Nguyen Scott LLP

Nguyen Scott LLP Chartered Professional Accountant, Chartered Accountant We have three convenient Alberta locations to better serve your needs in St.

Nguyen Scott LLP is a Chartered Professional Accounting firm and has been locally-owned and operated for over 24 years. We serve small and medium-sized businesses, covering a wide range of industries and professions, including: financial services, medical practices, retail, construction, transportation, real estate, oil and gas-related services, farming, and not-for-profit and charitable organizations. Albert, Leduc, Edmonton and surrounding areas, and Drayton Valley.

The Largest Tax Bill Most Canadians Will Ever Pay Is the One Their Estate Pays When They Die. Most of It Is Preventable ...
06/17/2026

The Largest Tax Bill Most Canadians Will Ever Pay Is the One Their Estate Pays When They Die. Most of It Is Preventable — But Only If You Plan Before You Need To. Most people defer estate and trust planning, but deferring does not reduce tax owing. It often just means the estate pays more of it, and your loved ones deal with the complexity at the worst possible time.

RRSPs and RRIFs present the same issue. The full balance is included in the deceased's income in the year of death unless transferred to a qualifying beneficiary. A surviving spouse qualifies for a tax-deferred rollover. So does a financially dependent child or grandchild in certain circumstances. Everyone else triggers full inclusion. For large registered accounts, this can represent hundreds of thousands of dollars of taxable income in a single year.

For business owners specifically: the estate freeze remains one of the most powerful tools available. It locks in the current value of your business in your hands and transfers future growth to the next generation — tax-deferred, within CRA rules, and on your terms. It must be implemented while the business is operating and you are actively involved. It cannot be done retroactively.

The right time to have this conversation is before any triggering event.

Nguyen Scott LLP provides estate and trust planning advisory services across Edmonton, St. Albert, Leduc, and Drayton Valley. We work alongside your legal advisors to ensure the tax and financial elements of your estate plan are structured to protect what you have built.

Read the full guide: https://nsllp.ca/blog-trusts-estates-tax-alberta-guide/
Book a complimentary consultation: https://nsllp.ca/contact-us/

06/16/2026

This is one of the most common questions our CPAs at Nguyen Scott LLP hear from business owners — and the answer matters more than most people realize, because missing corporate tax deadlines triggers penalties and interest from the CRA that are entirely avoidable with proper planning.

In Canada, a corporate income tax return (T2) is due six months after your corporation's fiscal year-end. So if your year-end is December 31st, your return is due June 30th. If your year-end is March 31st, your return is due September 30th.

Beyond the deadline itself, a well-prepared corporate tax return involves significantly more than simply reporting income. At Nguyen Scott LLP, corporate tax returns prepared by our CPAs cover loss carryforwards and carrybacks, capital cost allowance optimization, eligible deductions, the small business deduction, dividend strategies, GST reconciliation, and T4 and T5 slip preparation. The difference between a tax return that is simply filed and one that is strategically prepared can be thousands of dollars in your corporation's favour.

If your corporate year-end is approaching or you are not sure whether your current accountant is optimizing your return — book a free 30-minute consultation with Nguyen Scott LLP. We serve businesses across Edmonton, St. Albert, Leduc, and Drayton Valley and would be glad to review your situation with no obligation.

📞 780-458-5479 | Toll Free: 1-800-323-9887 | St. Albert | Leduc | Drayton Valley
👉 Book your free consultation: https://nsllp.ca/contact-us/
🌐 https://nsllp.ca/

06/15/2026

For most Alberta business owners and individuals, the end of tax season feels like crossing a finish line. Returns are filed, refunds are deposited or balances are paid, and the whole cycle gets pushed to the back of the mind until next April. But for clients of Nguyen Scott LLP, the period between June and December is not a pause in the relationship — it is where the most valuable work happens.

The months after tax season are the ideal window for proactive tax planning, corporate restructuring, and strategic advisory conversations that have a real impact on what you owe next year. The decisions that reduce your tax bill in April are almost always made months earlier — in the structure of your compensation, the timing of your expenses, the way your corporate accounts are managed, and the strategies that require enough lead time to implement properly.

At Nguyen Scott LLP, our CPAs work with individuals and businesses year-round — not just at tax time. Whether you run a construction company in Leduc, a medical practice in St. Albert, a real estate portfolio in Edmonton, or a small business anywhere in the greater Alberta area, the post-season conversation is the one that actually changes your financial trajectory. It is these conversations that set us apart.

Book your free 30-minute consultation today and let's talk about what the rest of 2026 looks like — before it happens, not after. That is where the difference gets made.

