There is often a saying that goes around that the “rich get richer and the poor get poorer”. So when the phrase Ontario wealth tax hits the media it does cause some various thoughts from both sides of the fence. The average income bracket thoughts…. For those that are in an average income bracket…
Not all that long ago there was a lot of hype about the off shore tax evasion, and Canada’s course of action. Overall it would seem that the CRA is making general steps to crack down on what they consider perhaps as weak flaws in the tax system. This brings to the Canada tax rules…
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…
The Canada Revenue Agency (CRA) makes every effort to put out bulletins and pamphlets for individuals and businesses to better understand the tax laws, and the public’s obligations to these laws. Like any rules and regulations the actual laws for taxation in Canada are complex and difficult to understand for the general public. This is…
Sam, Seidman is a Chartered Toronto Accountant that has been serving the personal and business tax needs of those living in Toronto and the surrounding area for many years. He has become known for his experience, expertise and fair pricing. To assist those in need of Toronto accounting services, he has provided answers to some…
Having resources such as guides to turn to when it comes to running a business is a valuable resource but what has to be remembered is that this type of additional help is an extra resource and should only be relied on as partial help. The same holds true for the Small Business Tax Guide…
Whenever a new budget is in the wind, Toronto business owners always have room for concern. With a tight economy most businesses view themselves as being somewhat vulnerable even though the figures make the business appear stable. Small business issues that may usually go unnoticed by those in management positions demand more attention, and companies…
Going through a divorce is not a pleasant experience. It has a dramatic and negative affect on several aspects of both parties including the children and other family members. One area that has to be addressed during this time is the legalities which include the finances. You both need to be able to depend on…
Personal tax returns can be difficult enough for Canadian tax payers, but when you have to complete your return as a self-employed individual then the real confusion sets in. The best step to take is to use the services of a Toronto Accountant who does this for a living, and will know what your best…
This is a follow up post to my original posting about tax free savings accounts to explain how the tax free savings account limit for 2013 works. Tax Free Savings Account Limit 2013 Although the annual tax free savings account limit for 2013 is $5,500 if you have never contributed to a tax free savings…
