income, rental income, and investment income often do. Late or insufficient instalments trigger compound daily interest, and if instalment interest exceeds $1,000 for the year, a 50% penalty on the excess may also apply.

There are three calculation methods: prior-year, current-year, and the CRA's no-calculation option. The right method depends on how your income compares to prior years — using the wrong one can mean overpaying throughout the year or owing interest.

Your CPA should review instalment obligations annually. Book your free 30-minute consultation with Nguyen Scott LLP.
📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/17/2026

Retail is one of the most operationally complex categories from an accounting perspective — and the gaps that appear consistently in retail financial records are also the ones that quietly erode profitability.
The most common issues: inventory accounting that's done under pressure at year-end rather than tracked accurately throughout the year, producing cost-of-goods-sold figures that are approximations rather than actuals. POS data that's never properly reconciled to the accounting records, creating GST discrepancies and a financial picture that lags reality by weeks.

Inaccurate inventory flows into your financial statements, affects the tax return, and masks performance problems that — identified earlier — could have been corrected. For retailers with thin margins, this isn't a minor administrative issue. It's a structural one.

Book your free 30-minute consultation with Nguyen Scott LLP and let's look at what your numbers are actually telling you.

📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/16/2026

The most important message: the longer you wait, the more expensive the problem becomes. File as soon as possible.

If you had a balance owing and missed the April 30th deadline (or June 15th for self-employed individuals — though any balance is still due April 30th), the CRA applies a 5% late-filing penalty on the balance, plus 1% per complete month to 12 months. Repeat late filers face 10% plus 2% per month to 20 months. Interest compounds daily from May 1st.

If you were owed a refund and simply didn't file, there's no penalty — but no refund either until you file.
For multiple unfiled years, the Voluntary Disclosures Program (VDP) may be available to reduce penalties in certain circumstances. A CPA experienced with CRA processes navigates this correctly.

Nguyen Scott LLP serves clients across Edmonton, St. Albert, Leduc, and Drayton Valley. Book your free 30-minute consultation today.

📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/15/2026

Taxes don't have to be stressful. Whether your tax situation is simple or more complex, working with a Chartered Professional Accountant can help ensure your return is accurate while identifying deductions and credits you may have overlooked. Every financial situation is unique, and personalized advice can make a meaningful difference.

At Nguyen Scott LLP, we help individuals and families navigate the ever-changing Canadian tax system with confidence. From employment income and investments to rental properties, self-employment, and retirement planning, our team is here to answer your questions and help you make informed decisions.

Our goal is more than simply filing your tax return. We want to help you minimize taxes, avoid costly mistakes, and create strategies that benefit your financial future. We proudly serve clients throughout St. Albert, Edmonton, Leduc, Drayton Valley, and surrounding communities.

Book your complimentary 30-minute consultation today by visiting https://nsllp.ca/contact-us/. Follow our page for practical accounting and tax tips throughout the year.

07/14/2026

Running a business in Drayton Valley — whether in oil and gas services, construction, agriculture, or retail — comes with tax challenges that are best handled by a CPA who understands the local economy.

For oil and gas service operators: income volatility requiring careful instalment planning, equipment CCA optimization, GST on service contracts, and the incorporation question are all areas where specialized expertise matters. For construction and trades businesses working across the region, subcontractor documentation, vehicle expenses, and equipment management require the same attention.

Nguyen Scott LLP's Drayton Valley office delivers the same CPA quality available at our St. Albert and Leduc locations — by professionals who know your name, know your business, and are available when you need them.

Book your free 30-minute consultation today.
📞 Drayton Valley: 780-542-9292 | Toll Free: 1-800-323-9887
📍 5610 – 50 Ave, Drayton Valley | 👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/13/2026

This is one of the most consequential ongoing decisions for any incorporated Alberta business owner — and the right answer changes year to year.

Salary is deductible to the corporation. On the personal side, it creates RRSP contribution room (18% of prior year earned income, subject to annual limits), triggers CPP (both employee and employer portions), and is fully taxed at marginal rates. Dividends are paid from after-tax corporate earnings — the dividend tax credit reduces personal tax, no CPP applies, and no RRSP room is created.