📞 780-458-5479 | Toll Free: 1-800-323-9887 | St. Albert | Leduc | Drayton Valley
👉 Book your free consultation: https://nsllp.ca/contact-us/
🌐 https://nsllp.ca/

06/11/2026

Rental income is one of the most CRA-audited areas of personal taxation in Canada. Real estate investors often have significant income, significant expenses, and a level of complexity that creates errors in both directions: some investors claim too much (treating capital improvements as repairs, claiming personal-use portions of shared properties), and some claim too little (missing legitimate interest deductions, advertising costs, professional fees, or property management expenses).

The six deductions rental property owners most commonly handle incorrectly are: (1) Mortgage interest — the interest portion is deductible, principal is not; (2) Repairs versus capital improvements — a repair is deductible immediately, an improvement adds to the adjusted cost base or is depreciated through Capital Cost Allowance; (3) Home office expenses for properties partially used personally; (4) Travel expenses to inspect, manage, or maintain the property — these are deductible when the purpose is clearly business-related; (5) Insurance premiums; and (6) Professional fees — including accountant and legal fees related to the property.

Short-term rental operators (Airbnb, VRBO, etc.) face additional compliance requirements that came into effect January 1, 2024: you must comply with all applicable provincial and municipal registration and licensing requirements in order to deduct rental expenses. If your short-term rental is operating in a municipality that requires a license and you do not have one, you may lose your deduction entitlement retroactively.

Nguyen Scott LLP works with rental property owners — from single-property investors to multi-unit portfolio holders — across St. Albert, Leduc, Drayton Valley, and the greater Edmonton area. Set up a complimentary consultation today.

Property investor? Get the right accounting → https://nsllp.ca/contact-us/

Here is what a mid-year review covers and why each item matters:Year-to-date income against your projection. By now you ...
06/10/2026

Here is what a mid-year review covers and why each item matters:
Year-to-date income against your projection. By now you have six months of actual data. Are you tracking higher or lower than anticipated? A business running significantly ahead of prior-year income may be underpaying instalments — which triggers interest charges even when the full balance is paid at year-end. A business running below projection has different planning options. Know where you stand.

Salary and dividend mix. If you are incorporated, what you have paid yourself year-to-date may no longer align with the optimal structure for this year's income.

Planned capital expenditures. The timing of significant purchases relative to your fiscal year-end affects when you can claim Capital Cost Allowance.

Business structure. Has anything changed this year that warrants a structural conversation? Growth in revenue or profitability, a new business partner, family members entering the business, a potential acquisition, or plans to sell — all of these have lead-time requirements.

GST reconciliation. If you file quarterly, June 30 is the end of Q2.

Retained earnings and passive income. If your corporation has significant retained earnings, mid-year is the right time to review whether any distribution before year-end is tax-advantageous. Passive investment income above $50,000 in a CCPC can reduce the small business deduction in subsequent years — a threshold worth tracking.

Nguyen Scott LLP offers mid-year planning consultations for business clients across Edmonton, St. Albert, Leduc, and Drayton Valley. If you have not had this conversation for 2026, the best time to have it is now.

Read the full guide: https://nsllp.ca/mid-year-tax-planning-checklist-for-alberta-small-business-owners/
Book a complimentary consultation: https://nsllp.ca/contact-us/
Test your tax knowledge: https://nsllp.ca/tax-quiz/

06/09/2026

How well do you actually know the Canadian tax system? Most people file their returns every year, but very few could answer basic questions about the rules that govern them.

Tax literacy is not just an academic exercise. Not knowing the rules is what causes missed deductions, unexpected penalties, interest charges you could have avoided, and CRA letters that require professional intervention to resolve.

At Nguyen Scott LLP, we have created a free Tax IQ Quiz that tests your knowledge of the Canadian tax system in a quick quiz. It takes about five minutes and there are no wrong answers — only opportunities to learn.

Take the quiz, share it with a business partner or spouse, and see how you compare. And if the results raise questions you want answered by a real chartered professional accountant with decades of experience, our team is here. Offices in St. Albert, Leduc, and Drayton Valley — and a complimentary consultation for anyone who wants to start the conversation.

Take the Free Tax IQ Quiz NOW → https://nsllp.ca/tax-quiz/ | Book a consultation: https://nsllp.ca/contact-us/

06/08/2026

If you have not filed tax returns for two or more years, you are not alone and you are not out of options. The situation is completely resolvable — and in many cases, the outcome is much better than people expect. The Canada Revenue Agency's Voluntary Disclosures Program (VDP) exists specifically for situations where taxpayers come forward to correct or complete prior-year filings before the CRA contacts them. A successful VDP application can result in the waiver of some or all penalties, and in some cases a portion of the interest as well.

