'Tis the Season to Give Back!

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As one of Hendry Warren LLP's annual holiday initiatives, we are supporting the Boys and Girls Club of Ottawa Angel Tree Program!

The Boys and Girls Club of Ottawa Angel Tree program provides a holiday gift to more than 2,000 at-risk children in the Ottawa region. For most of these children it will be their only gift they receive this season.

We are giving gifts to children aged 6 to 18, for some this is the first time they have received a gift. We would like to thank everyone that helped us contribute to the program.


If you want to learn more about the Boys and Girls Club of Ottawa's Angel Tree Program, or you would like to donate to them, you can find their website here: http://www.bgcottawa.org/

Holiday Accounting Tips for Businesses

Let’s be real, with holiday parties left and right, your family coming into town, and the secret Santa you still haven’t shopped for, accounting tips are probably the last thing on your mind.

However, if you’re a small business owner, the holidays are some of the most crucial times for you and your business. As accountants we strive to ensure that businesses stay informed and organized on what they can do to help themselves stay on top.

Fortunately, we have a few small tricks you can use in order to save yourself a lot of time and money during the craziness of the holidays.

2017 Hendry Warren Holiday Party!

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While they aren’t really a couple, they were the couple that was best dressed for the holidays at the Hendry Warren and Transactions Inc. holiday party on Friday evening.   Brock McDonald is a Team Lead at Hendry Warren, working on his CBV designation.  Marie Wesley is part of our extended family, being recently engaged to Matt Bowcock, one of our CPA students.  We aren’t sure where Brock found that suit, but we hope to see it for years to come!

Meet One of Our Team Leads, Megan Bloskie!

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Megan Bloskie works primarily with our assurance clients providing exceptional service in audit and review engagements as well as special projects, including due diligence support. She enjoys helping clients understand the analytics and financial ratios that drive their business. From gaining a comprehensive understanding of our clients’ operations she is able to make suggestions to strengthen internal control processes in an efficient manner.

At Hendry Warren LLP, Megan enjoys being active in developing the future auditors of the firm and is actively involved in the Firm’s Quality Assurance and File Quality Monitoring program.

Megan grew up in the Ottawa Valley town of Barry’s Bay and graduated from Brock University in 2011 with a degree in Honours Accounting before joining Hendry Warren full-time in October 2012.

Movember was Fan-Stache-Tic!

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The end of Movember is here and after 30 days of growth, the gentlemen of Hendry Warren are ready to show off their Moustaches. The Moustaches are great, but even better we surpassed our fundraising target and raised almost $7,000 towards improving men's health.

You can check out the HW Super Stash Brothers Movember page here to see the individual moustaches and our teams fundraising progress. Thanks to everyone who participated and supported our team and this great cause!

Taxation of Private Corporations: An Update by Jacob Milosek, CPA, CA

By now, most are aware of the widespread changes to the taxation of private corporations that were proposed by Finance Minister Bill Morneau on July 18, 2017.  During the 75 day consultation period that ended on October 2, 2017, the government received over 20,000 submissions from taxpayers, advisors and organizations.  In mid-October, in a series of separate announcements, Minister Morneau announced modifications to the initial proposals. 

However, with the exception of updates related to the income sprinkling rules, no updated draft legislation is expected until the New Year as finance needs time to make the necessary revisions.  This newsletter written by one of our tax partners, Jacob Milosek, will review where the proposals currently stand.

Meet One of Our Assurance Managers, Shaina Watt!

Shaina focuses on assurance engagements with our Audit team, performing a range of services, but always ensuring deadlines and a quality product are the number one focus. In addition, she is active in training junior staff members.

Shaina graduated from Dalhousie University with a Bachelor of Commerce in 2013, and returned close to home to join Hendry Warren full time in 2014 after alternating co-op placements with the firm.

Serving on various committees at work including the social committee and the professional development committee, Shaina also serves as the Treasurer for the Heron Emergency Food Centre aiming to give back to members of the Ottawa community.

Shaina is a member of CPA Canada and CPA Ontario.

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Throwback Thursday to Movember 2013!

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Throwback Thursday to November 2013 when we grew our mustaches for Movember to raise awareness on Men's Health. This year our office has set the goal of $5,000 to reach!

Movember has grown in popularity since it's launch in 2004, and has raised over $839 MILLION since then through organizations like ours to fund research and spread awareness. Check out our page to donate to this incredible cause and help us reach our goal! http://bit.ly/2z4kKAr

Event Budgeting for Your Business

One of the biggest hurdles that comes up in planning an event is balancing a budget, which is why it’s key to design it around your financial resources from the start. The expenses can add up when you consider all that goes into an event, and it’s easy to get overwhelmed, especially if you have no help from a professional! Fortunately, there are steps you can take to help estimate costs and identify areas where money can be saved. 

