Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Accountants Hounjet Tastad Harpham Share Changes To Accelerated Capital Cost Allowance.

Trusted Saskatoon Accouontants Hounjet Tastad Harpham is a locally owned and operated accounting firm in Saskatoon. While they are based in Saskatoon, they serve clients across the entire province. Hounjet Tastad Harpham has spent decades gaining the trust of the people of Saskatchewan and has gained a reputation as one of the most knowledgeable and consistent accounting firms in the city, and province. They provide accounting and tax services for small, medium, and large businesses, as well as individuals and non-profit organizations. Hounjet Tastad Harpham is a partnership between Roseline Hounjet, Allyn Tastad, and Dustin Harpham.


Accelerated capital cost allowance is changed.


With the tax changes announced in the federal government’s fall economic statement, farmers can get more capital cost allowance sooner on the purchase of equipment.

Some equipment dealers are using this accelerated investment incentive property (AIIP) as a sales tool. Here’s what has changed and what it means in actual dollars. Taxes are certainly not my area of expertise. Thanks to Saskatoon accountant Allyn Tastad of Hounjet Tastad Harpham for walking me through the changes and the implications.

The changes apply to property acquired after Nov. 20, 2018, that becomes available for use before 2028. Farm equipment qualifies. One exception is a property that was previously owned by the taxpayer or by a non-arm’s length person or partnership.    

 The incentive accelerates the amount of   capital cost allowance that can be deducted   from taxable income. First of all, the half-year   rule has been suspended. Until now, you   could only claim half of the regular allowance   in the year that something was purchased.   Now you can claim 100 per cent of the   applicable capital cost allowance in the year   of purchase.

In addition, the first year of capital cost allowance has been bumped up by 50 percent. In practical terms, a producer will have equipment in various capital cost allowance categories. Net additions to any class will be increased by a factor of 50 percent for calculating the first-year capital cost allowance.

 

For subsequent years, the allowance deduction returns to normal. 

So how does all this work in practice? Let’s say you buy a new or used tractor for $100,000. Tractors and other self-propelled equipment are in Class 10 and eligible for a 30 percent capital cost allowance.

If you purchased the tractor before Nov. 20, the capital cost allowance in the first year is 15 percent or $15,000. This is half of the 30 percent allowance in the first year of purchase.    

     

If the tractor is bought after Nov. 20, the half-year rule is suspended, plus the amount is bumped up by a factor of 1.5 times. Rather than a capital cost allowance of 15 percent, you can deduct 45 percent, which is 45,000.

 

How does this affect your tax bill? If you’re running an incorporated farm with a federal tax rate of 12 percent, the $45,000 capital cost allowance reduces your tax bill by $5,400. The same tractor purchased before Nov. 20 would generate a reduction in taxes of only $1,800.

 

This is a federal incentive to buy equipment and stimulate the economy. However, remember that when you’re allowed to claim more allowance in year one, it reduces how much is left for subsequent years. The total amount of deduction hasn’t been increased. You just get to claim deductions sooner.             

 Farmers who are old enough may remember the tax credit that existed on new equipment purchases back in the 1980s. You actually received an extra tax credit over and above the capital cost allowance. That’s been gone for decades and this new incentive should not be described as a tax credit. It’s merely an acceleration of the expense you can claim. 

There is value to receiving more of your tax deduction earlier, but when you work through the numbers, this shouldn’t move the needle very much when deciding whether to upgrade equipment. Other considerations remain much more important.


If you are looking for a Saskatoon chartered professional accountant for your personal taxes or business accounting needs, contact the team today.


Check out their listing here: Hounjet Tastad Harpham are Trusted Saskatoon Accountants


Information sourced from  https://www.producer.com/2018/12/accelerated-capital-cost-allowance-is-changed/  By Kevin Hursh

Trusted Saskatoon Bathroom Store Kitchen & Bath Classics Breezes Through a Mystery Shop!

Being a Trusted Business on the Trusted Saskatoon Directory of Excellence comes with a lot of responsibility - no other directory, advertising medium, or 'watchdog organization' puts businesses through the process we do before we promote and endorse them. 

The Trusted Saskatoon businesses become partners with a contract, and they become part of a Trusted community. In a community, we all have our parts to play to ensure that the directory maintains it's high standards and level of integrity.  To ensure that our partners are upholding these guarantees on a daily basis we have a MYSTERY SHOPPER PROGRAM, where normal everyday people mystery shop our Trusted SaskatoonPartners. 

We then ask our mystery shoppers to fill out a report to tell us about the experience and share them here in our Saskatoon Trusted tip library. 



Our latest business to be mystery shopped are the Trusted Saskatoon Bathroom Experts at Kitchen & Bath Classics in Ssakatoon!

