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As Canadians we all look at ourselves as being in the same boat when it comes to our tax obligations, yet each of our tax situations is unique to us based on our circumstances. Often we hear about people who seem to be living well yet they boast about never having to pay taxes…
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As tax time draws near no doubt you are giving your tax affairs some thought. This past year there has been a lot of emphasis on off shore accounts that were not being claimed and basically it centers around tax evasion. This has caused the CRA to update their T1135 form regarding foreign investments.…
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If you have organized yourself properly as a small business person then you are keeping your business finances and personal finances separate. You should be looking at your business as a separate entity even if you are not incorporated. Often when an individual is operating a small business and in many cases from their home…
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When it comes to your Canada tax obligation just what do you have to be concerned about? Let’s itemize the areas that you have to consider when it comes tax time. a) You have to be sure that all of the financial information that you need to submit is in your possession and you have…
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Time to get your taxes done and there are lots of tax preparers in Toronto to choose from, but how do you go about this, and does it really matter who you choose as long as they get done and submitted? The answer to whether it matters who you choose or not, is an…
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Getting ready for your 2013 taxes may not be an easy task for you, if you have not been completely organized throughout your business year when it comes to keeping your financial records in order. You may be in need of some Toronto Bookkeeping Services that are going to make your tax obligations far more simple and…
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As we are now in the tax season you really have to take a close look at your tax obligations and what is required of you. If you are involved in foreign investments then you need to be particularly diligent about reporting using the Form 1135, as the CRA will no doubt be closely…
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As we all know when it comes to the Government including the CRA, what is said behind closed doors is usually far different than what is said to the general public. We also know that there has been a big uproar about the huge amount of tax evasion throughout Canada that took place regarding…
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While it is really nice to spend our Canadian cold winter months in the beautiful warm climate of the south, it doesn’t mean that you can avoid the Canada tax unfortunately. This is one responsibility that you will need to take with you while basking in the sun. Your stay away from home has…
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Many tax payers have heard about paying taxes in instalments but often assume that this is just for the big Corporations who have a lot of tax to pay. You may be surprised to learn that technically if you net taxes owing in 2013 plus 2012 or 2011 is more than $3,000. you should be…
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