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...
Mar 21, 2023 | Bookkeeping, Income Tax, Personal Finance, Small Business
Updated February 29, 2024 We prepare a lot of tax returns, so we have seen it all. Many forget or don’t even realize they may be eligible to claim tax deductions or credits. So here is our list of the top 10 most overlooked tax deductions and credits (in no particular...
Mar 3, 2023 | Income Tax, Personal Finance
Upon the death of a loved one, the executor will have a list of responsibilities to fulfill, including closing the file on tax obligations and debts. The executor must first inform the Canada Revenue Agency and Service Canada of the death. This is to ensure that all...
Feb 3, 2023 | Income Tax, Personal Finance
As a new year begins, here are some of the tax rules and changes to keep in mind. First-Time Home Savings Account (FHSA)The FHSA is a new tax-free savings vehicle for first-time home buyers to save up to $40,000 tax-free towards the purchase of a first home in Canada....
