Whether you like it or not the CRA is pushing hard for everyone to do the majority of their Canada tax dealings online. They are really intent on going paperless. This can be difficult for many individuals like seniors for example, who do not own a computer or are not comfortable using one…
As a small business owner you may fit into one of many categories. Your business may be located outside of your home, or you may be operating a home business. In either case you may be relying on one laptop for both business and personal use. If this is the case then you really need…
It is not unusual for many tax payers to be somewhat skeptic or defensive when dealing with the CRA. This is often a reaction to being a little nervous about dealing with such a body of Government that has a great deal of power over your finances when it comes to your tax obligations. It…
As an Incorporated business in Ontario you are well aware that the Company will have tax obligations. Most likely you know the basics of what these obligations are but may not be too knowledgeable as to the rate of tax your Company is being charged with. The rates for tax can change at any time however the…
Sometimes it seems like we pay so many different forms of taxes that rather than try to determine how our tax payments are allocated, we just look at the lump sum as tax in general. In general we do know that a portion of whatever we pay in the year for our tax account is…
All too often we have a tendency to listen to others when it comes to tax matters. It can become a topic of conversation amongst social gatherings for example, and the tax regulations can actually become misconstrued which can lead an individual to making big mistakes with their tax filings. A good example is how…
A lot of business owners like to provide extra incentives and/or help in various ways for their employees. Often what they don’t realize is that this could be considered as “fringe benefits”, and as such is taxable. This is frustrating for both the employer and employee, but nevertheless it could be the law. Some prime…
Perhaps you have attempted in the past to do your own taxes and just gave up, because even with the guidelines you just couldn’t decipher each and every line. Or maybe you assumed that the tax guide you used to get with your tax return package was the absolute law and every word was…
As a new or small business owner naturally if your Company is doing well you want to reap the benefits of some of the profits. Your first inclination just may be to draw a salary from the business funds when it is able to support this or you have need of it. You…
Now that for most of us the tax season is behind us, but for some this will not be the case. You may receive an assessment of your taxes and the first thing you want to do instead of just filing this away is to read it carefully. It will either agree with what you…
