Blog
A Small Business Owner’s Guide to Payroll in Alberta — CPP, EI, and Getting It Right
The moment you hire your first employee, your responsibilities to the Canada Revenue Agency change significantly. Payroll source deductions are not optional, not approximate, and not forgiving of missed deadlines. The CRA treats payroll remittances as funds held in...
When Do You Have to Start Charging GST in Alberta?
One of the most common and costly mistakes Alberta small business owners make is not knowing when they are required to register for the Goods and Services Tax. The consequences of missing the registration threshold are real: the CRA can require you to remit GST you...
Salary vs. Dividends — How Should Edmonton Business Owners Pay Themselves?
Once you incorporate your business, one question comes up every year without fail: should I pay myself a salary, dividends, or some combination of both? It sounds simple. It is not. The answer depends on a dozen intersecting variables — your personal income, your...
Should I Incorporate My Business in Alberta? A Plain-English Guide for Edmonton Entrepreneurs
Every spring, after tax season wraps up and Edmonton business owners see what they actually owed the Canada Revenue Agency, we receive a inquiries that start the same way: 'I had no idea I was going to owe that much. Is there a better way to do this?' The answer — for...
Why St. Albert, Leduc, & Drayton Valley Business Owners Who Start At Large Firms Are Finding Better Service at Local CPAs
There is a pattern that plays out regularly in the Edmonton area business community. A business owner starts out handling their own books. Eventually they engage a large regional or national firm — reassured by the brand name and the size of the operation. A few years...
Trusts and Estates in Alberta: What You Need to Know Before It Is Too Late
Estate and trust planning occupies an uncomfortable space in most people's minds — it requires thinking about death and significant wealth transfers, which most people would rather not do. As a result, it tends to be deferred. The problem is that deferring estate...
Mid-Year Tax Planning Checklist for Alberta Small Business Owners
Most small business owners think about tax in April or when their accountant calls. The business owners who consistently pay less tax are the ones who think about it in June — when there is still time to do something about the current year's position. Here is a...
What Is a Notice to Reader and Does Your Alberta Business Need One?
If you operate a small or medium-sized business in Alberta and have ever applied for a business loan, approached an investor, or been asked to provide financial statements to a landlord or supplier, you have likely encountered the term Notice to Reader. It is the most...
The 7 Most Common Tax Mistakes Edmonton Businesses Make (And How to Avoid Them)
In over 24 years of working with small and medium-sized businesses across the Edmonton area, the Nguyen Scott LLP team has seen the same errors come up repeatedly — across industries, business sizes, and types. Most are entirely preventable. Here are the seven that...
GST in Alberta: When to Register, What to Charge, and How to File
Alberta is the only province in Canada without a provincial sales tax. As a result, Alberta businesses deal exclusively with the federal Goods and Services Tax (GST) at a rate of 5% — not the Harmonized Sales Tax (HST) that applies in provinces like Ontario and Nova...
Salary vs. Dividends: The Tax Decision Every Alberta Business Owner Must Make
If you own an incorporated business in Alberta, one of the most impactful decisions you make each year is how to compensate yourself. The choice between salary and dividends — or some combination of the two — has real and measurable consequences for the total tax you...
What Edmonton Real Estate Investors Need to Know About Tax in 2026
Real estate investment is one of the most common paths to wealth building in Edmonton — and one of the most consistently misunderstood areas of Canadian tax law. The combination of rental income, capital gains, property improvements, and financing creates a tax...
Filing Your Taxes After a Life Change: Divorce, Death, or New Baby in Alberta
A change in your family situation can change your tax return significantly — sometimes in ways that generate a meaningful refund, and sometimes in ways that create unexpected obligations if not handled properly. Here is what Alberta residents need to know about three...
Tax Planning and Accounting for Independent Contractors Working From Home in St. Albert
More Canadians are working as independent contractors, consultants and freelancers than ever before. Many of these professionals run their businesses out of their homes. This provides flexibility, lower overhead and an easier path to entrepreneurship. But it also...
Accounting and Tax Planning for Franchises in St. Albert
Owning a franchise in St. Albert can be a rewarding business opportunity. You have the power of a recognised brand, established business systems and ongoing corporate support. But behind the scenes, a strong accounting and tax strategy is essential to protect...
The Self-Employed Tax Checklist for Albertans: What to File and When
Self-employment in Alberta — whether you are a contractor, consultant, freelancer, sole proprietor, or independent professional — comes with a specific set of tax obligations that are meaningfully different from employment. The consequences of misunderstanding them...
CRA Audit? Here Is What Edmonton Business Owners Should Do First
A letter from the Canada Revenue Agency requesting a review of your business records is one of the most stressful pieces of correspondence a business owner can receive. It does not mean the CRA believes you have done something wrong. Most CRA audits are routine...
Alberta’s New 8% Tax Bracket: What It Means for Your 2025 Return
If you live in Alberta and filed your taxes in previous years, your 2025 return looks different. The Government of Alberta introduced a new personal income tax bracket in 2025 — an 8% rate on the first $60,000 of taxable income — replacing what was previously a 10%...
