When an individual gets behind in their taxes, it is not uncommon for a bad situation to get worse. Perhaps you didn’t file on time, and you had all the best intentions in the world of getting this matter attended to shortly after the tax deadline passed. You may have even scheduled into your roster…
If you are a Canadian taxpayer that only has to file a simple return, then you are probably thinking that you do not need tax preparation Toronto services. You may want to reconsider this however, as there are many credits that could potentially be available to you, and unless you take advantage of them by…
Perhaps you consider yourself as a small business entity and as such don’t feel that you qualify or even need a Toronto Accountant. It is not unusual for a small business to just assume that they can tend to their tax matters at the end of their fiscal year, by providing the necessary figures to…
Some Ontario tax payers become so concerned about not paying their taxes properly that they wonder if they should be paying tax instalments. Often these are the people who never end up owing taxes, but are always concerned if there is any change in their income that they will be hit with a big bill…
Any Canadian that has done, is doing, or thinking about offshore investments and incomes, has no doubt been following the news in the recent months. Nobody wants to give a thought to their name showing up on some file that is listing those with offshore investments that may be questionable. The CRA has been moving…
Most people are just so happy to get their taxes filed and ready to be forgotten about for another year that they really don’t give much thought to the inner workings of the Canada tax department and their methods for verifying the multitude of tax returns they receive each year. Having a little understanding of…
Making a quick call to the CRA probably doesn’t seem like all that big of a deal for you, especially if it’s a fairly common question that you have to ask. If it is a bit complex or has something to do with the answer having a significant impact on your business then you may…
New Taxpayer Right It is not too often that we seem to get good Canada tax news, but it would appear as though the Canadian Government wants to create a better relationship with tax payers. As many of you know we do have a document called the Taxpayer Bill of Rights. Up until now…
Once you have filled out your income taxes for the year, and you hit that bottom line where you happen to be one of the unfortunate ones that have to pay, how do you go about it? The CRA of course expects you to make the immediate payment by sending the money along with your…
Foreign Income Verification Statement Question on T1 General Tax Return, T2 Corporate Return and T3 Trust Returns When you complete your Personal Income tax return for Canada there is a question on the front of the return which asks “Did you own or hold foreign property at any time in 2012 with…
