Updates and Tips
Blog
Determining whether or not a trip is a taxable benefit
Determining whether or not a trip is a taxable benefit Might be you are required to visit any sunny location like Mexico or Dominican Republic. The purpose of this visit is to attend the conference trip as an advisor. The trip value is taxable subjected to your role...
Calculate & Minimize Capital Gain tax on Real Estate in Canada
Calculate & Minimize Capital Gain tax on Real Estate in Canada What exactly is a capital gain or loss? Selling a capital asset or an investment and the proceeds of the sale exceed the fitted cost base of the asset, capital gain is incurred. On the other hand, if...
Tax Obligations of Amazon Seller
Tax Obligations of Amazon Seller Taxes and death are inevitable. In Canada, a business owner must understand and fulfil his tax related obligations in number of ways. Not only filing of those tax returns is important, but timely payment is also important to avoid...
How to Manage Amazon Finances?
How to Manage Amazon Finances: Anyone with an internet connection and a little time can now shop on Amazon or similar e-commerce platforms like ebay, Etsy etc. This boom in online buying has boosted e-commerce entrepreneurship. However, with more business comes more...
Should you Incorporate Your Small Business?
Should you Incorporate Your Small Business? This is a question that many small business owners ask at various stages of their entrepreneurship journey. The answer is not as simple as it is thought. There are a number of factors to be considered before arriving at any...
Million Dollar Question: Should I buy (finance) or lease a capital asset?
Small business owner takes a number of decisions day-in and day-out. However, there are few decisions that demand significant thought process because they influence a long term impact on the cashflows, tax liability and eventual growth of the business. One of those...
Small Business Grants Ontario 2021 – COVID-19 Business Support
ONTARIO SMALL BUSINESS SUPPORT GRANT As the recession hits the world due to pandemics, the government of different states announced different support schemes for small startups (the ones having little revenue or even the ones that are suffering an extreme...
All About Small Business Tax Filing
All About Small Business Tax Filing To help make the filing process less stressful, We have provided some important tax deadlines and information about Small Business Tax Filing the 2020 tax return, and more. Here’s what you need to know for filing your 2020 tax...
The New Rent Subsidy | CANADA
Bill C-9 in respect of #CEWS and #CERS (the new rent subsidy) has been released: CEWS Following is included as the change to the top-up subsidy revenue decline calculation, and the freezing of period 8 CEWS calculations through to period 10. The legislation generally...
5 most common personal tax mistakes
1. Claiming RRSP Contributions at the Wrong Time: The first most common personal tax mistake is claiming RRSP contributions in the wrong period. It’s very important that any contributions made in the first 60 days of 2020 be reported on your 2019 tax return. While you...