Tax News

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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How to Incorporate Your Business

ON February 1, 2016

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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Tax Tips & Traps – Winter 2016

ON January 29, 2016

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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When Is It Time to Incorporate Your Business

ON January 21, 2016

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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Why Incorporate Your Business?

ON January 7, 2016

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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Tax Tips & Traps – Winter 2015 Special Edition

ON December 15, 2015

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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Tax Tips & Traps – Winter 2015

ON October 29, 2015

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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