The Current Bookkeeping News

BOOKKEEPER'S HANDY REFERENCE

by L. Kenway BComm CPB


I know you are busy and don't have time to wade through governmental websites to keep up-to-date with current bookkeeping news that may affect your business.

I cover five different news area to help you save time and keep you current or assist with your backwork.

Overviews of what is found in each area are below ...


Prescribed Interest Rates

Oct 1 to Dec 31, 2016 (Jul 1 to Sep 30, 2016)

CRA

5% (5%) -- Overdue taxes

3% (3%) -- Tax refunds non-corporate

1% (1) -- Tax refunds corporate

1% (1%) -- Taxable benefits

4.49% (4.50%) -- Corporate taxpayer loans

IRS

4% (4%) -- Over payment non-corporate

3% (3%) -- Over payment corporate

4% (4%) -- Under payment taxes

0.56% (0.64%) --  Shareholder loans ST*

1.18% (1.41%) --  Shareholder loans MT*
1.90% (2.24%) --  Shareholder loans LT*

* Aug, 2016 (Jun, 2016)



THE SMALL eBIZ NEWS

You'll find links and news essential for ... the hard working ... self-employed ... small business owner acting in the role of bookkeeper.

Bookkeeping news for the self employed business owner in US and Canada.

If you want to lift your nose out of the books and get your mind off bookkeeping for a few minutes, you'll also find enjoyable "Teabreaks" scattered throughout the "News".

Here is where I post small business bookkeeper news from governmental agencies other than CRA or IRS like:

  • the BC Ministry of Finance
  • Canadian Department of Finance
  • the U.S. Department of Labor
  • Prescribed Interest Rates
  • market watch links
  • and more ...

Go to The Small eBiz News.


THE IRS NEWS

On this page you'll find the latest IRS News and essential small business information relevant to ... the hard working ... self-employed ... U.S. business owner who does their own bookkeeping.

It covers things like:

IRS News for the self-employed business owner
  • COLA
  • Social Security Wage Base
  • Simplified Per Diem Rates
  • CONUS Rates
  • Standard Mileage Rates
  • Depreciation Limits for Vehicles
  • Maximum Values for Employer Provided Vehicles

Go to the IRS News.


THE CRA NEWS
 

You'll find the latest CRA News relevant to ... the hard working ... self-employed ... Canadian business owner who does their own bookkeeping.

It covers things like:

CRA News for the self employed business owner
  • Automobile Deduction Limits and Taxable Benefit Rates
  • CPP Maximum Pensionable Earnings
  • EI Premium Rates
  • Discontinuation Notices of Services and Forms
  • Release of Payroll Tables and Formulas
  • Annual Letter Campaign to Sole Proprietors
  • and more ...

Go to the CRA News.


THE PST NEWS

B.C. PST news for the self employed business owner.

Are you a bookkeeper doing backwork?  This is a handy reference for the transitioning rules.

You'll find overviews of government announcements, accounting newsletter recommendations and newspaper opinions leading up to the return of PST in BC on April 1, 2013.

There is also an index to other pages on PST.

Go to PST News.


THE HST NEWS

BC HST transitional rules for bookkeepers doing backwork.

You'll find overviews of the government announcements in the year leading up to the implementation of HST for BC and Ontario on July 1, 2010.

This is a great reference for bookkeepers doing backwork as it captures all the transitional rules.

One thing to remember about BC HST is that BC went back to GST + PST on April 1, 2013.

Go to HST News.


See you on the next page ...
Your tutor Lake

Current Bookkeeping News Index

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