Archive for May, 2009
The Reasons Fraud Spikes in a Recession
As sure as growth slides and employment numbers tumble, so cases of fraud rise during recessions. This time is no different. According to a report out May 20 from the Network, a U.S. firm that runs compliance and corporate-governance hotlines for about half the Fortune 500, fraud-related calls amounted to 21% of all reports in [...]
Read Full Post | Make a Comment ( 1 so far )PROPRIETORS FILING DEADLINE APPROACHES; TAX FRAUD CASES ANNOUNCED
The June 15 Tax Filing Deadline is fast approaching for proprietors. Those who fail to file their 2008 tax returns by midnight June 15 face a late filing penalty as well as interest dating back to May 1. Recently CRA has announced a number of convictions for those who fail to comply with their requirements [...]
Read Full Post | Make a Comment ( None so far )How to Pay an Owner – Manager
Regular salary to an owner-manager is easy for the payroll department to record, but when a payment is made to an owner, a process needs to be in place to ensure proper recording. Identifying the nature of the payment is very important to its proper recording. Communication between ownership/management and the payroll department is necessary [...]
Read Full Post | Make a Comment ( None so far )Home Renovation Tax Credit
We were recently contacted with further information to provide homeowners with facts about the 2009 Home Renovation Tax Credit. Great timing since there have been many interesting questions about what projects, materials, or labour are applicable for this credit. To view the webpages, visit: http://www.cra-arc.gc.ca/hrtc/ Below, is the FAQ page content, which hopefully will answer [...]
Read Full Post | Make a Comment ( None so far )Navigating Government And Nonprofit Financial Statements
While many investors have at least some understanding of typical financial statements like the balance sheet, income statement and cash flow statement, governmental and non-profit financial statements may be significantly less familiar. But they shouldn’t be. Governments and nonprofits take our tax and contribution money to provide valuable services – shouldn’t we be making sure that [...]
Read Full Post | Make a Comment ( None so far )Scam sites increasingly masquerading as Facebook, MySpace
Cybercriminals are tapping into the popularity of social networking to more effectively craft their scams. Increasingly, scam sites have domains that include the names Facebook, MySpace and Twitter, with no connection to the real sites. By using this tactic, called “domain-name cloning,” cybercriminals are making their scam sites appear to be affiliated with these popular [...]
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