Tax News

Tax Tips & Traps – Summer 2016

ON July 19, 2016

TaxTipsTraps_Q2_2016 PDF – 3 MB In this edition: TAX TICKLERS CREDIT CARD COMPARISON Do You Have the Best Credit Card for Your Needs? TIPS AND GRATUITIES Employer’s Responsibilities to Withhold CPP and EI MULTIPLICATION OF THE SMALL BUSINESS DEDUCTION Significant Changes Ahead COMBINED AUDITS OF OWNER-MANAGED COMPANIES Shareholders’ Personal Information WORKING BUT NOT PAYING YOURSELF Employment […]

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5 Expenses That Are Not Tax Deductible

ON June 27, 2016

There is a fine line between looking to save some cash on your taxes and taking deductions that will probably raise a few red flags at the Canada Revenue Agency. So, if you are thinking that those snazzy new threads you bought for work are tax deductible, you could be in for a bit of […]

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Here’s What Can Happen If You Don’t Pay Your Taxes

ON June 22, 2016

Now that summer is here and tax season is nothing more than a distant memory, you are probably breathing a sigh of relief. Gone are the days of enduring meticulous research, filing reports, and paying off tax debt (at least for another year anyway). Yes, you can finally sit back, relax and enjoy the sun, […]

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Top 5 Tax Tips for Young Professionals

ON May 24, 2016

For many of you young professionals, handling your own finances might be an entirely new—and sometimes daunting—process. But now that school is out and you are entering the professional world, it is important to know what to do with your income. Remember, the older you get, the more complicated your tax situation might be. So, […]

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Things to Consider When Choosing Your Next Tax Preparer

ON May 13, 2016

Need your taxes done but don’t want to be stuck doing them yourself? We don’t blame you. The constant changes in tax law can make the processing of tax returns demanding for anyone, from ordinary taxpayers to business owners. That’s why you need a tax preparer who knows how to get the job done right […]

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4 Common Accounting Mistakes That Can Put Your Business at Risk

ON April 25, 2016

Accounting is a major factor in the success of any business. And the more a business grows, the more challenging and complex managing a company’s finances can become. So, if you decide to handle your own accounting, you might be making a huge mistake that can put your company in the red. Here are some […]

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3 Tax-Free Benefits You Can Get From Your Small Business

ON April 15, 2016

Let’s be honest. Being your own boss comes with some pretty nifty perks. You get to make the big decisions, set your own hours, choose your clients and types of work—all of which can open the doors to a more flexible lifestyle. And who wouldn’t want that? Did you also know that owning a small […]

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What Happens If You Fail To File You Taxes On Time?

ON March 23, 2016

Are you freelancer? Do you own your own business? Then there is no doubt you’ve got your hands full—calling the shots, making the schedule, and meeting the needs of your customers. With so much going on, it can be easy to forget to file your taxes on time. Sadly, putting your taxes on the back […]

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4 Reasons You Should Hire a Professional to File Your Tax Return

ON March 14, 2016

It’s that time of year again… tax season is officially upon us. And like many Canadians, you might be struggling with whether or not to hire an accountant to file your tax return. Maybe you like the convenience of letting a professional deal with the hassle, but also feel you can take on the challenge […]

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RRSP vs TFSA – Here’s What You Need to Know

ON February 22, 2016

Still can’t decide between a TFSA and an RRSP? Well, you are not alone. With the media and personal finance blogosphere ablaze, constantly fueling the debate over which one is better, figuring out the best place to invest your retirement dollar is not an easy choice. Without a doubt, both are great saving tools. But […]

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