Most people realize that paying taxes although unpleasant is really a necessity, if they want to enjoy the public benefits that the money from tax collection is supposed to bring. Your tax dollars are distributed through two levels of government which both contribute to many resources that we use on a daily basis. However, this…
It is not uncommon for small businesses to share their frustrations with their accountant concerning the growth of their business. Very often an experienced accountant can offer a lot of good tax planning advice to help companies move in the right direction. For example, these financial experts can often discern when it would be more…
It is not uncommon for Canadian tax payers to get confused over what it means to have to pay their tax by instalments. Some that are only familiar with parts of the tax law assume that these types of payments are only applicable to back taxes owed, and arrangements have been made to catch up…
Filing your taxes is your responsibility and this means that you need to gather all of the pertinent information that is going to relate to your taxes. This often means that you need to look at the other family members and how they have any bearing on your tax filing. Many of us live…
Usually if you are going to hire an expert to perform any type of service there has to be a good reason why you need the type of services they offer. This is no different when it comes to a tax accountant. In fact, you may not realize just how important it is to utilize…
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…
We’re going to wrap our series on the CRA 12 Step Red Tape Reduction Plan by finishing off with the last 2 and final steps of this plan. For many these last two steps are going to be really important. According to the CRA our Canada Tax system for the small business person is going to…
Review of CRA 12 Step Red Tape Reduction Plan Part 8,9 and 10 While for the most part many businesses deal with the small tax related items when it comes to Canada tax which are annoying enough there are some bigger aspects that have to be dealt with by some companies. These are tax rulings.…
We are more than half way through our review of the CRA 12 Step Red Tape Reduction Plan and up until this point the proposed changes all seem to be in favor of the small business person. While they are not geared towards direct Canada tax relief they are in place to make the tax system easier…
Part 4 & Part 5 In this part of the CRA red tape reduction plan the Canada Tax department is taking responsibility for their accountability for information. This is also a welcoming change. All too often advice given by the tax department in the past has either been so vague or so complex that…
