It is time once again to start thinking about your personal tax returns for 2023. Below is a list of dates to keep in mind when getting ready for filing your 2023 personal tax returns. February 19, 2024 – first day to Efile returns. February 29, 2024 – last day to submit funds to RRSP … Read more
As a business owner it can be overwhelming sometimes to learn about all the tax obligations you have. This article aims to explain the main tax issues you need to know as a small business owner. This article is of a summary of the issues you need to be aware of, there may be other … Read more
It is time to start thinking about your personal tax returns for 2022. Don’t forget to dig out your hotel bills if you stayed in Ontario during 2022! Below is a list of dates to keep in mind when getting ready for filing your 2022 personal tax returns. February 20, 2023 – first day to … Read more
If you are struggling with keeping your bookkeeping clean while using Quickbooks Online (QBO), this article will provide some ways to ensure it stays clean and ready for your year end tax returns. A little bit of effort now will save you money in the future. Keep QuickBooks Online clean by the following: Downloading transactions … Read more
When you have an Ontario corporation, you are required to file certain returns such as a corporate tax return and possibly an HST return and others. But you are also require to file an annual information return if you incorporated in Ontario. This Annual Return is not another tax return, but provides information on the … Read more
Cryptocurrency is one of the most misunderstood financial instruments and the tax implications that comes with it can be just as confusing. My hope is to shed a little light on what you can expect for taxes on any crypto gains you may have had recently. If you bought and sold any crypto like bitcoin … Read more
Update For 2021 The Work From Home credit that was introduced in 2020 will continue for 2021 and 2022. The Flat Rate credit has increased from $400 to a maximum of $500. CRA’s information page on the update for 2021. In 2020 CRA introduced a new credit for employees who are working from home due … Read more
Below is a list of dates to keep in mind when getting ready for filing your 2020 personal tax returns. February 22, 2021 – first day to Efile returns. March 1, 2021 – last day to submit funds to RRSP for 2020’s taxes. April 30, 2021 – last day to file your tax return to … Read more
Due to the COVID-19 virus, the Federal Government has made some changes to the tax filing deadlines and deadlines for amounts owing. Individual Tax June 1, 2020 – new deadline for filing personal tax returns. There will be no penalties for filing up to June 1, 2020. August 31, 2020 – new deadline for tax … Read more
Unfortunately, this is the time of year when people fall victims to scammers pretending to be CRA and demanding money or you will be arrested or something similar. Fortunately, in Canada there is a long process before anyone is arrested for unpaid tax bills. The first thing you should do if you are being called … Read more