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If you are not quite sure what category your business fits into then you want to take a close look at what the CRA considers as a Personal Services Business or (PSB). As an incorporated business this is really important to you that you are not classified as this, because it would mean that you…
There are a lot of good reasons for getting your taxes done as early as possible instead of waiting for the deadline. Many times your Toronto accountant can be instrumental in giving you some good tax tips based on your last year’s tax situation. It could be that this year would be a good year…
If you are a Vaughan business owner it doesn’t matter whether you are big or small, there is a good chance that you could use the services of a quality accountant. It isn’t just at tax time that these types of accounting services are valuable either. Living on the outskirts of Toronto really does…
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…
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…
As the year draws to an end lots of people like to start the New Year with a fresh start. This often means trying to clean up loose financial ends. Perhaps you have an outstanding tax debt and you really don’t have the funds to clear up your account with the CRA, but you at…
Yes, as soon as the festivities are over you are going to be entering into a new tax year, which means you have to start planning for your tax return. You may find yourself in a variety of situations. Perhaps you have a good accountant so you are in good shape. In the…
You may not even be aware of what Canada tax payer relief is. This is where the tax department may be forgiving on penalties and interests that have gathered because of taxes owed and not paid. The Canadian government realizes that there are times where a tax payer can fall upon hard times that could…
