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With less than two weeks’ notice before the Federal Budget, there was speculation and apprehension as to what was going to be delivered on April 7th. Some of the apprehension stemmed from the historic spending of the government in the preceding few years, plus there was uncertainty as to what, if any, impact the confidence-and-supply […]
Read MoreIn the past, bare trusts typically did not have any reporting requirements and were disregarded for income tax purposes. The draft legislation, if passed as drafted, imposes new reporting requirements on bare trusts requiring them to file income tax returns.
Read MoreA tax write-off is a business expense approved by the Canada Revenue Agency (CRA) that ultimately lowers your taxable income. In other words, it’s a tax deduction. Here are a few overlooked write-offs for businesses.
Read MoreWhen you’re focused on businesses successes and challenges, taxes can easily slip your memory. It’s easy to forget to stay organized and prepared for the tax year-end, especially for small businesses without an established payroll department. We complied the top do’s and don’ts to help you prep for your business’ filing. DO: Keep track of […]
Read MoreOne of the most common questions put to tax professionals is: What’s coming next? Usually, this question is answered by a quip about crystal balls or some general theorizing about the current Government’s goals and the tools it may invoke to achieve them. However, on December 16, 2021, Prime Minister Justin Trudeau helpfully laid out […]
Read MoreNewest update: Canadian Standards are changing the well-known “Notice to Reader” financial statement. Section 9200, which is the current standard for Compilation Engagements, has been in effect since 1987. That’s 34 years without significant change in an industry of ever-changing and evolving standards! Why now? Simply put, there is a gap in how the statements […]
Read MoreA new year means new tax information! The Canada Revenue Agency (CRA) can make adjustments to how you file, so it’s important to stay top-of-mind of any changes to make sure you’re filing your taxes properly and getting the best return! Here are some general changes across Canada: As a general statement, anyone making over […]
Read MoreWhen looking at the future, investing your money can set you up for success in the long run. Investing money allows it to grow over a period of time, and if you’re investing in stocks, you decide when the right time is to pull your investment. If you’re reading this, you’re likely brand new to investing. If so, congratulations! Try not to get overwhelmed — though we know investing can be scary. You don’t want to make […]
Read MoreIt’s that time of year — when the temperature drops, the shelves become stacked with golds, silvers, greens and reds, and your staff grab the boxes stuffed deep in storage. It’s the holiday season! With the landscape of the ever-changing pandemic, businesses may be opting out of the holiday office party altogether, or perhaps the […]
Read MoreWith our digital landscape, cryptocurrencies continue to be a trending topic, acting as a popular option and investment opportunity for many individuals and businesses alike. For those unfamiliar with the term, cryptocurrency is secure digital money that is separate from government bodies (including banks) that usually works with blockchains. Blockchains act as a database for cryptocurrencies to record transactions. You’ve likely heard of the most popular form of cryptocurrency, Bitcoin, but there are several types of […]
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