5 Tax Deadlines Every Edmonton Resident Must Know in 2026
Tax season carries real financial consequences for Edmontonians who miss key deadlines. The Canada Revenue Agency does not extend sympathy — it charges interest and penalties. The good news is that these dates are fixed, published, and completely avoidable with the...
Accounting and Tax Planning for Retail Stores in St. Albert
Retail businesses are an essential part of St. Albert's local economy, from specialty boutiques and sporting goods shops to convenience stores and multi-location brands. Running a retail store requires constant oversight of inventory, cash flow, staffing and customer...
Complex Tax Situation? Let’s Take the Stress Out of It.
Expert Personal Tax Support for Life Changes, Self-Employment & Side Hustles Not all tax returns are straightforward. If you’re self-employed, earning income from a side hustle, or navigating major life changes, tax season can quickly become complicated. Nguyen...
Haven’t Filed Your Taxes in a While? You’re Not Alone, and You’re Not in Trouble.
How Nguyen Scott LLP Helps You Get Back on Track, Stress-Free If you haven’t filed your taxes in a year, or several years, you may be feeling anxious about where to start. Many people delay filing due to life changes, financial stress, health issues, or simple...
Tax Season Is Coming. Let’s Make It Easy This Year.
Personalized Personal Tax Services Across Edmonton, St. Albert, Leduc & Drayton Valley As tax season approaches, many Albertans start feeling the same familiar stress. Questions pile up. Paperwork gets pushed aside. Deadlines loom. Whether your tax situation is...
You’re More Than a File Number
Why Drayton Valley Businesses Choose Nguyen Scott LLP for Personalized Accounting Support For many businesses in Drayton Valley, accounting has started to feel impersonal. As firms grow, merge, or restructure, clients often experience a shift from direct relationships...
Tax Season Is Around the Corner Are You Ready?
A Helpful Checklist to Make Filing Your Taxes Simple and Stress-Free Preparing for tax season doesn’t have to be overwhelming. A little organization now can save you time, stress, and confusion later. Nguyen Scott LLP supports individuals across Edmonton, St. Albert,...
Switching Accountants in Drayton Valley Doesn’t Have to Be Hard
How Nguyen Scott LLP Makes the Transition Simple for Local Businesses If you’re a business owner in Drayton Valley and feeling frustrated with your current accounting firm, you’re not alone. Over the past year, many local businesses (particularly in oil and gas,...
Tax and Accounting Strategies for Restaurants in St. Albert
Owning and operating a restaurant in St. Albert demands constant attention to your customers, your team and your bottom line. Margins are tight, costs can change rapidly and missing even one tax requirement can directly impact profitability. Smart accounting and...
Tax and Accounting Strategies for Construction Companies and Developers in St. Albert
The construction industry is a major contributor to Alberta’s economy. From small trade contractors to large developers, construction businesses require strong financial control and precise tax planning. Projects can span months or years, income can be uneven, and...
Accounting & Tax Planning for Medical Offices in St. Albert
Medical practices have unique financial and tax planning needs. From accounting for physician earnings and professional corporations to managing clinic expenses and maintaining regulatory compliance, every decision can have major tax consequences. At Nguyen Scott LLP,...
Tax and Estate Planning in Edmonton: What Happens When Someone Dies and How to Plan Ahead
When someone dies, it often triggers a range of tax obligations and estate-administration duties. While Canada does not impose a federal inheritance tax, the estate of the deceased must still file final returns, “deemed dispositions” must be reported, and in many...
Tax Benefits for Families When Children Enter Post-Secondary
Raising a child is a long term adventure. When your child enters post-secondary education you not only face a new set of costs, you also encounter a fresh set of tax opportunities. At Nguyen Scott LLP we help St. Albert families understand and use these advantages so...
Top Tax Benefits St. Albert Families Should Know When They Have Young Children
Raising young children is rewarding, but it also comes with a growing list of expenses. From diapers and daycare to school activities and healthy meals, the cost of raising a family can increase quickly. Many parents are not aware of the federal benefits and credits...
Have You Been Named In The Will Of A Loved One This Year? Here’s What You Need to Know About Inheritance Tax in Canada
Presented by Nguyen Scott LLP – Chartered Professional Accountants Serving St. Albert, Leduc, Drayton Valley & Edmonton Losing a loved one is never easy. Between processing grief and navigating complex legal matters, the last thing most people want to think about...
Top 10 Tax Deductions and Credits Canadians Should Know in 2024
Presented by Nguyen Scott LLP – Chartered Professional Accountants Serving St. Albert, Leduc, Drayton Valley & the Edmonton Region When it comes to filing your taxes, the goal is simple: pay what you owe, not a dollar more. The Canada Revenue Agency (CRA) offers...
A Complete Guide to Tax-Free Savings Accounts (TFSA) in Canada
Brought to you by Nguyen Scott LLP – Trusted Chartered Professional Accountants Serving St. Albert, Drayton Valley, Leduc & The Greater Edmonton Area. When it comes to saving money in a smart, tax-efficient way, the Tax-Free Savings Account (TFSA) remains one of...
