By Liz O'Dowd on October 20, 2016 
Leave a comment
Corporations that own specified foreign property over $100,000 can now Efile Form T1135 online Did you know? Starting May 16 2016, corporations that own specified foreign property over $100,000 can Efile Form T1135, Foreign Income Verification Statement, electronically for the… {Read more}
By Liz O'Dowd on October 17, 2016 Leave a comment
Salaries paid to a family member. When deciding as to whether a salary should be paid to a family member, or more specifically to ones spouse, numerous questions arise. On one side, there is the question of the risk involved… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
Is DIY Bookkeeping Causing Your Small Business Problems? Throughout the course of running your small business, you’re going to encounter some problems, both big and small. When you consider that approximately eight out of 10 businesses fail within their first… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
Does your business have tax debt with the Canada Revenue Agency? Don’t panic. You have options. Ignoring your tax debt isn’t the best strategy. Avoiding payment could result in financial and legal consequences for you and your business. The CRA… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
The new tax credit for teachers will help offset personal costs The Honourable Diane Lebouthillier, P.C., M.P., Minister of National Revenue, and the Honourable Kirsty Duncan, P.C., M.P., Minister of Science, marked the beginning of the back to school season… {Read more}
By Liz O'Dowd on October 5, 2016 Leave a comment
What is your hiring strategy? Most business owners know that hiring the right talent is one of the best ways to ensure the company’s success. However, small business hiring budgets tend to be limited, making it necessary for the company to concentrate… {Read more}
By Liz O'Dowd on October 5, 2016 Leave a comment
Managing a seasonal business can be rewarding, but it also presents unique challenges that owners of other types of businesses may not face, especially with regard to their financial situations. Here are five small business finance tips to help your business reach… {Read more}
By Liz O'Dowd on October 5, 2016 Leave a comment
If you own a business, you may have wondered if you should incorporate. Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the… {Read more}
By Liz O'Dowd on March 24, 2016 Leave a comment
Canada Revnue Agency announces winding down of the political activities audit program for charities The Honourable Diane Lebouthillier, P.C., M.P., Minister of National Revenue, today announced the winding down of the review by the Canada Revenue Agency (CRA) of registered… {Read more}
By Liz O'Dowd on December 19, 2015 Leave a comment
The difference between tax deductions & credits and whats eligible. Although there’s a substantial difference between a tax credit and a tax deduction, it’s easy to get the two confused. A tax deduction reduces your taxable income, with the actual… {Read more}