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Check out our Tax Tips with The Mad Accountant
TTT: The Dreaded Brown Envelopes
Did you know that forgetting to respond to CRA emails or letters is not an excuse to not file your taxes? Unless you can prove that you never received the email or letter, you are on the hook and they will come after you for it. Don't wait! Respond to that brown envelope right away.
TTT: Managing Your Business Income
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!
TTT: CEBA Repayment Closing In
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!