If you’re considering starting a Shopify store in Canada, understanding the tax requirements, allowable deductions, and legal considerations is crucial to running a successful e-commerce business. Whether you’re selling products or services, it’s essential to know...

Starting a home daycare in Canada can be a rewarding business opportunity, especially with the growing demand for childcare services. However, like any business, it’s important to understand the tax requirements, government permits, and allowable deductions that come...

Growing a small business can be challenging, and securing the necessary funds is often a major hurdle. While loans are a common option, grants and tax credits offer alternative avenues for financial support. Let's break down the basics of these funding options. What...

Owning a vacation property in Canada can be a dream, but it's essential to understand the tax implications to prevent unexpected costs. Let's break down the key tax considerations for both buying and selling a vacation home. Buying a Vacation Property Property Taxes:...

In the ever-expanding world of international trade, businesses are increasingly engaging in cross-border activities. Whether it's selling products overseas, providing services to foreign clients, or investing in international ventures, these transactions can be...

Running a business is a thrilling rollercoaster. You're constantly making decisions, strategizing for growth, and keeping a watchful eye on the competition. But amidst the excitement lurks a silent monster – financial uncertainty. Numbers, taxes, and record-keeping...

Canadians are fortunate to benefit from a robust universal healthcare system. However, certain medical and dental expenses not covered by provincial plans can qualify for tax deductions, potentially reducing your tax burden. This article delves into the intricacies of...

The 2024 Canadian federal budget, delivered in April, focused on economic recovery and long-term growth. While overall tax rates remained unchanged, several key measures aimed to incentivize investment, support entrepreneurs, and address affordability concerns. Let's...

As the calendar flips towards spring, tax season looms large for Canadians. Knowing the deadlines for filing your return can help you avoid unnecessary stress and potential penalties. This article delves into the key dates associated with filing your 2023 tax return...

A November 8, 2023 Tax Court of Canada case considered whether a taxpayer’s losses from farming activities deductible against non-farming income were restricted to the $17,500 ($2,500 plus half of the next $30,000) permitted by the restricted farm loss rules for the...