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For many tax payers they really don’t understand the legal context of what bartering is. Putting it in good old layman’s terms it simple means exchanging goods or services for other goods or services. For example, you may be an electrician, and you offer your services free to a plumber who in turn offers his…
We all know that we live in a world of technology, and it certainly has it’s perks, but it can also have it down falls too. As you may be aware the CRA has really been pushing towards automation in the last little while. If it can be done by a computer then they…
Everyone is getting revved up for the upcoming holiday season, and once November ends it seems like none stop activities. Then before you know it the New Year has arrived and its back to business. Now is the time you may be seeking out a Toronto accountant if you don’t already have one. For many people…
Many times new business owners believe that when they go to buy items needed for their business that they can use these as an expense write off for their business taxes. They make huge investments then when they sit down with their Toronto accountant they are shocked to discover that they are only allowed to claim…
If you are well before the age of 65 you probably don’t give much thought to your pensionable earnings. It may seem like a long way off, but before you know it all of a sudden you are ready to start collecting your Canada Pension Plan. However, you really aren’t quite clear on how much…
Almost every Canadian tax payer has at least a few small complaints about the country’s tax system but mostly it’s because nobody likes the thought of having to pay it. There are also many that really believe our system is totally unfair, and this is not only the thoughts of the business person, but personal…
One of the biggest complaints that small business owners across Canada have is the complexity of the tax system and the red tape they have to endure when dealing with the tax department. It would appear that the Government does listen and in fact has been listening way back since 2010. Now listening…
Once students are back in school after the summer break many still want to hold down part time jobs to help them with their expenses. At the same time quite a few of them are not sure about what this means to them for taxes. In fact, a lot of students really don’t have an…
