Resources and articles
Yes, you can file taxes on your own. The question is: should you? The CRA and tax software applications are striving to make the process easier and easier and for people that have simple employment income with no deductions it makes sense to file on your own. The problem is that even the best software wizards aren’t able to explain all the nuances and possible exceptions involved with filing taxes.
Part 3 – Don’t Fear Rental Income So many small businesses fixate on the almighty write off; sometimes even attempting to hind income such as rental income, in an effort to pay less tax. As mentioned in previous blogs, it is good practice to not pay more than required. But there are two important reasons why hiding rental income is a MISTAKE. First of all it’s always important to be
Part 2 – Capital Cost Allowances Do you look around your office and see piles of receipts that you have been meaning to deal with? Were enjoying the warm after effects of the holidays when you realized that the end of December means the coming of January and with it TAX PREPARATION TIME… Are you starting to feel a slight panic rising? If you’re thinking that Capital Cost Allowance is
There’s a new phishing scam making the rounds. It’s a very legitimate looking email purporting to be an Interac e-transfer from the CRA. Hold off your enthusiasm: you don’t have a bonus return! The golden rule of whether to follow a link or open an attachment is are you expecting something from the sender? However, at this point in time many people are expecting a government refund. Many parents are
