Tax season is here, and if you’re like many Canadians, you might wonder whether you’re truly maximizing your tax savings. With over 400 deductions available from the Canada Revenue Agency (CRA), it’s easy to miss opportunities that could lower your tax bill. Whether you’re an individual, investor, business owner, or student, there are specific deductions and credits that could significantly impact your 2024 tax return. Read More

Cryptocurrency has exploded in popularity over the past decade, but when tax season rolls around, many Canadians are left wondering: do I owe taxes on my crypto? Whether you’re moving coins to a cold wallet, swapping tokens, or cashing out, understanding how the CRA views these transactions is crucial. Read More

The principal residence exemption (PRE) is a great valuable tax benefit that’s available to homeowners in Canada. Since 2016, the CRA has required taxpayers to report the sale of a principal residence on their tax return. Failing to designate the property properly can result in a loss of the exemption and possible penalties. Read More

As tax season approaches, it’s essential to stay informed about the changes and updates that may impact your 2024 tax return. From federal tax brackets and RRSP contribution limits to automobile deductions and updates to capital gains inclusion rates, this article breaks down the key changes and their implications for individuals and in some cases, sole proprietors. Read More

Investing in U.S. real estate offers a wealth of opportunities, from generating passive income to building long-term wealth. However, for Canadian investors, understanding the tax implications and choosing the right investment structure is critical. By strategically planning your investments with the help of a cross border accountant, you can navigate these complexities and make informed decisions. Read More