Keeping track of your business expenses is an important part of your operations to ensure that you have a good handle on your finances and to accurately report your tax situation at the year-end. Alongside your expenses, your assets can be a tool you can take advantage of, dep...

When we meet with clients who come in looking to file their personal tax returns, the first thing we check with every individual is what items are applicable to their tax situation and that they have the documentation to be able to apply those items on the return. It’s importa...

The CRA Voluntary Disclosure Program grants relief to taxpayers who voluntarily omitted or made an error on their tax returns. In the program, taxpayers can correct or make changes to their previous year returns. What Types of Relief can the Voluntary Disclosure Program Provid...

When it comes to taxes many individuals have the tendency just to report their income and a few other expenses that they have become accustomed to collecting, such as medical expenses or property taxes. However, if you have assets outside of Canada you could have additional re...

Great accountants create a secure and stable financial environment for your small business. They manage your business professionally. Accounting services covers expert accounting, sales tax (HST), taxation services, and financial planning. Every company needs the services of s...

Is your Toronto based business on the brink of financial distress? Are you thinking of officially closing your Toronto business and claiming bankruptcy? Do you owe a lot of debt to your suppliers? Are you in arrears on your tax payments to the Canada Revenue Agency? Is your in...

If you are a U.S. national who is residing outside of the country, you may find yourself facing a tricky situation surrounding the taxes on your earnings. As per the 16th Amendment, the government is within its rights to impose a nationwide tax on residents of any of the 50 st...

Canada is the land of multiculturalism, immigrants, and one of the most inclusive countries in the world. To greener pastures, as they say, welcome to Canada! Therefore, we decided to prepare this article with the intention of providing guidance on newcomer tax returns. Canada...

Millions of Canadians were forced to work from home during the 2020 tax year and opted to use their bedrooms, kitchens, and living rooms to work remotely for their employers. This creates an administrative burden on employees to claim their work from home office expenses on th...