Category " Tax Tips"

With the new year upon us there are numerous commitments and dates we all have to remember. Among them are many government tax filing and payment dates we need to keep track of, especially if we want to avoid any unwanted fees and penalties. Here are a few common tax dates and deadlines we as [...]

A university education is a worthwhile investment — and an expensive one. Most students need some form of financial help to be able to attend university. “Twenty-five or 30 years ago a student could earn enough through summer or part-time jobs to pay their way through university, but that is not often the case today,” [...]

Congratulations — you have graduated from university. However, your excitement about graduating may quickly be tempered by the realization that you must soon begin to repay sizeable student loans. “A student loan is not free money; you have to repay it,” says Chartered Accountant Joel Podbere, Senior Manager, Assurance & Advisory, with Soberman LLP in [...]

It’s the letter or phone call every small business owner dreads — the Canada Revenue Agency (CRA) wants to conduct an audit. Now what? Here are some dos and don’ts from Chartered Accountant Andrew Flynn, a partner with Hutton Evans Flynn LLP in Lindsay. Do understand what you’re being asked for – “There are three main [...]

The Institute of Chartered Accountants of Ontario periodically publishes a series of tax planning tips. This time around they have published their latest tips for your Registered Retirement Savings Plan (RRSP). Here is part 3 of the RRSP tax tip series.

The Institute of Chartered Accountants of Ontario periodically publishes a series of tax planning tips. This time around they have published their latest tips for your Registered Retirement Savings Plan (RRSP). Here is part 2 of the RRSP tax tip series.

Every year, the federal government gives out about $4-billion to help businesses develop new products and processes. About 25,000 companies make claims, but there are many more that probably could – and would – if they knew where to start. That’s not all! Chartered Accountant Brian Cookson, a partner with RDP Associates Inc. in Toronto, [...]

The Institute of Chartered Accountants of Ontario periodically publishes a series of tax planning tips. This time around they have published their latest tips for your Registered Retirement Savings Plan (RRSP).  Here is part 1 of the RRSP tax tip series.

A Canada Revenue Agency (CRA) audit of your small business costs money, takes up your time, and causes a whole lot of stress. Is it possible to avoid a CRA audit? There are no guarantees, but here are some tips that may help keep you off the CRA’s radar screen. Be aware that there are [...]

If you are a student, take advantage of all the tax credits and deductions to which you are entitled. While you may think you are only eligible for education-related credits while attending school in Canada, you may also qualify for tax credits for overseas and/or online studies. You may also be eligible to receive credits [...]