The key condition for VDP relief is that you must come forward before the CRA initiates contact with you. Once the CRA has written to you about your unfiled returns, the VDP window for those years typically closes. This is one of the strongest reasons to act now rather than waiting. Coming forward on your own terms, with organized documentation and a CPA who knows the process, is a fundamentally different situation than being compelled to file under CRA pressure.

What does the process actually look like? Your accountant will prepare the outstanding returns, calculate the tax owing and any applicable penalties and interest, and help you understand your options for payment — including payment arrangements if you cannot pay in full immediately. If VDP applies, a formal application is made in parallel with the filings. The whole process is manageable, and people emerge from it with their tax situation clean, their stress reduced, and often a surprising amount of clarity about their finances.

Nguyen Scott LLP handles unfiled years and VDP applications for clients in St. Albert, Leduc, Drayton Valley, and across Alberta. We approach every situation without judgment — tax situations get complicated for many different reasons, and our job is to help you move forward, not to make you feel worse about the past. One confidential phone call is all it takes to start.

Confidential, judgment-free consultation → https://nsllp.ca/contact-us/

We're Hiring! – Receptionist / Client Services CoordinatorNguyen Scott LLP is growing, and we're looking for a friendly,...
06/05/2026

We're Hiring! – Receptionist / Client Services Coordinator

Nguyen Scott LLP is growing, and we're looking for a friendly, organized, and professional individual to join our team as a Receptionist / Client Services Coordinator in our St. Albert office.

As the first point of contact for our clients, you'll play an important role in creating a positive client experience while helping support our team with day-to-day administrative operations.

Responsibilities include:
• Greeting clients and visitors
• Answering and directing phone calls
• Scheduling appointments
• Managing incoming and outgoing client documents
• Assisting with client communications
• Supporting administrative and office operations

What we're looking for:
• Strong communication and interpersonal skills
• Excellent organizational abilities and attention to detail
• Professional and positive attitude
• Experience in reception, administration, customer service, or office support is an asset

Why join Nguyen Scott LLP?
• Supportive and collaborative team environment
• Family-friendly workplace
• Opportunities for growth and development
• Competitive compensation
• Established local CPA firm serving the St. Albert community for over 25 years

We're proud of the culture we've built and are looking for someone who will help us continue providing exceptional service to our clients.

To apply, please send your resume to [email protected]

Know someone who would be a great fit? We'd appreciate a share or referral!

06/05/2026

Leduc's proximity to Edmonton International Airport and its position as a logistics hub for central Alberta makes it home to a significant number of trucking, logistics, and transportation businesses. The tax and accounting issues for operators in this industry are specific, and we can help you understand and plan a tax strategy that works for your business.

For owner-operators working under long-term contracts, the GST compliance picture involves both the GST collected on freight services and the ITCs available on fuel, maintenance, and equipment purchases. Fuel is a significant cost driver for transportation businesses, and ensuring that GST paid on commercial fuel is correctly captured as an ITC is foundational. If your fuel receipts are not being systematically captured and reconciled, you can easily be overpaying.

Nguyen Scott LLP works with transportation and logistics businesses in Leduc and the greater Edmonton area. We understand the asset-heavy, high-volume nature of your business and the tax tools available to operators who manage their numbers carefully. If your accounting is not keeping pace with your fleet, it is time to have that conversation.

Accounting built for transportation → https://nsllp.ca/contact-us/ | Leduc: 780-458-5479

06/04/2026

Receiving correspondence from the Canada Revenue Agency is unsettling for most people, but it is important to understand what kind of contact you have actually received before reacting. The CRA issues several types of correspondence: a request for information or supporting documents (not an audit), a proposed adjustment to your return (an automatic reassessment based on information received), a formal Notice of Reassessment (a completed reassessment), and a formal audit notification (a more comprehensive review of your records). Each has different implications and different required responses.

If the CRA has sent a request for information — asking you to substantiate a claim with receipts, confirm income amounts, or explain a deduction — you typically have 30 days to respond. The response should be organized, complete, and confined to exactly what was asked. Volunteering additional information beyond the scope of the request is a common mistake. Ignoring the letter or responding late almost always leads to the disputed amount being disallowed automatically.

For a formal audit, the process is more involved. The CRA examiner will request access to your books, records, and supporting documentation, and will work through a defined scope.

The most important thing we tell clients who receive any CRA correspondence: bring it to us before responding. A poorly worded reply, a missing document, or a misunderstanding of what is actually being asked can complicate a straightforward matter significantly. Nguyen Scott LLP represents clients through CRA reviews and audits across St. Albert, Leduc, and Drayton Valley — and our involvement typically makes the process faster, less stressful, and better resolved.

Got a letter from the CRA? Call us first → https://nsllp.ca/contact-us/ | 780-458-5479

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203, 12 Perron Street
Saint Albert, AB
T8N1E4

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Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 4pm

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