Do you run your own business and share the income with your spouse? Make sure that you're doing it properly, or the CRA might not like it. The best thing you can do is have the right strategy going into it, so hire an accountant today!
Did you take a CEBA loan for your business? They've extended the deadline for repayment into January. It's not much, but it is better than nothing. Make sure you're planning for this, though, because there could be serious implications if you don't!
Check your bank account! It's that time of year again -- the government is sending out money. If yours is missing, it's time to check your MyCRA account!
Did you know that if you owe the CRA $10,000 at tax time and are even one day late, you will owe them over FIVE HUNDRED dollars? That's right -- it could cost you big-time if you don't stay on top of things. That's why it's best to do what you can now to avoid this situation entirely.
With the cost of living rising faster than our wages, it can be hard to set aside money for savings or for taxes at the end of the year. Try using the $5.34 rule to save small amounts frequently so it can add up and contribute to your future!
Protect yourself from scammers! Fake websites and phone calls and emails are at an all-time high, and they are getting harder and harder to tell from the real thing. Some people have lost tens of thousands of dollars. Don't let it happen to you!
Protect yourself from scammers! Fake websites and phone calls and emails are at an all-time high, and they are getting harder and harder to tell from the real thing. Some people have lost tens of thousands of dollars. Don't let it happen to you!
Canada Child Benefit (CCB) is the topic of much discussion these days. It has been increased by over 6%, but has had some of the thresholds changed. Similarly, there have been some reports of overpayment that the CRA is coming back for.
Do you own a business that sells products or services to customers in other provinces? Did you know that you most likely have to pay taxes there, too? Make sure you don't get caught out this tax season with a bunch of money owing to other provinces.
Interest rates are high and they just keep getting higher. There are rumours that it might start to decrease in a couple of years, but most peoples' mortgages are going to renew before that! Be prepared. Start working now to make sure you have the room in your budget for an extra few hundred dollars a month.
