Update - Our office is open for public and we doing personal taxes in Person
If you have a personal and/or company car that is used for business purposes, you are entitled to gain a car allowance from your employer. If you use your car for work purposes, it is always best to keep a logbook, this logbook should include the date, location you went, and reason you went there.
How To Prepare A T4 Slip If you are an employer or own your own corporation, this blog will help you to get the information necessary to prepare a T4! A T4 slip includes your employment earnings and deductions for the calendar year. You can ask one from your employer if you do not have
1- Your Tax Balance Usually Goes Like This: Total income – Deductions Net income – Addition deductions Taxable income Federal tax (apply matching tax rates and brackets) – Non-refundable tax credit Net federal tax + Provincial tax Balance owing/refund claimed If you are self-employed, you are also required to add
When it comes to year-end tax, there are many different tricks and tips an owner of a small business can follow in order to save. Throughout the contents of this blog, I will be telling you five different strategies to follow in order to save money at year-end tax. Bonus Strategy In order to put
PREC – Personal Real Estate Corporations A new and amended regulations to the Real Estate and Business Brokers Act, 2002 (REBBA) has been released by the Ontario Government. The new regulation deals with personal real estate corporations and gives real estate agents the ability to utilize the benefits of incorporation. Brokers and salespeople may also
In March, a significant law affecting Realtors in Ontario received Royal Assent: The Trust in Real Estate Services Act, 2020 (TRESA). The new legislation developed from the Real Estate Business and Brokers Act, 2002 (REBBA). The Trust in Real Estate Services Act, 2020 (TRESA) enables Realtors to perform incorporation and receive remuneration through a Personal Real
Hi this is Muhammad Nasrullah I have accounting firm providing public services For more than 20 years in Greater Toronto Brampton and Mississauga Area Hobby Or Business If you have a hobby that you like to do for fun, be it collecting and selling rocks, or making art, or giving out boxing lessons,
If you are subjected to pay Canadian income tax and looking for effective ways to save money from it, here is the right article for you! Let us find out what you can do to reduce your income tax legally. 1. Take Advantage Of Your RRSP RRSP (Registered Retirement Savings Plan) is a type of
If you live in the city or any suburban area, then you have heard of Uber. Uber is a company that essentially works as a taxi service but just a little bit cheaper than your regular cabs. The way Uber works is by downloading the app off your phone’s app store, then after downloading, you
If you have tax still owing to the Canada Revenue Agency, there are a couple different ways to help you get rid of the debt. The CRA acts very fast and will take extreme actions to get the tax owing from you so you must be quick to act. There are multiple ways to help