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...
Jan 5, 2024 | Income Tax, Personal Finance, Small Business
To make the most of your rental income, it is crucial to be aware of the income tax deductions available to owners of rental properties. Below are some of the key deductions that every Canadian landlord should be aware of that can help reduce the amount of income tax...
Dec 1, 2023 | Bookkeeping, Income Tax, Personal Finance, Small Business
When it comes to managing finances and preparing for tax season, professional bookkeeping is an indispensable service. Bookkeeping serves as the foundation for accurate tax preparation, ensuring compliance with regulations, and maximizing tax deductions and...
Nov 10, 2023 | Income Tax, Personal Finance
The Canada Revenue Agency (CRA) collects information on marital status as part of the tax filing process. This information is important for determining your tax obligations, credits, and benefits. In this blog post, we will explore why the CRA needs to know your...
Sep 8, 2023 | Income Tax, Personal Finance, Small Business
Taxable benefits affect employees and employers, which is why it’s important to understand how taxable benefits work. In this blog post, we will explore what taxable benefits are, how they are calculated, and their implications for both employees and employers....
Jun 29, 2023 | Income Tax, Personal Finance
When it comes to dealing with the Canada Revenue Agency (CRA), taxpayers often find themselves navigating through a maze of complex terminology. Two commonly misunderstood terms are “review” and “audit.” CRA Review A CRA review is an...
