Lotus Accounting Firm
3300 McNicoll Ave M1V 5J6 Toronto, ON, Canada

May your Easter basket be full of Joy, Happiness & Peace today and always! Happy Easter!! . Stay healthy and Safe. #happyeaster #taxaccountant

Did you know? You are eligible to claim a TAX deduction for home office expenses for the period you worked from home due to Covid-19. > Did you work more than 50% of the time from home for a minimum four consecutive weeks in 2020? > Did you complete and signed Form T2200S or Form T2200 for your employer?... Does all this sounds bit complicated?... YES this year's tax return could be challenging! if you are not confident with your current tax filing... DO NOT Worry! Contact us and file this year's tax with confidence from the comfort of your home with few clicks! #workfromhome #workfromhometaxclaim #workfromhometaxbenefits #professionaltaxpreparer #taxaccountantnearme

FILING THIS YEAR TAX RETURN IS MORE COMPLICATED ..due to COVID -19 Benefits and work from home expenses . WHY TAKE THE CHANCES ON YOUR TAXES? Hire a tax pro and enjoy all the benefits. #taxprofessional #workfromhometaxclaim #taxseason

We are looking for a team player with an enthusiastic and personable attitude. As our General Accountant you will be responsible for all aspects of our daily accounting functions, maintaining financial records and completing bank reconciliations. To be successful in this role, you must be able to multi-task and adapt to the ever-changing demands of the role. Hours/Shift: Monday to Friday 8:30am to 5:00pm... Duties / Responsibilities: Prepare, verify, and process invoices for sales, as well as assist with collections Review weekly billing and payroll entries and prepare weekly profitability analysis for all entities and prepare Operations meeting reporting Prepare government filings, such as, HST, PST, QST, WSIB, EHT, T4 filing Prepare payroll, including verifying and validating time sheets for employees and subcontractors Posting and processing journal entries to ensure all business transactions are recorded Liaise with Revenue Canada and other regulatory bodies Ensure all accruals and intercompany are posted by monthly as well as annually Bank and balance sheet reconciliations and implement process improvement Balance all regulatory payable accounts with payments in a periodic manner (Payroll deductions, Workers’ compensations and other payments) Accounts payable - invoice booking, reviewing and remittance with approval (Payment clearing must be done by the payroll person) Manage both payroll and accounting related journals, reports and other related documents for audit purpose (Payroll clearing must be reviewed and maintain SOD) Support external accountant for NTR, Review engagement or other external audits Assist with payroll if needed and review and sign off all payroll entries ad hoc management projects and other assigned duties Qualifications / Requirements: Minimum of 2- 3 years of previous experience in a similar role including full cycle accounting Proficiency in SAGE accounting software, QuickBooks and advanced excel skills. Ability to multi-task, stay organized, and you have strong attention to detail Preference will be given to candidates with a degree in business or enrolled in Professional Accounting designation (CPA) along with knowledge of GAAP and current accounting rules and regulations Job Types: Full-time, Permanent

Today we are proposing to extend and expand the Canada Emergency Wage Subsidy. With these changes, more workers and employers will get the support they need through the Fall. https://www.canada.ca//supporting-canadian-workers-and-bus

Canada Day is the day we all think about how far we've come. Congratulations to you, Canada! And a very happy Canada Day to one and all! #happycanadaday #canadaday #proudcanadian #accounting #incometax #Bookkeping #Accounting&Taxes #CPA #Taxservices #Taxaccountant #lotusaccounting #canadaday2020 #canadaday2020

Wishing all those who are celebrating Ramadan festival . Happy Eid Mubarak . #ramadan #eidmubarak #taxprofessional #taxaccountant

GOVERNMENT EXPANDS CRITERIA OF $40,000 SMALL BUSINESS CEBA LOAN PROGRAM. To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 would need:... a business operating account at a participating financial institution a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return. eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. More details coming soon.. **Expenses will be subject to verification and audit by the Government of Canada. #ceba #smallbusinessowner #smallbusiness #helpfromgovernment #covid19 #taxprofessional #businesstaxexperts #smallbusinesstaxspecialist #smallbusinesscanada #smallbusinesstaxtips

11th Year Remembrance of Genocide of the Tamils .The total number of Tamil civilians killed during the final months is widely contested. After providing an initial death toll of 40,000, the UN found evidence suggesting that 70,000 were killed. Local census records indicate that at least 146,679 people are unaccounted for and presumed to have been killed during the Sri Lankan military offensive. #tamilgenocide#may19 #whereisjustice #weneedjustice

Emergency COVID-19 wage subsidy program extended to end of August. ... The government's emergency wage-subsidy program will be extended to the end of August to help employers keep their workers on the payroll during the pandemic. Companies that saw their revenues drop by 15 per cent in March or 30 per cent in April and May are eligible for the program but Trudeau hinted changes could be coming to that threshold. https://www.cbc.ca//politics/wage-subsidy-covid-extension- #covid_19 #cews #canadapm #taxprofessional #incometax #payrollprocessing #onlinetaxpreparation #virtualtaxpreparation #taxaccountant #smallbusiness

Students can apply for emergency benefit on Friday: PM Applications for the Canada Emergency Student Benefit will open this Friday, May 15th. The CESB will provide $1,250 / month for eligible students or $2,000 / month for eligible students with dependents or disabilities. To access the benefit, students will be required to sign up for My Account on the Canada Revenue Agency website:... Please see below for who is Eligible https://www.grantthornton.ca//co/gt-20-154-cesb-051220.pdf #students #onlinetaxpreparation #taxprofessional #covid_19 #canadapm #cesb

