RLB Blog

Software Advice and VolunteerMatch partnered together to survey 2,735 not-for-profit professionals around the globe. Their objective was to determine how many not-for-profit organizations measure their volunteer’s impact. This “measure of impact” refers to any attempt to quantify how much the work performed by volunteers creates economic or social change. Results found that only about 55% of not-for-profits collect data to measure the impact volunteers have on outcomes. Furthermore, findings also concluded that of the 45% of the organizations that do not collect data, 34% lack the resources and tools to do so. Another finding was increased funding, through either donations or grants, is the key benefit of impact measurement for 17%.

With the newly elected Liberal government Canada’s personal taxation system will be experiencing significant changes.   Provided below is a brief summary of the key changes that all individuals should be aware of and a discussion of how these changes may affect you.

Important Note: This article only applies to charities and qualifying Not-for-Profit organizations which are not HST registrants (i.e. do not have HST-eligible revenues above $50,000 and have not registered to collect HST on their revenues) but receive the Public Service Bodies Rebate on GST/HST paid. If you are uncertain if this applies to your organization, please contact your RLB advisor.

Want to be your own boss? If you are a budding entrepreneur, already own a small business or are looking to purchase a business, this blog post is for you! Even at the earlier stages of your working life, it is important to think about future succession and plan accordingly. By planning up front, you access strategies of tax savings over the life of your business (not just upon retirement). You also benefit from flexibility built into your corporate structure and business goals in order to grow the business while reacting to changes in your needs or goals or in the business environment.

A typical organization experiences five percent loss from revenue each year due to fraud.

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Taxes can be confusing…now add in the complexity of filing a U.S. tax return.  At RLB, our specialized team of accountants in our U.S. tax department often get asked this question.  Here are some questions you should ask yourself to determine whether you may be required to file a U.S. tax return.

The Quick Method is a simplified way to calculate HST for small businesses.  Instead of totalling Input Tax Credits (ITCs) on all expenses and subtracting them from HST collected on sales, the Quick Method allows HST payable to be calculated based on a percentage of sales.