Year-End Tax Planning Checklist: What You Need to Know
It’s almost the New Year and there’s a lot of information to cover, so let’s get right into what you need to do as 1) an individual, 2) a small business owner, partner in a partnership, or self-employed individual, and 3) as a corporation, to prepare...
What Classifies as a Business Expense
What classifies as a business expense in Canada? For many Canadian business owners and entrepreneurs, understanding what qualifies as a business expense can be a tad tricky. Yet, it’s essential knowledge for anyone aiming to maximize their tax deductions and...
Tax Tips For Entrepreneurs
The entrepreneurial journey is one of challenges, opportunities, and endless learning. Often lost in the myriad of tasks, research, and decisions, however, are vital tax issues, like how much entrepreneurs pay in taxes and how taxes affect entrepreneurs in Canada....
What Assets Can The CRA Seize?
Business or individual, the CRA has the authority to seize and place liens on assets when taxpayers fail to fulfill their tax obligations. The CRA’s primary goal in asset liens and seizures are to recover the owed taxes and encourage compliance with tax laws. In...