Neither is universally superior. The optimal compensation strategy for most incorporated owners involves some combination of both, calibrated annually to specific targets — accounting for income levels, RRSP capacity, family situation, and corporate earnings.

This is a calculation your CPA should run for your specific numbers every year. Book your free 30-minute consultation with Nguyen Scott LLP.

📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/10/2026

Estate planning is something most Alberta business owners acknowledge is important — and consistently defer. The cost of that deferral falls on the people you care about most.
The deemed disposition rule treats most capital property as sold at fair market value immediately before death — potentially triggering a substantial capital gain on the terminal return. For a business owner with shares in a private corporation or significant real estate, this can mean a tax liability of hundreds of thousands of dollars before beneficiaries receive anything.

Strategies including spousal rollovers, the Lifetime Capital Gains Exemption on qualifying small business shares, estate freezes, and trust structures can dramatically reduce this exposure — but they require lead time to implement properly.

The estate planning conversation isn't only for seniors or the very wealthy. Business owners at any stage benefit from understanding their exposure. Book your free 30-minute consultation with Nguyen Scott LLP.

📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/09/2026

Incorporation is one of the most consequential decisions an Alberta business owner makes — and it's rarely as simple as "yes, do it."

The real advantages: active business income taxed at 11% combined federal and Alberta provincial (9% + 2%) on the first $500,000, versus a top combined personal rate of approximately 48% in Alberta. Limited liability protection. The ability to defer income by leaving money in the corporation.

The real costs: a separate T2 return annually, a corporate minute book, separate banking and bookkeeping, ongoing compliance. These costs are real and ongoing. The tax advantage becomes compelling when you're generating net income beyond your personal living needs — money you can shelter at the corporate rate.

The conversation with a CPA is the most valuable hour you'll spend this year if you're approaching that threshold. Book your free 30-minute consultation with Nguyen Scott LLP.

📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

07/08/2026

You just paid a massive personal tax bill. Your neighbour who incorporated paid 11%. Here's what you need to know.

Tax season just ended — and if you're a sole proprietor in Edmonton or St. Albert, you may have just handed the CRA far more than you needed to. For incorporated Alberta small businesses, the combined federal and provincial tax rate on active business income up to $500,000 is approximately 11%. As a sole proprietor, that same income is taxed at your personal marginal rate — which can be two, three, or even four times higher. That gap is called tax deferral. And it's not a loophole. It's built directly into the Canadian tax system to support small business growth. But incorporation isn't right for every business at every stage. The decision depends on your income level, how much you need to draw personally, your liability exposure, and your long-term goals.

Our latest blog post walks you through exactly when it makes sense — and when it doesn't. We've helped hundreds of Edmonton-area business owners make this decision confidently. We can help you too.
📖 Read the full guide: https://nsllp.ca/should-i-incorporate-my-business-in-alberta-a-plain-english-guide-for-edmonton-entrepreneurs/

📞 Book your free 30-minute consultation: nsllp.ca/contact-us/
No obligation. No pressure. Just straight answers from local CPAs who know Alberta tax.

07/07/2026

By November, many of the strategies that could have reduced your tax position are no longer available — because they require time to implement properly.

Mid-year planning conversations at Nguyen Scott LLP typically cover: year-to-date income vs. projections, whether to accelerate deductions or defer income, compensation strategy for owner-managers, capital expenditure timing, and any corporate restructuring that needs to happen before year-end.

For business owners, the interaction between corporate and personal tax planning is significant — changes at the corporate level directly affect RRSP room, CPP obligations, and family tax position. A CPA advising on both simultaneously produces better outcomes than siloed advice.

June is the right time for this conversation. Not October. Book your free 30-minute mid-year planning consultation with Nguyen Scott LLP today.

📞 780-458-5479 | St. Albert | Leduc | Drayton Valley
👉 https://nsllp.ca/contact-us/ | 🌐 https://nsllp.ca/

Address

203, 12 Perron Street
Saint Albert, AB
T8N1E4

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 4pm

Website

http://nsllp.ca/

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