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Do record keeping time limits mean anything anymore?

March 22, 2019

One of the most common questions asked by the lay taxpayer is for how long they need to keep their tax records. And while there is a legislated answer for this, one wonders whether it is ever safe to destroy records. Paragraph 27 of IC 78-10R5 summarizes the retention periods as follows: for a corporation, […]

Filed Under: Articles, Charities - Current Articles Tagged With: books and records, Record Keeping, record time limits, Retention periods

Beware the Usual Rules

April 20, 2017

By:  Adam Aptowitzer   Charities and not-for-profits are obviously subject to a layer of laws that are related to their special status. Often overlooked though, is that they are equally subject to the same rules and regulations as other economic actors.  Indeed, sometimes there are linkages between these two worlds making the need for good […]

Filed Under: Articles, Charities - Current Articles Tagged With: Adam Aptowitzer, books and records, CRA, improper T4, source decudtions, voluntary disclosure program, withholding

Head in the Cloud, and Books and Records on the Ground

December 22, 2016

By:    Kara Johnson If someone asked you “where” your cloud storage is, would you know the answer?  The “cloud” is the common term used when data is stored remotely but yet accessible (to your multiple devices) through the internet.  Given that the data is now ‘remote’ we often receive questions from clients as to […]

Filed Under: Charities - Article Archive, Charities - Current Articles Tagged With: books and records, Charities Directorate, Charity Records, Cloud, Drache Aptowitzer LLP, Income Tax Act, Kara Johnson, Record Keeping, Registered Office Address

Books and Records for Charities: Part II (How to Actually Keep Records)

October 14, 2014

By Alexandra Tzannidakis The failure to maintain books and records is ground for suspension of a charity’s tax-receipting privileges. Such a suspension can translate into the loss of big donations. This article is the second in a series on what “books and records” means and how to meet the requirements. Part I (An Introduction) is available […]

Filed Under: Articles, Charities - Article Archive Tagged With: Alexandra Tzannidakis, books and records, charities, compliance

Books and Records For Charities: Part 1 (An Introduction)

April 30, 2014

Books and Records for Charities: Part I (An Introduction) By Alexandra Tzannidakis The failure to maintain books and records is ground for suspension of a charity’s tax-receipting privileges. Such a suspension can translate into the loss of big donations. This article is the first in a series on what “books and records” means and how […]

Filed Under: Charities - Article Archive Tagged With: Alexandra Tzannidakis, books and records, charities, governance

Books and Records For Charities: Part III (What to Do About Missing Records)

April 30, 2014

Books and Records For Charities: Part III (What to Do about Missing Records) By Alexandra Tzannidakis The failure to maintain books and records is ground for suspension of a charity’s tax-receipting privileges. Such a suspension can translate into the loss of big donations. This article is the last in a three-part series on what “books […]

Filed Under: Charities - Article Archive Tagged With: Alexandra Tzannidakis, books and records, charities, governance

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