Federal government announces up to $500 in aid for seniors struggling because of COVID-19 The federal government announced a one-time payment of up to $500 to help seniors struggling financially because of COVID-19 Seniors who qualify for Old Age Security (OAS) will be eligible for a one-time, tax-free payment of $300, and those eligible for the Guaranteed Income Supplement (GIS) will get an extra $200.... Those eligible for both will receive $500. https://www.cbc.ca//pol/seniors-supports-covid19-1.5565743 #covid_19 #canadapm #seniorsbenefits #taxprofessional #taxprep #virtualtaxpreparer #professionalaccountant #cbc

Did you know? Canadians receiving the CERB and if you still facing unemployment due to COVID-19 must re-apply to continue receiving benefits .Don’t forget to reapply for the May 10 - June 6 CERB period. Eligibility periods are fixed in 4-week periods. If your situation continues, you can re-apply for CERB for an additional 4-week period, to a maximum of 16 weeks (4 periods). With the CERB, you get $2,000 a month for up to four months.#canadacerb #virtualtaxpreparation #covid_19 #taxprofessional #helpfromcanada #cpa #professionalaccountant #taxseason

More Helps for Small Business-Deal reached to lower rent by 75 % for small businesses The businesses eligible for this rent relief are those that have to pay less than $50,000 per month in rent, have had to temporarily cease operations, or have experienced at least a 70 per cent drop in pre-COVID-19 revenues. The program is also being made available to non-profits and charities. Eligible period April ,May and June . More details coming soon Source : https://www.ctvnews.ca//d...eal-reached-to-lower-rent-by-75-p #canadapm #covid_19 #proudtobecanadian #taxseason #taxprofessional #virtualtaxpreparation #smallbusinessowner #smallbusiness #smallbusinesscanada #smallbusinesstaxes #lotusaccounting See more

There are many things you can do to keep yourself, and others safe. We are at a pivotal moment in our fight against #COVID19, and it’s important now more than ever that we keep up the good work and continue to follow the advice of our public health professionals.

New COVID-19 emergency benefit for students - Canada Emergency Student Benefit $1250/ Month Students who have seen their education and job prospects altered during the pandemic will soon be able to claim a new Canada Emergency Student Benefit, Prime Minister Justin Trudeau has announced on April 22,2020. The benefit will see eligible post secondary students receive $1,250 a month from May to August, and if you are taking care of someone else or have a disability, that amou...nt increases to $1,750 monthly. College and university students currently in school, planning to start in September, or who graduated in December 2019 are eligible. As well, working students earning less than $1,000 per month can also apply. Trudeau said the benefit will require additional legislation and talks are now underway about how quickly a bill to implement this new program can be brought forward Source : https://www.ctvnews.ca//pm-trudeau-announces-new-covid-19- #ctvnews #canadapm #covid_19 #canadacovid19 #virtualtaxpreparation #taxprofessional #virtualtaxpreparation #cpa

Did you know you can stay home, stay safe and file your taxes in safest and fastest way? File your Personal and Business Taxes REMOTELY to secure your MAXIMUM REFUND. We Specialize in Individuals, Small & Medium-Size business, real estate tax preparation.... Get your taxes done virtually by a CPA. We provide virtual tax preparation services. It’s time to call Lotus Accounting. We will maximize your TAX REFUND. We Don’t Promise We GUARANTEE! Call us NOW @ 416 -904 2013 Why Choose Lotus Accounting? Lotus Accounting is a Chartered Professional Accounting firm (CPA) Over 10 Years of Experience. Maximum Refund Guarantee Undertake mandatory professional development. Bound by a code of ethics and professional standards Required to have professional indemnity insurance Subject to quality reviews of their professional practice Regulated by their professional body

The Government Allows people to earn up to $1,000 per month while collecting the CERB. To help more Canadians benefit from the CERB, the government will be changing the eligibility rules to: Allow people to earn up to $1,000 per month while collecting the CERB.... Extend the CERB to seasonal workers who have exhausted their EI regular benefits and are unable to undertake their usual seasonal work as a result of the COVID-19 outbreak. Extend the CERB to workers who recently exhausted their EI regular benefits and are unable to find a job or return to work because of COVID-19. See more

Did you know? Canadians receiving the CERB must re-apply to continue receiving benefits Eligibility periods are fixed in 4-week periods. If your situation continues, you can re-apply for CERB for an additional 4-week period, to a maximum of 16 weeks (4 periods). With the CERB, you get $2,000 a month for up to four months.

Canada Emergency Business Account (CEBA)- New Update April 16-2020 The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits. To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. Now (As of April 16), companies who paid between $20,000 and $1,500,000 in total payroll in 2019 will be eligible to receive a loan.... Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000). #canada #businessloan #covid_19 #ceba #taxprofessional #corporatetax #businesstax #virtualtaxpreparation #smallbusiness #canadapm

WORRIED WITH YOUR TAX FILING DUE TO COIVD 19? DON’T WORRY. Get your taxes done virtually by a CPA .We provide virtual tax preparation services. You can stay home, stay safe and file your taxes in safest and fastest way. ... We will maximize your TAX REFUND. We Don’t Promise We GUARANTEE! Call us NOW @ 416 -904 2013

To help more Canadians benefit from the CERB, the government will be changing the eligibility rules to: Allow people to earn up to $1,000 per month while collecting the CERB. Extend the CERB to seasonal workers who have exhausted their EI regular benefits and are unable to undertake their usual seasonal work as a result of the COVID-19 outbreak. Extend the CERB to workers who recently exhausted their EI regular benefits and are unable to find a job or return to work because of COVID-19. #CERB #canadianpm #helpfromcanada #taxseason #morehelp #stayhome #virtualtaxpreparation #onlinetaxpreparation #virtualtaxpreparer