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Benefits of QuickBooks Online (QBO)

QuickBooks Online offers several key benefits:

    1. Shared Data Access:

  • Collaborate with employees and your accountant in real time.
  • Easly share financial information and updates.

   2. No Software Management Hassles:

  • No need for local installations, upgrades, or release updates.
  • QuickBooks Online handles everything in the cloud.

   3. Robust Assistance Center:

  • Access online chat support for quick help.
  • Resolve queries efficiently.

   4. Automated Invoicing:

  • Send invoices and statements to clients automatically.
  • Streamline billing processes.

   5. Mobile Apps for Convenience:

  • Use iPhone and iPad apps to manage finances on the go.
  • Stay connected wherever you are.

In summary, QuickBooks Online simplifies accounting tasks, enhances collaboration, and provides valuable insights into your financial health.

Now, it is time to contact Fanoos Accounting Services today for empowering your business:

Call us at +93704995790 or email zafary@fanoosaccounting.com.

Canada Federal and Provincial Taxes Rates

Canada’s tax system involves both federal and provincial/territorial taxes. Here’s a summary of the provincial income tax rates across Canada for the 2024 tax year:

Federal Tax Rates (2024)

  • 15% on the first $55,292
  • 20.5% on the next $55,293 (up to $110,585)
  • 26% on the next $61,127 (up to $171,712)
  • 29.32% on the next $67,698 (up to $239,410)
  • 33% on the portion over $239,410

Provincial Tax Rates (2024)

Alberta

  • 10% on the first $142,292
  • 12% on the next $26,637 (up to $168,929)
  • 13% on the next $53,274 (up to $222,203)
  • 14% on the next $106,270 (up to $328,473)
  • 15% on the portion over $328,473

British Columbia

  • 5.06% on the first $47,630
  • 7.7% on the next $47,629 (up to $95,259)
  • 10.5% on the next $13,091 (up to $108,350)
  • 12.29% on the next $19,421 (up to $127,771)
  • 14.7% on the next $48,535 (up to $176,306)
  • 16.8% on the portion over $176,306

Manitoba

  • 10.8% on the first $38,211
  • 12.75% on the next $38,211 (up to $76,422)
  • 17.4% on the portion over $76,422

New Brunswick

  • 9.68% on the first $48,436
  • 14.82% on the next $48,435 (up to $96,871)
  • 16.52% on the next $15,709 (up to $112,580)
  • 17.84% on the next $20,589 (up to $133,169)
  • 21% on the portion over $133,169

Newfoundland and Labrador

  • 8.7% on the first $41,457
  • 14.5% on the next $41,457 (up to $82,914)
  • 15.8% on the next $46,912 (up to $129,826)
  • 17.3% on the next $47,622 (up to $177,448)
  • 18.3% on the next $53,764 (up to $231,212)
  • 19.8% on the portion over $231,212

Northwest Territories

  • 5.9% on the first $48,326
  • 8.6% on the next $48,325 (up to $96,651)
  • 12.2% on the next $60,443 (up to $157,094)
  • 14.05% on the portion over $157,094

Nova Scotia

  • 8.79% on the first $30,000
  • 14.95% on the next $30,000 (up to $60,000)
  • 16.67% on the next $18,000 (up to $78,000)
  • 17.5% on the next $42,000 (up to $120,000)
  • 21% on the portion over $120,000

Nunavut

  • 4% on the first $50,448
  • 7% on the next $50,448 (up to $100,896)
  • 9% on the next $50,723 (up to $151,619)
  • 11.5% on the portion over $151,619

Ontario

  • 5.05% on the first $49,231
  • 9.15% on the next $49,231 (up to $98,462)
  • 11.16% on the next $13,189 (up to $111,651)
  • 12.16% on the next $22,162 (up to $133,813)
  • 13.16% on the portion over $133,813

Prince Edward Island

  • 9.8% on the first $34,000
  • 13.8% on the next $34,000 (up to $68,000)
  • 16.7% on the portion over $68,000

Québec

  • 15% on the first $49,275
  • 20% on the next $49,275 (up to $98,550)
  • 24% on the next $21,665 (up to $120,215)
  • 25.75% on the portion over $120,215

Saskatchewan

  • 10.5% on the first $49,720
  • 12.5% on the next $49,720 (up to $99,440)
  • 14.5% on the portion over $99,440

Yukon

  • 6.4% on the first $53,359
  • 9% on the next $53,358 (up to $106,717)
  • 10.9% on the next $56,899 (up to $163,616)
  • 12.8% on the next $106,372 (up to $269,988)
  • 15% on the portion over $269,988

Key Points

  1. Progressive System: Both federal and provincial/territorial rates are progressive, meaning rates increase with income.
  2. Variation: There is significant variation among provinces and territories.
  3. Combined Rates: Effective tax rates can be calculated by combining federal and provincial/territorial rates.

Note: Income thresholds and rates may be indexed annually for inflation or changed through government policy. Always consult the latest information or a tax professional for specific advice.

Outsourced Accounting

At Fanoos Accounting Services, we specialize in providing efficient outsourced accounting services to businesses worldwide. Whether you’re based in Afghanistan or anywhere else, our team is committed to delivering top-notch financial solutions tailored to your unique needs.

Our Core Services:

  1. Bookkeeping Review:
    • Our meticulous bookkeeping experts ensure accurate records, compliance, and transparency.
    • We review your financial data to identify opportunities for improvement and risk mitigation.
  2. QuickBooks Data Entries:
    • Streamline your financial processes with our QuickBooks expertise.
    • We handle data entry, reconciliation, and reporting, allowing you to focus on your core business.
  3. Financial Reports Preparation:
    • Our skilled accountants create comprehensive financial reports, including balance sheets, income statements, and cash flow statements.
    • These reports empower you to make informed decisions and drive growth.

Global Reach, Local Expertise:

  • While our physical office is in Kabul, Afghanistan, our virtual team operates seamlessly from various corners of the world.
  • We understand the nuances of local regulations and adapt our services to meet your specific requirements.
  • Flexibility is our hallmark—we tailor our solutions to fit your unique business context.

Choose Fanoos Accounting Services for reliable, customized accounting services that elevate your financial management. Contact us today to discuss how we can support your success.


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