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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…
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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…
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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…
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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…
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It seems like every time we turn around here in Canada that we are paying some sort of tax, and perhaps many of us feel like we are being taxed to death. Sometimes it doesn’t hurt to look at what the tax situation is like in other countries. For some they are only interested in…
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As Canadian tax payers one thing we do know for sure is that at some point in time we all will most likely have to pay some amount of tax. In most cases most of us don’t pay much attention to what our Canada tax system is really all about, and when it is…
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We have often talked about how important it is for you to keep your business organized, and how this is beneficial when you are working with your accountant. This is also applicable to online businesses which are commonly called E-business. The organization for this type of virtual business is twofold. Not only do you have…
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If you work in an industry where part of your income is comprised of tips, then you have no choice but to declare them on your annual tax return. Chances are you have taken on a job where part of what you make is going to be based on what you glean from tips. You…
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Before you can even determine if being a taxi driver has any tax advantages you have to determine if you are classed as a transportation employee, or are you a self employed individual. Each of these circumstances have some benefits and drawbacks to them regarding your tax situation. Remaining simply as an employee puts…
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It can be really difficult to know how to classify your truck driving services when it comes to the expectations of the Canada Revenue Agency. Perhaps you are an independent driver who provides transport services for multiple companies. You have no business name or business number. Or maybe you take on long haul contracts through…
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