Monthly Archives: December 2012

Happy Holidays from the Team at Five Star Accounting!

The end of 2012 is almost upon us and the team at Five Star Accounting would like to wish you a Happy Holiday season! It has been a record year for us here at Five Star Accounting.  We’ve experienced tremendous growth in all aspects of our company.  We’ve been introduced to new industries through new clients, implemented new processes and rolled out new services to our customers.   We recognize that we would not have achieved these accomplishments without you – our valued customers.

If you know a frustrated entrepreneur that can benefit from some assistance with their day-to-day bookkeeping and accounting, let them know we can help.  Our Client Referral Program makes it easy for you to make referrals.  Help them make a fresh start as 2013 approaches and benefit from a $150 reduction on your next month’s invoice or receive a $150 gift card to any restaurant of your choice in the city.

Thank you for your continued support throughout the years and for being with us on this journey.  To our clients old and new, we look forward to being there for you in 2013.  Happy Holidays and have a safe and merry holiday season!

Five Star Holiday Hours

The Five Star Accounting Team wishes all of our current and future clients a peaceful and happy holiday season. Please note that our operating hours during the holidays are:

Dec 24th   8:00 am to 1:00 pm
Dec 25th   Closed
Dec 26th   Closed
Dec 27th    8:00 am to 4:00 pm
Dec 28th    8:00 am to 1:00 pm
Dec 31st    8:00 am to 1:00 pm
Jan 1st       Closed

May 2013 bring your business great prosperity!

Calculating Your Charitable Tax Credits

With the season of giving fast approaching, many of you may be reflecting on this past year and contemplating on what you can do to make a difference to the community that has given you so much.  There are many worthy causes to support and many charities that work hard to improve our communities.  Whatever your passions may be, when you are ready to make that charitable donation, here are a few things to keep in mind.

Donations to registered charities qualify for “Charitable Tax Credits”.   Visit the CRA website to find a list of charitable organizations that are qualified to issue donation receipts.  The first step to calculating your charitable tax credit is to determine the amount of your donation that is eligible for credit.  You can claim amounts of gifts up to 75% of your net income.

There are 2 charitable tax credit rates – one from the federal government and one from the provincial government.  Donations over $200 qualify for a higher tax credit rate.  See this table of charitable donation tax credit rates for the most up to date information from the Canada Revenue Agency.  Official donation receipts from registered charities and qualified recipients should be kept for 5 years and it must be included with your paper tax return if you file your taxes by mail.

Giving back to the community is important, and especially during this holiday season, let’s do our part to help the communities in which we live, and call home.