Being the boss is much more complicated than being a simple employee. You don’t cash in your paycheck every two weeks and forget about your worries. There are a lot of responsibilities you need to juggle at once. […]
Tag: tax planning
How To File Your Canadian Tax Returns?
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. […]
Corporate Tax – who has to file?
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. […]
Over contributions to your Tax Free Savings Account (“TFSA”)
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 […]
Tax Compliance: Voluntary Disclosure Program (VDP)
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. […]
Important Tax Accounts
The general public may be familiar with accounts such as the income tax account and the tax payable account. However, when it comes to tax, a few of the most important accounts in tax are accounts that you might be unaware of. These accounts include the refundable dividend tax credits (RDTOH), the capital dividend account […]