Name of Shopper: Kim K

MYSTERY SHOP CHECKLIST

1. How was the greeting/ welcome/ call answered? Friendly staff member

2. If retail: Appearance of the store/staff and showroom? Great showroom, clean and I had no idea they did lighting!

3. Product/industry knowledge of staff? Very helpful – they directed me to the product that I asked for.

4. If a quote is required is the quote well laid out/ clear? No quote required – they got me pricing and I bought the item there and then from them.

5. Did they ask where you found them? No

6. Overall experience 1-10. I never give 10s- but they get a 9

7. Would you return as a customer/ recommend them to close friends? Yes- definitely – I was happy.

8. Did anyone stand out as exceptional? If so who? Why – Everyone was helpful.

If you made a purchase/booked a job how was the process? 
If you did become a customer please refer to the Trusted Guarantees and give an overall mark on each if applicable

TRUSTED GUARANTEES
1. Provide the service and quality promised. - 10
2. Complete the job on time. – 10 – it was in stock!
3. Charge the price quoted with NO surprises- 10 - as priced
4. Communicate honestly and be responsive to customer needs- 10
5. Resolve any issues with customer satisfaction in mind – 10 – no issues with service or product


Please share any other comments relating to your experience with the company.

"I had never been to Kitchen & Classics before finding them on TrustedSaskatoon.com– I was impressed with the selection, the store and the price of my item (a toilet). The staff were helpful and the quality of the product for the price is great! I will go back in the future and would recommend others to go there – thumbs up from me!" - Kim 

GREAT job goes out to the bathroom team at Kitchen & Bath Classics! They have reaffirmed that they are deserving of the THUMBS UP from www.trustedsaskatoon.com!

If you need to upgrade your kitchen or bathroom and are looking for a company with excellent customer service and knowledge, check out Kitchen & Bath Classics Trusted Saskatoon listing for more information - they are Trusted Saskatoon Bathroom Experts!


Trusted Saskatoon Team Brags About MR Promotions & Apparel!

The Trusted Saskatoon Team is excited to announce our latest Trusted Saskatoon Partner. MR Promotions & Apparel are Trusted Saskatoon promotions and apparel experts! 

MR Promotions & Apparel

"Our business is promoting yours!"

Owner Kelsey Hufnagel has owned MR Promotions & Apparel since April 2017. When the Trusted Saskatoon team sat down with Kelsey and heard what the name stood for and learnt more about her business we knew that she was authentic, genuine and definitely had high business etiquette with customer service at the forefront! 

Did you know it's actually MR Promotions & Apparel not Mr. Promotions & Apparel? This was part of the great conversation that we had with Kelsey had when we first sat down together. She shed the reason behind the name. 

 "MR Promotions & Apparel or MR Promo as most people like to call us, is a heart and mind name combined. I needed something that would not only stand out, but careful not to be too trendy and I wanted a name that would withstand the test of time. I love MR Promo and what better way to include the initials of my children in the title. I have a daughter Maycyn who is 16 and a son Robbie who is 17. We have been through many challenges and lived bare cupboards for so long that I needed to do this for them. They have gone through a lot and that is why MR Promo name truly is a family name. Adding Promotions and Apparel is important because the advertising speciality industry is all about including apparel with promotional items. I wanted a name that would stand out and be recognizable. A name people could TRUST! MR Promo was unavailable as a business name so we designed it as part of the logo. Everyone still calls us MR. Promo and we knew that would happen and we love it! When people find out that MR actually stands for my kids names they are blown away and we all share in a good chuckle and laugh about it. It is a great way for me to connect with my clients. " - Kelsey Hufnagel (Owner MR Promotions & Apparel) 

Everyone knows that authenticity is everything to us at Trusted Saskatoon and we definitely know that Kelsey and her team are the real deal after chatting with some of her clients! We shared some on the MR Promo listing here - and here are some more comments from other clients.


"Kelsey is fantastic, outgoing and knows what she is doing. We had a great experience with her. We are currently going through the purchasing pages on MR Promo right now and she's been absolutely fantastic. We give her a 10/10 and would definitely recommend her," - Angie Sandin (Willowpoint Financial)
"Kelsey is currently working with us for our re-branding and we have a short timeline. She has been working directly with us to get things embroidered and quoted a very fair price. She is great at communicating deadlines and there have been no surprises. She is on top of everything, very professional, very good at knowing what we want and honest about all the products! She has our recommendation!" - Courtney Tuck (SureGrowth Technologies)


We asked Kelsey what her favourite success story has been so far and this is what she had to say:

"Honestly, I was asked by a significant role model in the Promo industry from the United States to be on his radio program. I didn't think I could do it, but it was an hour long and only felt like 5 minutes. To be recognized in the U.S. where the promotional industry is gigantic was a big deal for me. It has given me more credibility in the in the industry. It has also connected me to so many people that I needed and wanted to to help grow my business. My most exciting request so far was from the Regina Food Bank to quote 5000 shirts! It's very exciting!" 

We are proud to have Kelsey and her business MR Promotions & Apparel on our directory of excellence. She passed our verification process with flying colours and you will love her personality, promptness and all the great products she offers! 




