Tax Tip Thursdays with The Mad Accountant on 105.5 HITS FM
We are on the radio every Thursday morning at 8:10, with Morning Den host Dan Pollard, giving YOU our latest tax tips. You can listen to highlights and full episodes below, and even engage in discussion with us using the blog posts at the bottom of the page. Hear something you like? Please don’t hesitate to give us a call.
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TTT: CERB & CEBA Updates
I promise, this is the last post about CERB & CEBA. After this, I'll retire the topic. But, I've been getting a lot of questions about it lately as the loans come due. Make sure you're paying back what you owe -- not a penny less and not a penny more!
TTT: New Year, More Taxes?
New Year, More Taxes? 2024 is going to be a complicated one with all its changes. Make sure you're tracking it, otherwise you could be in for a nasty surprise!
TTT: Small Business End of Year Tax Preparation
'Tis the season! The season for end-of-year tax preparation for small businesses. It's important not to get behind on this -- start today!
TTT: Federal Tax Increases
The tax numbers for 2024 are in and inflation has pushed them substantially higher. On top of that, there are changes to almost every other aspect from CPP, TFSAs, RRSPs, and the new Alternative Minimum Tax (AMT). Are you ready for 2024 tax season?
TTT: Personal Services Business (PSB)
Do you have a corporation that only serves one client? Be careful how you file your taxes! The CRA is cracking down on Personal Service Businesses big-time and the costs can be huge.
TTT: CERB Repayment and Short-Term Rentals
Guess what? The CRA actually admitted they were wrong about part of CEBA! They were not clear about eligibility near the start for small businesses, and are giving people a break if they were fooled by this. But make sure you get it right! Not everyone is getting a break!
TTT: CEBA, CERB, and CEWS
Deadlines are coming for CEBA loan repayments and the CRA is on a rampage going after people who may not have been eligible for the grants they took. Lots of audits are happening, and it can be hard to navigate!
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.