Debbie Sitzer Professional Corporation

Chartered Professional Accountant, Chartered Accountant

News

Recommended Links

Recommended Articles

Budgeting Doesn't Have to be a Time Consuming Process

Budget is a Four-Letter Word

For many of us, Budget Day can be as stomach-churning as a root canal. It's the day we set aside to pour over the month's crumpled and fading receipts, marvel at how our hard-earned cash has once again leaked through our fingers, and try our best to 'balance the books' without losing our cool. Sound familiar? It doesn't have to be that way. Our grandparents and even our parents had nothing but good, ol’ fashioned physical cash, and for them, dividing physical money into labeled jars made the most sense. These days, most transactions are electronic, and jars impractical. For many of us, losing the bucket meant losing the handle on our budgets. We need to find a way to make intangible cash tangible again. 

Want to read more?  To receive our FREE Budgeting article in .PDF format, click subscribe to Debbie's Newsletter now!

Wills and Power of Attorney

Why is it so important to have a will and power of Attorney?

You don’t create a will and power of attorney for yourself; you do it for your children and those you love. In fact, it's one of the most unselfish things you can do in this life. Let me illustrate.  The grandmother of a friend of mine died a few years ago. She was a strong, dynamic woman, someone hardly sick a day in her life. When she was killed in a multi-car pile-up on the Trans-Canada, the whole family was devastated. To make matters much worse, this lady, who was too full of life to consider planning for her death, passed away without a will. Almost immediately, her house, her possessions and what few assets she had left became the subject of a first come, first served free-for-all among the surviving children. As you might imagine, things did not go well. Some of her children felt others had pilfered the estate of sentimental items, while others believed her very modest estate assets were unequally shared. The resulting rift tore the family apart and to this day, the children still don't speak to each other. My friend tells me that if her grandmother were alive, she'd be mortified at the thought that she'd inadvertently caused the destruction of her own family. 

Want to read more?  To receive our FREE Wills and Power of Attorney article in .PDF format, click subscribe to Debbie's Newsletter now!

Filing Back Taxes

We can help!

You messed up. Time got away from you (as it does all of us sometimes) and now you owe taxes from previous years. At some point between two and four-thirty in the a.m., you’ve conceded that the ostrich method of dealing with unpleasant realities (i.e., sticking your head in the sand until the scary thing goes away) is simply not going to wash with the CRA and now you feel like you’re drowning. So,now what?

Want to read more?  To receive our FREE Filing Back Taxes article in .PDF format, click subscribe to Debbie's Newsletter now!

Audit Angst

And how to prepare so there is none

Although audits are all part of the fun for me, to most of you reading this, the thought of an audit scares you deep down in places you don't like to talk about. I get it. I also know that most of the angst you feel is a fear of the unknown. ‘What are they after?’ ‘What will they find?’ ‘Did I keep good enough records?’ ‘Can I get in trouble?’ ‘Will I be tossed into the bowels of some secret CRA gulag while they seize my assets and slave out the family dog to pay for all the fines and penalties they've assessed?’ 

Want to read more?  To receive our FREE Audit Angst article in .PDF format, click subscribe to Debbie's Newsletter now!