Have you started saving for your golden years yet? It’s never too early or late to start! Not every Canadian citizen has a pension plan set up with their employer and if you’ve never thought about an RRSP you should strongly consider having that discussion with your accountant today. One of the most common questions […]
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 […]
It’s never too early to start planning your year-end tax strategies. For many businesses, the month of October signals that the end of the fiscal year is not far away. Realizing that December 31 is fast approaching should prompt you, as an owner-manager, to review your year-to-date corporate and personal data and start putting your […]
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. […]
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. […]
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. […]
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 […]
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