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November 2013                          PADGETT BUSINESS SERVICES®                       Vol. 11, No. 11

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Greetings!  

 

We hope you enjoyed the beautiful colours of autumn, now it's time for cross country skiing!  

 

This month's newsletter brings lots of useful tips for loaning to your children in times of need. Don't forget to check out our article on the hiring credit for small businesses.

 

As always, we welcome your questions.  Feel free to give us a call!

 

Sincerely,

 

Karin & Gerald

(403) 452-8183
In This Issue
"Soft" Loans for Your Children
Wills and the Executor
Hiring Credit for Small Businesses - Extended to 2013
The PayTrak Advantage
SoftLoans
Padgett
Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the loan will earn some investment income. The loan can be set up for blended payments of principal and interest or to pay interest only.

 Find out more! 

 
Some people feel honored to be named as the executor, in that it suggests respect and trust in their abilities. However, most people fail to realize how much responsibility is required, the amount of time and effort that the appointment often necessitates, and the family conflicts that might arise.

 Read full article 

Credit
 
The 2013 federal budget extended the hiring credit for small business (HCSB), a credit intended to stimulate new employment and support small businesses. The HCSB provides small businesses relief from the employer's share of employment insurance (EI) premiums paid in 2013. The credit does this by paying up to $1,000 based on increases in an employer's EI premiums paid in 2013 compared to those paid in 2012.

 Read article 
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(403) 452-8183
Padgett Business ServicesPadgett Business Services is dedicated to meeting the tax, government compliance, profit & financial reporting and payroll needs of businesses with fewer than 20 employees in the retail and service sector of the economy. This publication suggests general business planning concepts that may be appropriate in certain situations. It is designed to provide complete and accurate information to the reader. However, because of the complexities of the tax law and the necessity of determining whether the material discussed herein is appropriate to your business, it is important you seek advice from your Padgett office before implementing any of the concepts suggested in this newsletter.