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GGFL Named ‘Best of the Best’ by INSIDE Public Accounting

GGFL Named ‘Best of the Best’ by INSIDE Public Accounting

For the fourth time, GGFL has been named ‘Best of the Best Accounting Firms’ for North America by INSIDE Public Accounting. GGFL was one of just five firms in Canada to receive the recognition. ‘Best of Best’ recipients are assessed through an in-depth survey and analysis of 50 criteria including strategic planning, training and development, […]

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GGFL, COVID And The Future – A Message to Our Clients

GGFL, COVID And The Future – A Message to Our Clients

In March 2020, as Canada began to realize the severity of COVID-19, we at GGFL decided to close our office and become a virtual firm. Had we decided to do that in ‘normal’ times, it would likely have taken years. With COVID looming large, it took us roughly a week. We asked a great deal […]

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Understand Receivables: a NFP Board Member’s How-to Guide

Understand Receivables: a NFP Board Member’s How-to Guide

All board members, including those involved with non-profit organizations, are held to a minimum standard of care and diligence when it comes to the finances of an organization. This is why, at a minimum, it is important for a non-accountant to understand what “accounts receivable” are on an internal financial statement. Check out our other articles on Financial Literacy.

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Understand Financial Statements: a NFP Board Member’s How-to Guide

Understand Financial Statements: a NFP Board Member’s How-to Guide

Board members are often bored during the financial discussion or financial statement presentation at a meeting. If they are lucky, they have someone with a financial background as a treasurer or chair of the finance committee. This article addresses how the financial process of your organization should operate and how it impacts you because you share the responsibilities for ensuring that proper financial controls are in place.

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Medical Expense Tax Credit – Nursing Homes vs. Retirement Homes

Medical Expense Tax Credit – Nursing Homes vs. Retirement Homes

The federal and Ontario governments have tax credits available to taxpayers, including those paid for medical expenses. The Medical Expense Tax Credit (METC) can be claimed for costs associated with nursing and retirement homes that are paid by you or your spouse. METC claims depend on several factors, including the kind of facility you reside in, your medical condition, the level of your income, and dependency on others.

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