TFSA or RRSP... What should I use? Do I use both, or just one? How do I know which one is better for MY situation? In this week's episode I try to help you understand how the two of them work so you can make the right decision for YOU.
This week we discuss CERB, CRB, CEBA, and all the other subsidies and grants offered throughout COVID. Did you know that they are not all taxed the same way? You owe more taxes on some than others, and it's important to get it done right.
This week we are focusing on claiming your vehicular expenses. Did you know that there are five different ways you can do it? Sounds like it should be convenient, but really it's something you have to be careful with. If you do it the wrong way, you could end up owing a lot of money to the CRA!
There has been a rent subsidy available since March but until September 27 it was only available through your landlord. If they did not choose to apply for it, as a tenant you were SOL. But, as of September 27, there is a new rent subsidy and it is available directly to the tenants!
This year will be a little bit different for home office expenses. If you are required to work from home in 2020 (as the vast majority of the world was), then you will be entitled to make a claim for home office expenses! This is new for many people and an opportunity to save some money on your taxes.
Did you get all your deductions in previous years? As a service to our clients, we can do a review of your previous years' tax returns up to nine years back! Working with you to understand how your tax returns were prepared previously, we can evaluate if there are opportunities that might have [...]
The Disability Tax Credit (DTC) is a non-refundable tax credit that helps persons with disabilities or their supporting persons reduce the amount of income tax they may have to pay. An individual may claim the disability amount once they are eligible for the DTC. This amount includes a supplement for persons under 18 [...]
Do you know everything you need to do to start a successful small business? I happen on people wanting to start a small business all the time. So we created a small business start-up package for new entrepreneurs. We provide you with the information you need to actually start the business, including: business [...]
Have you considered incorporating? Do you understand all the pros and cons? We offer incorporation services to your new or existing business. We will provide you with an overview of the pros and cons and incorporate you if you decide to move forward. We can also combine this offering with the New Business [...]
Would you like to know if you are going to have a tax bill next April? We are offering a fixed-price Mid-Year Review to clients who want to estimate their tax results ahead of time. We gather information about your year-to-date financial results, and, using some assumptions and your expectations for the remainder [...]
