Tax News

Ready to take your business to the next level? It might make sense to start thinking about incorporating your business. Incorporation has a bonanza of benefits, from tax advantages and increased credibility to limited personal liability and transferable ownership. While it might seem that forming a business is a confusing and stressful process, it really […]

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TaxTipsTraps_Q1_2016 PDF In this edition: TAX TICKLERS NEW FEDERAL LIBERAL GOVERNMENT Impact on Tax Rules? NEW – HOME ACCESSIBILITY TAX CREDIT Renovations that Pay Off! CAREGIVERS FROM OVERSEAS Child Care Expenses STATUTE-BARRED ASSESSMENTS Relying on Promoters KEEPING CONTACT INFO CURRENT Denied Objection Extension Request CRA PROJECT Small Business Deduction CRA SELECTION FOR AUDIT Why Me? FILING […]

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For many business owners, the question of whether or not to incorporate is going to come up. And why not? There are many advantages to incorporating a small business. For one, your company can have more credibility with potential lenders, suppliers, customers, investors and employees. There are a host of other benefits as well, including limited personal liability, ability […]

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You have turned your dream of starting a new business into a reality. You are gaining more customers, cash flow is good, and revenues are finally surpassing expenses. This is normally the time when many new business owners consider whether or not to incorporate their business. Whether you are starting a new business or running an established company, here […]

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TaxTipsTraps_Special_2015  PDF . 1.59MB IN THIS EDITION 2015 YEAR-END TAX PLANNING 2015 REMUNERATION YEAR-END TAX PLANNING December 31, 2015 is fast approaching… see below for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation. SOME 2015 YEAR-END TAX PLANNING TIPS INCLUDE: […]

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TaxTipsTraps_Winter_2015  PDF . 2.4MB IN THIS EDITION TAX TICKLERS Quick points to consider REQUEST FOR A CHANGE TO THE FISCAL PERIOD Simplify your Reporting PROVIDING INFORMATION TO CRA But I Don’t Want To! BLOGGER’S BUSINESS LOSSES Personal or Commercial Venture? CRA COLLECTIONS Watch Out! GIFT CARDS FOR PROMOTIONAL PURPOSES Are they Fully Deductible? INSURABLE EMPLOYMENT […]

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TaxTipsTraps_Fall-2015  PDF . 3.5MB IN THIS EDITION TAX TICKLERS Quick points to consider THE UNDERGROUND ECONOMY CRA Highlights High-Risk Industries EMPLOYEE BENEFITS Tax Efficient Compensation FARMS – SALES OF LAND AND RELATED RIGHTS Business Income or a Capital Gain? LEASEHOLD IMPROVEMENTS ON BUILDING OWNED BY SHAREHOLDER Is there a Taxable Benefit? DONATING ITEMS RATHER THAN […]

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Click here to see PDF “I worked for more than 10 years with accounting firms before I learned that I do not like working for people who do not respect me; who do not value my time or efforts; and that I did not like the politics and games of the big, bad, corporate world. […]

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Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider OWNER-MANAGED BUSINESS TRANSITIONS Planning in Advance LOANS FOR VALUE Income Splitting Opportunity DAY TRADING IN AN RRSP, RRIF OR TFSA Could it be Business Income? FAMILY TAX CUT Joint Custody, GST/HST Credit, and Withholding Tax FOREIGN REPORTING Warning Letters Sent Out U.S. […]

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Download the PDF here YEAR-END TAX PLANNING December 31, 2014 is fast approaching… see below for a list of tax planning considerations.  Please contact us for further details or to discuss whether these may apply to your tax situation. SOME 2014 YEAR-END TAX PLANNING TIPS INCLUDE: Certain expenditures made by individuals by December 31, 2014 […]

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