Archive for September, 2006

Prepaid Property Taxes: T.I.P.P. and Journal Entries

T.I.P.P. = Tax Instalment Payment Plan

Generally here in our province, your property taxes are probably either due June 30th or October 31st .. depending if you live in the city or in the rural country. The city or municipality often offers you the option to pay your property taxes on a monthly basis, usually by automatic withdrawal from your bank account on the first of each month. The property taxes (and business taxes) run for the calendar year .. and generally are precalculated as a fixed amount until the new taxes for the current year become in effect. Then, the payment would be altered slightly and be adjusted if necessary.

For accounting purposes, generally speaking, if your fiscal year end is December 31st .. then at the year end date there should be no prepaid business or property taxes on your balance sheet.

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Canada’s New Government cuts wasteful programs, refocuses spending on priorities, achieves major debt reduction as promised

From:
Subject: New Finance Canada document notification
Date: Mon, 25 Sep 2006 16:42:50 -0400

The Honourable Jim Flaherty, Minister of Finance and the Honourable John Baird, President of the Treasury Board, today announced that Canada’s New Government has eliminated wasteful and ineffective programs, reduced government spending and paid down the national debt.

“We are trimming the fat and refocusing spending on the priorities of Canadians,” said Minister Baird. “Our government is also keeping its promise to families and taxpayers by reducing the national debt.”

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Powerpoint Added 2006-09-25

I’ve added another .pps to my Powerpoint entry .. HERE

In case you are lazy and just want to see it from this post (although there are a lot of neat powerpoint slideshows on the above post) .. here it is…

2005 Stella Awards

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Monthly Accounting: The Balance Sheet Approach

When I am preparing monthly financial statements, I often ask myself and my client the following question ..

How Accurate Do You Really Need Your Monthly Financial Statements To Be?

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Mini-1800-HART Poll #1

I'm just curious .. that's all

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