Ontario Fall Economic Statement

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On November 10, 2017 the Ontario Ministry of Finance tabled their 2017 Budget.  Highlighted in the Budget was Ontario’s plan to reduce the small business corporate income tax (“CIT”) rate from 4.5% to 3.5% effective January 1, 2018.  This, in conjunction with the proposed Federal small business CIT rate reductions announced by the Federal Liberal Government on October 16, 2017, will bring the combined small business CIT rate to 13.5% and 12.5% effective January 1, 2018 and January 1, 2019, respectively.

This is good news for corporations subject to the small business CIT rate that plan to reinvest directly in their business,  by reducing their immediate tax liabilities to allow for larger up-front investments.  However, with reductions in the small business CIT rate comes increases on the related personal dividend income tax rates when the funds are ultimately withdrawn from the corporation by the owner.   Contact our office to discuss how these changes might impact your business and your remuneration strategy.

For more details on the 2017 Ontario Budget you can visit https://www.fin.gov.on.ca/en/budget/ontariobudgets/2017/ .

Beware of Fake CRA Phishing Scams This Holiday Season!

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With the Holidays just around the corner, the RCMP have noted an increase in the number of reports of individuals falsely identifying as Canada Revenue Agency (CRA) employees. A couple of tips to help stay safe this holiday season are:

  • Always ensure you are speaking with an actual CRA employee before giving out any confidential information including your S.I.N. If you are not sure you are speaking with an actual CRA agent, ask for their phone number and agent ID and call CRA at 1 (800) 959-5525 to verify their authenticity.
  • Do not respond to emails from CRA. CRA will not send you emails for balances due or refunds available.
  • If you receive a suspicious phone call or email from CRA and wonder whether it is authentic, give your accountant a call so that he or she can advise you.

Canada's 5th Season!

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At Hendry Warren, something that many people may not know is that our staff members have a love for the sport of hockey. Although many of our staff don’t agree on which Canadian NHL hockey team is the best, one thing they can all agree on is that every child who wants to play minor hockey should be given the chance to do so. For the second year in a row, Hendry Warren has sponsored a minor hockey team in Stittsville. This year’s Novice A house team, the Stittsville Wolf Pack will be proudly wearing the Hendry Warren name on their practice jerseys. We can’t wait to see how these 16 young boys flourish playing a sport they all truly love. There’s no better way to shape the athletes of tomorrow than to invest in their talents today!

Preparing for the Holiday Season!

The holiday season is fast approaching and along with the celebrations, family time, and delicious food, comes the draining of our bank accounts. To give perspective on how much Canadians actually spend during the most wonderful time of the year, we've put together some of the top holiday spending stats!

 
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Hendry Warren Mixes and Mingles at Schmoozefest 2017

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Hendry Warren accountants enjoyed a spectacular night of good food, drinks, and networking at Schmoozefest 2017. Schmoozefest is an event put on by United Way Ottawa’s GenNext, an initiative which aims to build awareness of community needs and volunteer opportunities amongst Ottawa’s philanthropic youth. GenNext Ottawa puts on several events throughout the year. We look forward to seeing you at the next one!

Distinctive Women - Empowered Women Making a Difference

Once again, Nancy Nicks has been featured in the annual Distinctive Women publication. Distinctive Women is a national magazine designed to showcase, connect and empower female professionals, leaders and entrepreneurs across Canada. 

As a Partner and leader in the Firm, Nancy is an excellent role model for the younger women and men working at Hendry Warren. 

You can view Nancy's full feature on Distinctive Women's website

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Movember Begins at Hendry Warren

It's that time of the year again... The costumes are off and the mustaches are ON!

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This year, Hendry Warren is helping raise awareness for Men's Health by participating in Movember! Movember has grown in popularity since it's launch in 2004, and has raised over $839 MILLION through organizations like ours to fund research and spread awareness.

Check out our Super Stash Brothers page to donate to this incredible cause and help us reach our goal of $5,000! At the end of the month, we'll show you our progress.

You can view the HW Super Stash Brothers Movember page here

Having a Blast at the Movers and Shakers Event!

On October 17th, several staff members attended the Ottawa Chamber of Commerce's “Movers and Shakers” event hosted by Red Moose Realty, Inc. at the  Kichesippi Beer Co. Red Moose Realty is an up and coming independently owned and operated Brokerage serving the Ottawa Community. Thank you for hosting a terrific event! Look for the Hendry Warren team at future events!

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Meet one of our Managing Partners, Marie Fraser!

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Ladies and gentlemen, please meet Marie! As one of our managing partners, Marie's expertise is in financial accounting, auditing, not-for-profit reporting, and financial planning. Fun fact - she's also incredibly involved in the community, including serving as the volunteer treasurer for Dress for Success – National Capital Region, and as a member of the WXN and Women for Mental Health. Thanks for being an amazing role model Marie!

Hendry Warren Football Fans Take to the Streets of Philadelphia!

Over the Thanksgiving weekend, a handful of Hendry Warren’s finest passed on the turkey to catch an NFL game at Lincoln Field, home of the Eagles! A trip to the Liberty Bell, a race up the Rocky steps at the Arts Museum and a pit stop at Geno’s for some authentic Philly cheese steak rounded out the road trip. You’re supposed to be cheering for the Redblacks fellas!

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