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Most everyone would rather find other ways to spend their money than have to give it to the government by way of taxes. This line of thinking leads them to looking for tax shelters. Due to the recent revelations of off shore tax shelters and the big trouble that many people got themselves…
There are a lot of challenges for the Ontario small business owner, both for those that are just starting up and for those that are established. For start up businesses there seems to be the never ending output of cash, and then once established in means staying ahead of the competition, and dealing with a…
As a Canada tax payer at some point in time we have all seen those nifty little bulletins that are available concerning the Canada Tax system. They were designed to help us understand the tax laws that we are subjected to. The problem is that many people who have no real understanding of financial…
It is an easy trap to fall into when you are in a self employed situation to mix your personal finances with your business finances. While this may seem like an innocent thing to do and means a lot less bookkeeping, it can also be a very dangerous situation to be in financially. To begin…
Normally if you are going to hire an individual or company to perform a service for you then you want to know they are going to do a good job for the money. When it comes to hiring a tax preparer it can be a lot more difficult to determine just what kind of job…
You have done your taxes as best you can, filed on time and now all of a sudden you have been notified that you are going to undergo a CRA tax audit. So what in the world triggered this? There are a few common things that will raise a concern with the CRA and may…
You may think that if you do not file your tax when due that the CRA is just going to ignore you until you do file. Then at that time they will come at you with penalties and fines. Some individuals will assume this, and determine to file their back taxes when they have enough…
As soon as the yearly tax returns are dropped into the mail, or more commonly now completed online, many people breathe a big sigh of relief. Then for many they sit back and wait for their refund. When after weeks or even months after there is an envelope that arrives from the CRA there is…
