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Peer-to-Peer Tax Return Filing In Canada
A few months ago, a new client walked into our office holding a letter from the CRA. He looked baffled. “I just rent out my basement on Airbnb on weekends,” he said. “How did they know exactly how much I made?” Read More
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Tax Returns and Forms for Non-Residents
Are you a non-resident of Canada, or are you planning on becoming a non-resident in the near future? If yes, then you need to learn about the tax returns and forms for non-residents; otherwise, you could end up with a nasty surprise from the taxman. Becoming A Non-resident Becoming a non-resident for tax purposes is … Continue reading Tax Returns and Forms for Non-Residents
Loading...Foreign Property Reporting for Canadians
As Canadians, we are very active in the global economy. In fact, many Canadians have foreign investments in countries from the United States to China. This article explains the foreign property reporting requirements that Canadians have with the Canada Revenue Agency. Foreign Property Reporting to the CRA Individuals looking to grow their wealth will often … Continue reading Foreign Property Reporting for Canadians
Loading...What to Know About Income Tax Preparation in Toronto
Most Canadians around this time of the year are stressing about their taxes. If you do not possess an extensive tax background then calculating your personal taxes can be frightening. After reading this article you will discover the best approach to income tax preparation in Toronto. Background All Canadians not just Torontonians must file income … Continue reading What to Know About Income Tax Preparation in Toronto
Loading...New Year Prediction for Property Sale in Canada
The Prairie sales forecast is also on the rise. Alberta and British Columbia are the provinces according to CREA, where its annual sales will supposedly rise as compared to the previous year. Prediction for National Activity: Next year, 2014, will witness national activity reach 465,600 units with a 3.5% rebound while keeping within its average … Continue reading New Year Prediction for Property Sale in Canada
Loading...Why Should Corporations Consider Amalgamation or Merger?
An amalgamation, or merger, involves combining two or more corporations into one entity. Amalgamations are sometimes performed during purchase of a business and also often as part of reorganization. This article discusses the many advantages of amalgamation. Advantage #1: Synergy Amalgamation of multiples companies into one entity can result in greater success due to increase … Continue reading Why Should Corporations Consider Amalgamation or Merger?
Loading...What You Need to Do For Personal Service Business
The Final Nail in the Coffin for Personal Service Business? What You Can Do to Fight Back Tax advantages and deferrals amongst corporations is nothing new, so it is no surprise that Bill C-48 which received royal assent on June 26, 2013 would have looming implications for many businesses including personal service businesses (PSB). This … Continue reading What You Need to Do For Personal Service Business
Loading...How to Complete Form T2125 for a Sole Proprietor
With tax season rapidly approaching everyone wants to know the most efficient way to complete their taxes. While getting taxes done quickly is beneficial to most, you could miss out on important savings that may be available. Through this quick tax tutorial designed for business owners, one can expect to learn which form to complete … Continue reading How to Complete Form T2125 for a Sole Proprietor
Loading...Unique Tax Ideas for Small Businesses
Every serious entrepreneur understands that cash is the bloodline of their business. While they look at all areas of operation for ways to cut costs and protect their cash flow, they should be aware that smart tax planning can greatly assist their business. Below, I have explained unique tax ideas that you, as a small … Continue reading Unique Tax Ideas for Small Businesses
Loading...Do non-residents of Canada pay capital gains tax?
Non-residents of Canada are required to pay tax on capital gains resulting from the sale of Canadian real estate. Failure to do so can result in huge penalties levied by the CRA. Sale of Canadian Real Estate by Non-residents of Canada Under Section 116 of the Income Tax Act, non residents who sell Canadian real … Continue reading Do non-residents of Canada pay capital gains tax?
Loading...What tax refunds and benefits am I eligible for?
Understanding Your Benefits and What Tax Refunds You Are Eligible For: The Simple Guide to Improving Your Economic Well-being Benjamin Franklin once said “In this world nothing can be said to be certain, except death and taxes”. His point remains as relevant today as it was in the 18th century, everybody hates taxes (except the … Continue reading What tax refunds and benefits am I eligible for?
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