About Sophie

Sophie Duncan, CA

Sophie Duncan, CA

Manager

Sophie joined KWB as a manager in January 2013. She received her Bachelor of Commerce from the University of Alberta in 2006 and went on to article with MNP in Edmonton and earn her CA designation in 2009. She stayed involved with the CA School of Business after becoming a CA and used to facilitate modules and mark module exams.

Sophie and her husband have a boston terrier and now a young son that keep them active. In her spare time, Sophie also enjoys skiing, cooking, golfing and camping.

Other Posts by Sophie

Oct 24 2017
Triplog

Triplog is a great tool if you are tired of tracking your mileage every time you get in the car. Especially if you aren’t claiming mileage as an expense because you forgot to check the odometer or write down your trips in a log book. This app easily integrates with Quickbooks Online Triplog is an […]

Mar 14 2017
Statute Barred Period

In general, CRA can reassess tax returns for individuals, trusts and Canadian Controlled Private Corporations (CCPC’s) within 3 years from the original Notice of Assessment date. After that, the returns enter a statute barred period. The typical statute barred period starts 3 years after the Notice of Assessment is issued A Notice of Assessment is the […]

Jan 17 2017
Dividends

What’s the difference between eligible and non-eligible dividends?  What are the implications to you? Dividends are payments made to shareholders to allocate the earnings earned in the corporation.   There are two types of taxable dividends that a corporation can issue, non-eligible dividends and eligible dividends. non-eligible dividends are taxed at approximately 10% more than an […]

Nov 22 2016
Tax Filing Deadline

What is your tax filing deadline? How much time do you have to file and what are the costs of not filing or of filing late? Personal Tax Filing Deadline Personal taxes are due on April 30 unless that date falls on a Saturday, Sunday or a holiday in which case the return is due on […]

Oct 25 2016
T1 Adjustment

How long do you have to file a T1 adjustment? If you find yourself in a situation where you have filed your personal tax return and then realize that you need to make a change, there are some steps you need to follow. First, you need to wait until the notice of assessment on your […]

Oct 4 2016
Vehicle ownership

We are often asked, “Should I own my vehicle in my company or personally?” The following facts can help us determine the answer to the question of vehicle ownership: 1)      How many kms will you drive it for business purposes? 2)      How many kms will you drive it for personal purposes? 3)      What is the […]

Jun 7 2016
Living Out Allowance

In certain situations, a company can deduct a living out allowance and the employee does not have to report the allowance in their income. In order for this to apply, the allowance needs to be reasonable.  Additional criteria must be met as stated below for employees at a special work site and employees in a […]

Aug 18 2015
Deductible medical costs if you qualify for a disability tax credit

A taxpayer can claim medical expenses paid for themselves as well as for their spouse, common-law partner and dependents. A dependent can include; the taxpayer or their spouse/common law partner’s child or grandchild or the taxpayer of their spouse/common law partner’s parent, grandparent, sibling, uncle, aunt, niece or nephew whom lived in Canada at any time during […]

Jun 30 2015
Medical Expenses including Attendant Care

A taxpayer can claim medical expenses paid for themselves as well as for their spouse, common-law partner and dependents.  A dependent can include; the taxpayer or their spouse/common law partner’s child or granchild or the taxpayer of their spouse/common law partner’s parent, grandparent, sibling, uncle, aunt, niece or nephew whom lived in Canada at any time during the year. […]

Mar 17 2015
Applying for a Business Number

A Business Number is a nine-digit identifier provided by the Canada Revenue Agency (CRA) to each Canadian business. This number is given to register tax accounts and to make communication with CRA easier.  Each legal entity (sole proprietor, partnership, corporation or trust) requires one business number and each business number can be registered for any […]

Mar 5 2015
Refunds that CRA will not pay

If you are late filing your corporate tax return by more than three years, any overpayment is considered statute barred under the Canadian Income Tax Act (Section 164(1)). This means that the Canada Revenue Agency (CRA) will not issue the refund to the corporation. In addition, the corporation cannot apply for tax payer relief to […]

Oct 28 2014
Child Fitness Tax Credit

The Conservative government has announced some changes to the children’s fitness tax credit which will begin taking effect for the 2014 Income Tax year: 1)      For the 2014 income tax year, the fitness tax credit is increasing from $500 to $1,000.  This credit is non-refundable. This means that parents whose income is too low and […]

Sep 9 2014

Did you know that Canada Revenue Agency has an online service called My Account which provides you with secure access to your personal or business income tax information? This online service is available 21 hours a day. (Closed from 1:00 AM to 4:00 AM) The following provides details on the information available through My Account […]

Nov 26 2013
Canadian Economy

On November 12, 2013 speaking in Edmonton, Canada’s Minister of Finance, Jim Flaherty, provided some details around the Canadian economy and some outlooks for the future. Canadian Job Market Currently, Canada has had the best job creation of all the G8 economies over the past 10 years.  Young people are experiencing a larger job market […]

Mar 24 2013
2013 Federal Budget

On March 21, 2013 the federal budget was released. Read about the 4 items in the budget that we think are most likely to affect you.

Nov 30 2012
Economic Update

Want some quick insight into what the top topics affecting the US economy are this month? Take a look at our quick snapshot.