Tax News

Tax Tips Traps – Winter 2017

ON December 5, 2017

TAX TICKLERS BUSINESS LOSS OR PERSONAL VENTURE: Can I Deduct Losses Against Other Income? GUARANTEED INCOME SUPPLEMENT: Change in an Individual’s Circumstance CHARITY FILING AND COMPLIANCE OBLIGATIONS: The CRA Has Checklists to Help DYING WITHOUT A WILL: Who Can Manage the Deceased’s Tax Affairs? OPERATING A BUSINESS IN THE U.S.: The IRS is Targeting Smaller […]

Read more arrow right

Tax Planning Tips: What Receipts Should I Keep?

ON November 20, 2017

When someone mentions tax planning time, it often calls to mind the vision of someone preparing their return, with papers and receipts scattered all about, while fingers fly over the numbers on a calculator. Many of us think of this time of year as stressful and disorganized, but there is no reason for it to […]

Read more arrow right

Even Barter Transactions Are Taxable

ON November 9, 2017

When watching kids trade baseball cards on the playground, one probably doesn’t immediately think of it as a business transaction. After all, it’s a simple trade. Both children give and receive, and if one child gives away three cards to receive one that he truly desires, the trade is considered fair and equal, even if, […]

Read more arrow right

Why You Need a Professional Accountant

ON October 18, 2017

Do you enjoy doing your taxes? Many people would respond to that question with a rather emphatic “no.” For them, taxes are complicated, confusing, and frustrating. Imagine then, what it might be like to do taxes for your small business, with so much more to account for, and you might have at least one idea […]

Read more arrow right

Do I Need to Register My Business?

ON October 10, 2017

When starting out a new business venture, there are a great many things to consider. One such consideration is whether or not to register your business name. In most situations, you will actually be required to do so. A Legal Requirement in Most Cases In most cases, registering your business will not be an option; […]

Read more arrow right

Make the Most Out of Your Taxes This Fall

ON September 25, 2017

Who doesn’t like free money? One way to help you keep your hard-earned dough is to educate yourself on potential tax-deductible expenses. Simply put, deductibles are costs that can be used to lower the amount of income tax you have to pay come tax time. Chances are you’ve missed a few in the past that […]

Read more arrow right

Tax Tips Traps – Summer 2017

ON September 14, 2017

TAX TICKLERS TAX FOR PRIVATE CORPORATIONS: Major Changes Proposed EMPLOYEE DISCOUNTS ON MERCHANDISE: Change in CRA Policy DEATH BENEFITS: Tax-Free Employment Benefit RETIREMENT INCOME CALCULATOR: Ensure you are Financially Ready RETURN OF A GIFTED PROPERTY: Charitable Organizations Beware! VOLUNTARY DISCLOSURE PROGRAM: Proposed Tightening WITHHOLDINGS ON REMUNERATION TO NON-RESIDENT: Get your CRA Filings Correct PROFESSIONALS’ WORK […]

Read more arrow right

Back to School Tax Tips 2017

ON August 17, 2017

As the summer is winding down, students everywhere are gearing up for another school year. And for those of you heading back to college or university, this is also the time when financial stress can kick into overdrive. With the ever-increasing price tag of a post-secondary education, here are some tax tips for students to […]

Read more arrow right

Steps To Avoid Tax-Return Identity Theft

ON August 8, 2017

No one wants to fall victim to a phishing scam, especially one that involves the Canada Revenue Agency. In case you haven’t already heard, hackers are pretending to be from the CRA in a clever guise to get ahold of taxpayers’ personal information, like a credit card, bank account, passport, and social insurance numbers. If […]

Read more arrow right

Airbnb Tax Advice For Home Owners

ON July 24, 2017

What You Need to Know About Renting Out Your Home Like countless other Canadians, you might be thinking about renting out a room—or your entire home—to travelers. Airbnb is an increasingly popular venture among homeowners (55,000 and climbing) that can earn you some extra cash. If you’re opting to share your home through Airbnb, here are five […]

Read more arrow right