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October 18, 2024 at 10:36 am #71647
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September 14, 2022 at 2:10 pm #66554
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August 25, 2021 at 9:04 am #26858
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November 18, 2020 at 10:06 am #24128
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December 20, 2019 at 10:05 am #20990
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December 12, 2019 at 9:25 am #20940
For trust transactions BMO is our go to bank. Large value wires, incoming and outgoing, seem to run through without issues. On the odd time where we have questions, there is always someone available to help.
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December 4, 2019 at 11:33 am #20888
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June 20, 2019 at 8:04 am #19349
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May 8, 2019 at 9:59 am #18963
We have not had a partner go on maternity leave at this point but we did include a clause in a Partnership Admission Contract which states that “during any maternity leave taken as a partner, the firm will pay the Law Corp. a top-up of EI benefits based on 85% of draws for four months. In addition, income entitlement for the year in which maternity leave has been taken, will be calculated based on pro-rated figures”
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February 21, 2019 at 2:45 pm #18067
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February 12, 2019 at 1:14 pm #17986
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October 17, 2018 at 8:16 am #16741
Correct me if I’m wrong, but wouldn’t the WIP allocation be an adjusting journal entry at year end, from accounting income to taxable income, taking into account all the steps that Elvis has mentioned, in addition to calculating the cost, rather than the value? That’s my plan, I hope I’m not too far off.
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August 13, 2018 at 12:33 pm #15846
For staff referrals we pay $500. We do not have an Associate referral program.
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July 17, 2018 at 8:03 am #15564
We have set up the Commercial Banking platform with BMO and have initiated 1 wire and we did not encounter any problems. Through BMO, the cost of the platform is far less that the amount of the wire service charges (BMO charges a percentage of the amount wired up to a maximum of $135)
We are also set up with TD, however we have not had to send a wire yet. -
April 17, 2018 at 8:17 am #14568
I’m not sure if all firm’s use the same treatment but it is part of the net income allocated to the partners’ drawing account at year end and then paid out as prior year income. It is included as income on their T5013.
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