Top 10 Things Every Canadian Should Know About Taxes
A guide from Nguyen Scott LLP to help you navigate your taxes with confidence. Taxes can be tricky—but they don’t have to be overwhelming. At Nguyen Scott LLP, we believe every Canadian should feel confident and informed when it comes to their personal and business...
How To Pay the CRA & What to Do If You Can’t Pay Right Away
Tax season is here, and for some Canadians, that means owing money to the Canada Revenue Agency (CRA). If you have a tax balance owing, it’s important to know your payment options, what to do if you can’t pay in full, and how to avoid penalties and interest. At Nguyen...
Made a Mistake on Your Tax Return? Here’s How to Fix It
Filing your income tax and benefit return can be overwhelming, and mistakes happen. Whether you forgot to report income, miscalculated deductions, or entered incorrect information, the Canada Revenue Agency (CRA) allows taxpayers to correct errors without needing to...
Avoid These Common Tax Mistakes: Ensure a Smooth Filing Process
Tax season can be overwhelming, and making mistakes on your income tax and benefit return can lead to delays, lost refunds, benefit interruptions, or even audits. To help you avoid common pitfalls, we’ve compiled a list of the most frequent tax errors that the Canada...
Selling Your Principal Residence? What You Need To Know About Reporting It to the CRA
If you’ve sold your principal residence, it’s important to understand the tax implications and reporting requirements set by the Canada Revenue Agency (CRA). Many homeowners assume that since their home was their principal residence, they don’t need to report the...
Boost Your Tax Savings: The Benefits of Charity Donations and RRSP Contributions
Looking to save on your taxes? Two powerful ways to reduce your tax bill in Canada are charity donations and RRSP contributions. At Nguyen Scott LLP, we help clients across Edmonton, St. Albert, Drayton Valley, and Leduc maximize these opportunities. Let’s dive into...
Tax Implications of Rental Properties in Canada: What You Need to Know
Owning a rental property can be a great investment, but it comes with tax implications that every property owner needs to understand. From rental income to capital gains, knowing how to manage taxes on your rental property can help you maximize your profits and avoid...
Understanding Tax Brackets and Marginal Tax Rates in Canada
Taxes can be confusing, especially when it comes to understanding tax brackets and marginal tax rates. Whether you're a freelancer, self-employed, or working a 9-to-5 job, knowing how your income is taxed can help you budget smarter, save better, and avoid surprises...
RRSP vs. TFSA: Which is Better for Self-Employed Canadians?
If you’re self-employed or run a small business in Alberta, you’ve probably wondered: Should I contribute to an RRSP or a TFSA? The answer depends on your unique financial situation and goals, but understanding the differences between these two savings plans can help...
Understanding the Benefits of Quarterly Tax Payments
Managing your business’s taxes is essential to maintaining financial stability and avoiding last-minute stress. For many businesses in St. Albert, Leduc, and the Edmonton Area, making quarterly tax payments is an effective strategy to stay on top of tax obligations...
Tax and Accounting Essentials for Cafes and Coffee Shops in St. Albert
Running a cafe or coffee shop in St. Albert is both exciting and challenging. From managing food inventory to hiring the right baristas and staying on top of daily transactions, owners juggle a lot. Accounting and tax planning play a major role in keeping a cafe...
5 Reasons to Hire a Professional Payroll Service
Running a business comes with countless responsibilities, and payroll management is one of the most critical. Ensuring your employees are paid accurately and on time is essential for maintaining trust and smooth operations. However, managing payroll in-house can...
Did You Know Keeping Receipts Can Save You Money on Corporate Taxes?
As a business owner, you juggle multiple responsibilities, from managing operations to ensuring your financials are in order. One area that often gets overlooked—until tax season—is receipt and paperwork management. In our 20+ years of experience, we’ve seen time and...
Top 5 Year-End Financial Tips for Business Owners – Deadlines Are Coming Up
As the end of the year approaches, business owners across St. Albert, Leduc, and the Greater Edmonton Area know it’s time to start preparing for year-end financial tasks. Closing out your books properly and getting your finances in order now will not only ensure a...
Nguyen Scott LLP
12 Perron St #203, St. Albert, AB T8N 1E4
View on Google Maps
ST. ALBERT
203, 12 Perron Street
St. Albert, AB T8N 1E4
Phone: 780-458-5479
Toll Free: 800-323-9887
Fax: 780-458-5981
Nguyen Scott LLP
5220 - 50 St, Leduc, AB T9E 6Z6
View on Google Maps
LEDUC
5220 - 50 Street
Leduc, AB T9E 6Z6
Phone: 780-458-5479
Toll Free: 800-323-9887
Fax: 780-458-5981
DRAYTON VALLEY
5610 - 50 Ave
Drayton Valley, AB T7A 1J9
Phone: 780-542-9292
Toll Free: 800-323-9887
About Us
Your trusted Chartered Professional Accountants in the Greater Edmonton Area. Quality accounting, financial statements, tax services, bookkeeping, and business services that move your business forward. Start with Confidence - Book your Free 30 Minute Consultation Today.
Services
► Notice to Reader
► Review
► Audit
► Personal Tax
► Corporate Tax
► Bookkeeping
► Trusts and Estates
► Advisory
► Business Valuations
