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Any tax payer that has to deal with the Canada tax department often does so with a certain amount of wariness. This is a very powerful sector of the government that can have a direct effect on an individual’s finances on an individual basis. If a person has a point of contention with the…
Many small businesses have multiple approaches to marketing. The internet has opened many doors to all types of businesses. There are some that only operate a virtual online business, while others have a on land location but also have a business presence online. It is important to remember that business is business to the…
We live in a world of technology so it should not come as a surprise that some form of what some call virtual money, would eventually show up. Even if your business has not become involved in digital currency transactions as of yet you probably have heard of Bitcoins. Naturally if the CRA thinks that…
Many businesses big or small tend to extend credit to their customers. They may allow anywhere between 30 to 90 days to pay their invoices. At times this doesn’t work well because the odd customer ends up not paying. So what type of tax situation does that create for the business owner? The CRA has…
There are a lot of different reasons that people go into business for themselves. Some are aspiring to start a small business with the hopes that it will grow big enough to meet their financial needs and provide them with the type of lifestyle they are looking for. Others have no real intention…
With jobs being hard to get both employers and employees are becoming more creative with their business and financial needs. In the past there have been a lot of people who simply prefer a salary or a wage and don’t want the insecurity that can come with commission payments. Businesses that are struggling…
Many people make mistakes on their tax returns and they may not be caught by Revenue Canada. Once the tax payer realizes that indeed a mistake has been made they are not sure what to do, so they just live with the hopes that it will not eventually be detected. Although many of…
A while back there was a lot of talk about the CRA clamping down on charities as there were indications that this particular tax break was being abused. So what is happening recently with this issue? Many people are concerned about the charities they are contributing to because they want their donations to be…
