May 13, 2025 | Income Tax, Personal Finance
Anytime you file an income tax return, you will receive a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA). It serves as a confirmation of your completed return and contains important details about your return. We are most familiar with the NOA...
Apr 11, 2025 | Income Tax, Personal Finance
As kids get their first part-time or summer job, the question we get asked a lot from parents is when does their teenager need to file their first tax return. In Canada, there’s no minimum age requirement to file a tax return. What matters is whether the person...
Jan 28, 2025 | Bookkeeping, Income Tax, Personal Finance
Tax season is right around the corner, so it’s best to plan ahead to make this year’s tax filing less stressful. Here’s how you can start to get ready for the upcoming tax season. 1. Know the Deadlines The deadline for most individuals to file their return and...
Nov 8, 2024 | Personal Finance
A TFSA (Tax Free Savings Account) is a popular and powerful tool for Canadians to grow their wealth without paying tax on investment income. However, going over the contribution limit can lead to costly penalties from the Canada Revenue Agency (CRA). What is...
Jul 19, 2024 | Bookkeeping, Quickbooks Online, Small Business
Bookkeeping is the backbone of any successful business. Accurate and efficient bookkeeping helps in maintaining financial health, making informed decisions, and ensuring compliance with the Canada Revenue Agency. However, even the most well-intentioned business owners...
