” I have been operating my company for almost 20 years. Ten years ago, I need a help in doing bookkeeping and accounting in a more accurate and professional way. The team headed by Glen provided me with that expectations and more. They made me feel at ease with my accounting needs and supported me with enough information on how to navigate the financial rollercoaster this pandemic brings as it impacts my company.

With Gadowsky & Associates LLP, I am able to do what I do best in my company, Wee-World Day Care Ltd., and leave my bookkeeping, payroll and accounting worries to them.”

Florence Cornel, Owner

” I have been both a business and personal tax client of Glen Gadowsky FCPA, FCGA and Gadowsky & Associates LLP for upwards of 26 years. I really appreciate Glen & the firm’s professionalism & expertise. They provide me with personalized service for me & my business that go beyond my daily accounting needs. I choose to have monthly in-person meetings where I have my accounting questions answered & business guidance when I need it. All this allows me to focus on my passion, taking care of my clients and their owners at Crestwood Veterinary Clinic.”

Dr. Mary Machum, Owner

” We have been a client of Gadowsky & Associates LLP since 2013 when they took over our prior accountant’s firm. The transition was very smooth, and we gained so much knowledge from their team for both corporate and personal taxes. During changes affecting my personal life, they have been there for me and have given me very valuable advice. I always have confidence in their knowledge whenever I ask for advice on my corporate and personal tax planning. In working with their corporate, payroll and personal tax team, they make sure I understand everything and answer my questions succinctly. “

Maureen Hamilton-Tree

“Glen Gadowsky FCPA, FCGA is my go-to guy at Gadowsky & Associates LLP. He’s there to answer my questions when I call or pop in and has been there for me and my business for over 20 years. I really feel like he and his whole team have my personal & my business’ best interest at heart. They provide me with in-house bookkeeping, business advice when I ask for it & they get my accounting done to minimize my taxes, so I don’t have to worry about any of that. I get to focus on my clients and spend my time perfecting their vehicle custom work, here at Car Pretty Inc.”

Jurgen Stolk, Owner

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Political Contributions

Federal Contributions

With the election today, we wanted to do a post about political contributions. Did you know that your Federal political contributions are made directly to a registered political party or a candidate for the election, to the House of Commons? Your contribution can be claimed by either you or your spouse, but it cannot be split between you. When preparing your personal income tax return, your Federal political contribution credit is based on the following percentages:

Up to $400 is 75%
Over $400 to $750 is 50%
Over $750 to $1,275 is 33.333%

Provincial Contributions

For your provincial contributions, here are some examples:

a candidate under an election to the provincial legislature
an Alberta political party
a leadership contestant
a nomination contestant
constituency association

Just so you know, when preparing your personal income tax return, if both your & your spouse’s names are not on the contribution receipt, only the person whose name is on the receipt can claim it.

Please make sure to note that not all provinces have the same rules for provincial contributions. The information below is specifically for Alberta in regards to the percentage of the contribution credit:

Up to $200 is 75%
Over $200 to $1,000 is 50%
Over $1,000 to $2,300 is 33.33%

You must claim all political contributions in the year in which you made the contribution. By putting both spouses name on the official receipt this can give you the opportunity to maximize this credit.

To make sure you have the correct support to claim this contribution on your tax return please contact us!

Photo by Parker Johnson on Unsplash

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