Trusted Welcomes Kelsey and the team fto the Trusted Saskatoon community and we are proud give them the THUMBS UP! 




MR Promotions & Apparel are Trusted Saskatoon Promotions & apparel professionals 




Saskatoon Home Building Experts Decora Homes Named Number 7 in Top 25 Room Design 2017

DISTINCTIVE, CONTEMPORARY...DECORA HOMES. They build to reflect your personality, they design to meet your needs...They build relationships, DECORA HOMES...it's ALL in the details. 

Decora Homes are your Trusted SASKATOON HOME BUILDERS on the Saskatoon Directory. 


Decora Recognized as Number 7 of 25 Room Design in 2017


WHAT AN HONOR! Decora Homes was recognized as Number 7 in the Top 25 Room Design in the 2017 Builder & Design Challenge with Metrie! The amount of entries submitted for this challenge was extremely high throughout Canada & United States. For Decora to be acknowledged in the top 25 is truly an honor! Decora Homes Ltd. are a Trusted Saskatoon Homebuilder.





Decora Thanks Design Team 


Their design team Whitney Romero & Kristi Katsiris worked hand in hand with the clients to create this stunning Majestic Theatre. These ladies truly represent Decora Homes remarkably well with their design inspirations and creativity. Proud moment for all of the Decora Team!

Decora is truly blessed to have clients that share a vision with them and allow them to be creative and design such beautiful spaces!!




Find Decora Homes online HERE , or check out their listing under SASKATOON HOME BUILDERS on the Saskatoon directory of Excellence they are a TRUSTED SASKATOON HOMEBUILDER!!




Trusted Saskatoon Framers J & S Picture Frame Warehouse Celebrate 40 Years in Business!

 J & S Picture Frame Warehouse believe that your pictures deserve the best! Locally owned and operated, they constantly strive to bring their customers the best materials, advice and workmanship for all of your framing needs.

J & S Picture Frame Warehouse simply offers the best selection of materials to preserve your treasures, keepsakes and works of art in Saskatoon. Quality is paramount at J & S - all work is completed with superb craftsmanship, expert advice and friendly service. Nationally acclaimed local artists trust J & S with their original artworks...why trust your memories to anyone else?

J & S Picture Frame Warehouse are Trusted Saskatoon Picture Framer Experts.

J & S Picture Frame Warehouse Saskatoon Celebrates 40 Years in Business! 

It’s been 40 long, exciting, and change-filled years since J&S opened their doors in 1978. For four decades, J&S Picture Frame Warehouse has been offering premium picture framing services to the people of Saskatoon out of their Jessop Avenue Store, in the Sutherland neighbourhood. As part of celebrating this extraordinary milestone, we decided to sit down with the current Owner and Operator of J&S , Sherry Morris and learn more about her story.

There and Back Again 

Sherry was born and raised in the Yorkton, SK area. She is the daughter of a farmer and rancher, and one of six siblings. Growing up, Sherry was always into art, and when an opportunity to apprentice with a picture framer in Toronto presented itself, she jumped at it. Sherry apprenticed under a man named Tino Tamburi – a Turkish-Italian immigrant who owned 8 stores in Toronto. Under Tino’s instruction, Sherry learned the art of selecting, preparing, and assembling materials into beautiful, high-quality frames.

Sherry ended up liking the profession. She brought her skills back home and started J&S Picture framing with her Husband Jack, and her brother Sam. While the “J&S” initialism referred to the owner’s names, in the early days they affectionately ascribed the meaning “Juggle & Struggle” to their business name. Despite the early challenges, the team persevered and established themselves as a trusted business.

When sitting down with Sherry she described herself as a “big-big family person”. You get a sense of the aptness of this description the moment you walk into the shop. The warm and welcoming staff combined with the beautifully framed local artwork makes it a very pleasant place to walk through and enjoy. Among the local artwork are pictures of Sherry on her various adventures through the world – Kenya, Egypt, China – and a healthy share of space devoted to pictures of Kane, Sherry’s beloved pooch. For good measure, the artwork of the extremely talented J&S staff members hangs among the other displays. This scene reflects-back perfectly on the kind of shop J&S is – a local business that treats their talented staff like family and strives to make everyone who walks in the door feel like part of that same family.  

Check out this slideshow walking us through the 40 years of J&S history!


Congrats on 40 Years of Great Service – Here’s To Many More!

On behalf of the entire Trusted Saskatoon Community, we want to say an enormous CONGRATULATIONS on 40 years in business - what an accomplishment! We’re proud to promote you as Trusted Saskatoon Picture Framing Experts, and thank you for being an amazing Trusted Saskatoon Partner since the very beginning!


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S & E Trusted Online Directories Inc
TrustedSaskatoon.com
129 21st St E #400
Saskatoon, SK   S7K 0B2
Ph: 306.244.4150

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