Prince Accounting PC
5020 50a St #102 T4S 1R2 Sylvan Lake, AB, Canada

Locked down due to the Coronavirus? Looking to have your personal taxes filed so you can get that tax refund? We have the technology in place where you can submit your tax records and electronically approve the filing of your tax return from your phone. It's so easy even your kids can do it...... Contact us at 403-506-6907 to get started!

Hey everyone! In regard to the noval coronavirus COVID-19, Prince Accounting is strongly encouraging all individuals to submit your tax records electronically for the current tax season. The best way to do so is by contacting our office and registering for "Portal". With portal you will be able to upload documents of all types and sizes and we will receive an email notification once any files have been uploaded.... To do so please contact our office at 403-506-6907 or we can be reached at [email protected]. Please note in order to register we will require a valid email address. Additionally for any clients in which we offer financial reporting or bookkeeping services for, we are strongly encouraging that out clients contact our office to become set up on "Receipt Bank". Receipt bank is an app that be can accessed on your phone or computer to help you submit invoices, receipts and bank statements electronically. Furthermore we are requesting that if you are presenting any signs of illness, we would ask that you refrain from coming into our office and instead consider using electronic means to submit your records in order to protect the health of everyone. Please consult Alberta Health Services website for additional information related to COVID-19. https://www.albertahealthservices.ca/topics/Page16944.aspx

April is quickly approaching which means there is just over a month left to file your personal taxes! Running out of time or would like to take the stress out of filing taxes on your own give us a call at 403-506-6907!

Have you ever heard of the Cashflow quadrant before?In a fairly simplistic way it explains the four cashflow streams individuals can earn and how each of us can strive to generate more wealth. Long story short we want to earn as much possible income from the bottom right quadrant (Investment or Passive income). Below is a brief summary of the cashflow quadrant and the characteristics of each quadrant! Left Side (Time in exchange for money) Employees (Top Left) - This is whe...re most of us start and many us stay for a large portion of career. This quadrant is great for those who would like job security and a steady paycheque, however we simply exchange our time for money. Self-Employed - (Botton Left) - This is very common quadrant for many realtors, oilfield consultants, etc. You sacrifice job security for more flexibility and hopefully a higher paycheque. However most in this category still exchange time for money. Right Side (How to generate real wealth) Business (Top Right) - This is where individuals no longer trade their own time for money. Instead they begin to hire employees and they build processes to replicate themselves and earn a profit in exchange for providing employees job security and a steady paycheque. Overall the business owner is still active in the business but can earn greater profits than if they simply worked for themselves. Investment (Bottom right) - This is where we all strive to be and THIS IS HOW WE RETIRE. Investment income is where you have to have little to no involvement on daily basis but you reap a return for assets you have invested. A great example of this would be income earned from leasing out real estate or income earned from shares held in places such as the stock market. Overall passive income is infinitely scalable as this income streams requires little to no time from yourself.

We are excited to debut the launch of our new website! Take a look and let us know what you think! www.princeaccounting.ca