If you’re a Canadian post-secondary student, you’ve likely wondered what a tuition tax credit is and how to use it. Or, maybe you’ve looked on your CRA account and wondered what those carried over amounts are for. Understanding tuition tax…
Collecting rental income on a property is a fantastic way to help with mortgage costs and pay off an investment property. Rental income, though not associated with a paycheck, still needs to be reported alongside your income taxes. Not reporting…
Understanding real estate accounting can be a difficult process. In order to increase your revenue and improve your real estate business, you will need to understand what to track and how to keep your bookkeeping in order. As a property…
Accounting for business varies depending on the industry, and accounting for construction companies can be incredibly challenging and different from other industries. We’ve put together some of the basics for construction accounting to help construction professionals understand what makes their…
The season for personal taxes is over, but that doesn’t mean taxes have completely left your thoughts. If you tend to pay taxes rather than receive a return, May often signifies the beginning of saving for next year’s tax filing….
How much accounting should cost a small business depends on a number of factors. If you’re looking for the costs of accounting for your small business, you want to ensure that you’re considering all the items that influence the cost…
Gallo LLP is hosting a contest this month! The contest is simple, film your kids as you ask the question, “what do you think an accountant does?”, and see what their answers are! The winning video will receive a…
As your tax receipts and T4s start rolling into your inbox, you may be wondering when personal taxes are due in Canada. No one wants to be late getting their taxes filed, especially if you’ll need to pay rather than…
Our firm is excited to announce that as of January 1st, 2021, Gallo and Company has become a registered Limited Liability Partnership (LLP), as allowed by legislation by the Government of Alberta. We will now be known as Gallo LLP….
If you’re a medical specialist, you may be seeking tax tips for doctors. Finding tax tips for doctors that will save you money can be a difficult task. Doctors have various financial opportunities and additional responsibilities relating to their personal…