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There is no doubt that advertising costs can become substantial, but perhaps you are thinking at least you can claim these expenses. In many cases you are right in thinking this way, but don’t just assume that 100% percent of these costs is going to be a tax deduction. Where you choose to do your…
People view important factors in many different ways. There is an old saying that when a person looks at a glass of milk that is half full, some will say it is half full while others will say it is half empty. This same concept is often applied to the information that is…
Perhaps you started out in a business venture with another individual and you just assume they are your business partner. What you may need to determine is whether it is a general partnership or a limited partnership. The daily operation of your business probably doesn’t raise too many questions as to whether you consider yourself…
It is not uncommon for many businesses to want to utilize some of their personal assets in their business. At the same time they want to be able to claim any expenses that may now be related to these. In order to bring your personal assets into your business you have to go about it…
As an employee you are well aware that you pay into the employment insurance program. It does give you some comfort in knowing that should you ever be out of work that you will at least have some dollars to help you through. For many they go through years of paying into this fund, and…
If you are one of those people who have some business expenses to claim and you know that you are allowed to do so, then you basically follow what the CRA tells you to do, but are you really protecting yourself against potentially denied claims? You may be under the assumption that all you have…
Perhaps you are one of those tax payers that have applied for taxpayer relief, and you have anxiously been waiting weeks for a decision. As much as you dread calling the CRA you really want to know the status of your relief application, so you make the call. You then discover that your application has…
Every business owner becomes frustrated at some point in time with their business, even if it is turning a good profit. This usually comes when the owner sits down and looks at the financial statements and sees how much money is going out of the business, including the tax obligations. Sometimes both business owners as…
