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How to file taxes for multiple DBA under same corporation

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Is it legal/possible for a foreign company/trust to purchase residential real estate in Ontario?

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Bringing personal Vehicle into Sole proprietorship

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Exchange rate of TDS paid in India

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Best tax savings options for high earning spouse.

Hi, Can you tell us about options for high earning spouse ?? Thanks Anu

On my TD1, what should I enter for line 7?

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Cash withdrawal

Hi Alan, I have a ccpc corporation which is dissolved. There are 2 50/50 shareholders on it which own equal C/S. We have $12,000 cash in the corporate bank account. How can we withdraw it from the company? Would a t5 non elig dividend have to be issued out? How would it be reported on … Continue reading Cash withdrawal

Small business (CCPC) shareholder restructuring/shares transfer

Hi Allan, I hope you are doing well. Your youTube videos and website content are really awesome. Much appreciated. I have an incorporated small business (CCPC). I own 55% of the shares and the rest of the ownership is split equally between my wife and my parents (15 % each). As my parents are aging … Continue reading Small business (CCPC) shareholder restructuring/shares transfer

Looks like HST Profit From Quick Method IS Taxable…HST ruling# 9910000 – year 1999

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Can I pay my spouse a salary for 2020?

Hi, I am self-employed in construction and I read your article on How to save tax – paragraph Pay salary to family members. 1. I just made a report for 2020 and I think I earned $ 150,000.00. My spouse did not work for most of the year. She got employed in December 2020 at … Continue reading Can I pay my spouse a salary for 2020?

How to record amount of GST and HST tax on purchases

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Any issues With using personal savings to buy real estate under Company name?

Any Issues with CRA or otherwise With Using Personal Savings To Buy Real Estate Under Company Name?

principal residence exemption

I know that if we use more then 50% of the property for rental purposes, we pay capital gains tax on the 1/2 of the gain. Our house, we rent out the basement and on our tax returns we report the gross earnings and deduct expenses. 67% of the property is owned and 33% is … Continue reading principal residence exemption

HST Paid on Account receivable for 2019. Do I need to deduct the amont from q1 – 2020 for HST payment?

Hi Allan, I have some basic questions around account receivables and HST payments. I am not an accountant. I paid HST on account receivables for Q4/2019. When 2020 stared the account receivable (from Q4/2019) I entered as revenue and I paid HST on it…So looks like I paid HST twice on the same amount – … Continue reading HST Paid on Account receivable for 2019. Do I need to deduct the amont from q1 – 2020 for HST payment?

What are the tax considerations of a business Asset sale (goodwill) within an incorporation?

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