As a new business owner do you cringe when you see that little envelope from the CRA show up at your place of business? Then keep on reading! As a new small business owner there’s an unspoken rule that all entrepreneurs are the wearer of many hats. Many factors attribute to this philosophy especially in […]
Make sure you hire the right person or company to prepare your income tax return. According to the Canada Revenue Agency (CRA), 28 million people file income tax returns each year and of that number, 50% use tax preparers. […]
Keep complete records and make use of all your eligible deductions. Yes, it’s time to start thinking about income taxes again. The Holidays are over and the credit card statements are starting to come in so you’re probably thinking about money anyway. […]
Filing your Canadian tax returns has never been easier. We’re going to show you how simple it can be and how our new online service takes all the hassle and guess work out of the process. […]
This is a question often asked of me by new clients. “I have a corporation, do I need to file a tax return? I don’t earn very much”. The truth is, all resident corporations have to file a tax return every year, regardless of income levels or any other factors. […]
I know what you’re thinking: we’re all busy. Who has time to file their taxes before April? Let alone the last week of April?! Well, there are several reasons why you should get your documents into Al-Mulla CPAs sooner, rather than later. […]
You may have noticed this phrase plastered across retail banking advertisements lately. It seems like there are no shortage of financial companies reminding you to contribute to your RRSP before March 1. So what is all the hype about anyway? And why March 1? If you’ve ever found yourself pondering these questions, read on. […]
The TFSA account has been by far one of the most popular tax savings vehicles introduced by Jim Flaherty in the 2008 budget. The goal of the TFSA is to allow you to save after tax dollars without being taxed on earnings inside the TFSA. For the purpose of this post, we will discuss the […]
Due to the nature of the Canadian tax system, which relies heavily on the taxpayers’ understanding of the various rules and provisions, it is common to see taxpayers realize their previous filings with CRA were inaccurate or incomplete. […]
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