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It can be really easy for those who are in the medical profession such as Doctors and Dentists to understand what incorporating their medical business allows them and doesn’t allow them to. Many medical professionals have an office setting where their spouse plays an active role in the administrative operation of the practice. If they…
When it comes tax time there are many individuals who dread it, but not because they have to complete their tax return, but because they owe money. Many people worry about not only current tax debts but those from previous years. Often individuals who accumulated tax debt have other financial problems that have got…
If you work in an industry where part of your income is based on tips you may be really tempted to not claim these on your tax return. Common industries where tipping is well known are restaurants, beauty salons and transportation services like taxi. Now as a tax payer you are well aware…
When it comes tax time all those who have to file begin to seek out some professional help. It is also the time of year when it is normal to see a lot of temporary offices pop up for the purpose of offering tax services. They offer lucrative rates for tax preparation and extended…
For a lot of people it is really difficult to give much thought to any type of savings plan because it is all they can do to make ends meet now. Often this means not paying attention to the registered retirement savings plan in respect to the deadline date for contributions, or even to…
Whenever there is a hint of a new tax that may be levied in the future a lot of Canadians immediately get their backs up. They already feel like they are being taxed to death, and at some point collectively will say enough is enough . However, they may not have that same approach…
As we all know our tax dollars go into the various levels of government to help pay for all the services, programs and infrastructure that we count on as Canadian citizen. Each tax dollar we pay is divided into specific amounts that get allocated to the different departments providing these amenities. What happens when extra…
When you hear of our government using a term such a Code 2015 it can conjure up all kinds of thoughts. Is it a new bill that needs to be passed? Is it some sort of new emergency term, or is it some type of new government program? The latter is correct in a…
