A side business like renting out a room or home through Airbnb or driving for a ride-hailing service like Uber can bring in some much needed extra income. However, when tax season comes around, it is essential to report this additional income.
The Canada Revenue Agency monitors social media posts of Canadian taxpayers who could be cheating on their taxes. The agency now focuses on collecting and analyzing many kinds of data for its use, including information publically available online.
The culture of tipping at restaurants has been prevalent for a long while, customers tip their servers based on how satisfied they are after that meal.But how do restaurants deal with tips in their taxes? There are actually two ways a restaurant can deal with the tips the staff make.
Have you spend time wondering whether to choose between TFSA vs RRSP? Now is the time to analyse your needs and decide.
We all know how crucial yet exhausting it is to file taxes each year on time. No one wants to do it!
If you and your significant other have shared a home address for 12 months or have a child together, then you should prepare and file your taxes together.
Hiring an accountant to work alongside his lawyer to structure the deal was a good investment and while the price of hiring professionals to handle the sale was high, It was the best decision he feels.
Many medical services, therapies and devices can qualify for the medical tax credit and are permitted medical expenses under the Canada Revenue Agency. Here are ten that could surprise you.
When an outsider reviews your documented processes, the procedure can highlight failure points or weaknesses that you may have to consider.
According to various reports online, Montreal is the new housing hotspot for Chinese buyers as Toronto and Vancouver levies foreign buyer tax.