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If you are just starting up a new business then you have your hands full. In no time at all you will probably find that all of the business obligations are just too much for one person to handle, yet the company isn’t strong enough financially to give you the help you need. The two…
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Sometimes tackling your tax obligations can put you in a situation where knowing a little can get you into more trouble than not knowing anything. You may have some basic understanding about some tax matters like transferring property so you can lower your tax obligations, but you don’t have enough knowledge to know that this…
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Perhaps you are the higher income earner in your family, or your spouse doesn’t earn any income at all. Yet you are still paying a hefty tax rate because of the income bracket you are in. You may want to think of splitting that income which would allow you to transfer some of the money…
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Perhaps you made a move this year so you could find new employment. Or maybe your employer had you locate. Then again it could be that you are a student and have changed your residence to be closer to your educational institution. Any of the reasons for moving could have an affect on your…
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This is also known as a notional assessment or involuntary Canada Revenue Agency (CRA) tax assessment. If you have not filed your taxes on time then you could possibly be the receiver of one of these types of assessments. Basically it means if you haven’t filed your tax return then the CRA will complete the…
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A lot of your time is consumed when owning a business. At least in the beginning, when you may be the only worker or only have one or two individuals working for you, then you may be working a lot harder. Most likely you spend your 8 or 10 hours at your business establishment…
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As a small or new business owner you are now faced with a lot of administrative tasks. Included in these is your obligation to the CRA, which goes beyond just your yearly tax remittance. If you have employees then you have a set amount of rules that you must follow diligently regarding the…
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Some people love the fact that they can automate their administrative duties a great deal, while others are from the old school and like to see this type of data in a hard copy on paper. The general trend is to become paperless as much as possible, and even the CRA is promoting this by…
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Nobody really likes to have to deal with the CRA outside of submitting their taxes once a year, then reviewing their assessment and hoping that all is in order until the next tax year rolls around. In some cases though, it is not that simple. It is not unusual for tax payers do not agree with their…
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If you have ever had to deal with the CRA especially by telephone it can become one of the most frustrating telephone calls you may have ever made. First you have to determine if you are calling about a business or personal account. There are specific departments for each of these. Most often the average…
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