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As a senior in Canada you just may be wondering where you fit into the tax system when it comes to paying or receiving at the end of the tax year. While the Canada tax system has a lot of information support it often doesn’t make it any easier to understand. For this reason a lot of…
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Service Changes The Canada Revenue Agency has ended payment and enquiry counter services at the Toronto North Tax Services office effective October 1, 2013. Previously you could go in to the tax service office and make a payment on account of taxes or arrears and drop off any federal tax returns or information…
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It is an easy trap to fall into when you are in a self employed situation to mix your personal finances with your business finances. While this may seem like an innocent thing to do and means a lot less bookkeeping, it can also be a very dangerous situation to be in financially. To begin…
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Normally if you are going to hire an individual or company to perform a service for you then you want to know they are going to do a good job for the money. When it comes to hiring a tax preparer it can be a lot more difficult to determine just what kind of job…
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You have done your taxes as best you can, filed on time and now all of a sudden you have been notified that you are going to undergo a CRA tax audit. So what in the world triggered this? There are a few common things that will raise a concern with the CRA and may…
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You may think that if you do not file your tax when due that the CRA is just going to ignore you until you do file. Then at that time they will come at you with penalties and fines. Some individuals will assume this, and determine to file their back taxes when they have enough…
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As soon as the yearly tax returns are dropped into the mail, or more commonly now completed online, many people breathe a big sigh of relief. Then for many they sit back and wait for their refund. When after weeks or even months after there is an envelope that arrives from the CRA there is…
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There has certainly been a lot of news media about tax evasion when it comes to Canada tax in the media this year. Then for awhile it all seemed to die down. You would think now that the whistle has been blown on so many large tax scams that this would be a good lesson learned for…
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Once you have your business pretty well organized then you have to start to look at what are going to be your responsibilities in respect to your taxes and related to topics. This may include what your obligations are for paying GST/HST Tax Canada. If your business includes the sale of taxable products or services…
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Keeping track of your finances for your Toronto business is not an easy task, but can be easily assisted with by making use of the talents of a good bookkeeping service and quality accountant. One financial area of a business that can be a frustrating task is the payroll. While you may be able to…
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