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taxes

Keeping Your Side Hustle on the Right Side of the Taxman

March 5, 2021March 5, 2021 by mvadmin
Side gig title

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.

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Categories Lifestyle Tags Airbnb, taxes, Uber

Canadian Tax Evaders Monitored on Social Media

February 22, 2021February 22, 2021 by mvadmin
Social Media

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.

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Categories Canadian Business Tags CRA, social media, taxes

Tax Tips: Restaurants Should Not Treat Tips as Income

January 28, 2021January 28, 2021 by mvadmin
Canadian coins

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.

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Categories Canadian Business Tags employees, hospitality, taxes

TFSA vs RRSP, Which Should You Choose?

January 26, 2021January 25, 2021 by mvadmin
tax seasion

Have you spend time wondering whether to choose between TFSA vs RRSP? Now is the time to analyse your needs and decide.

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Categories Lifestyle Tags RRSP, taxes, TFSA

How to File Previous Years’ Tax Returns in Canada

November 11, 2020November 10, 2020 by mvadmin
filing a tax return in Canada

We all know how crucial yet exhausting it is to file taxes each year on time. No one wants to do it!

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Categories Lifestyle Tags accountants, taxes, tips

Millennial’s Tax Plan: Filing Taxes Together?

November 5, 2020October 13, 2020 by mvadmin

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.

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Categories Lifestyle Tags Accounting, millennials, taxes

Exiting a Small Business With a Smart Tax Strategy

November 15, 2020September 30, 2020 by mvadmin
preparing taxes

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.

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Categories Entrepreneurship Tags Accounting, small business, taxes

10 Expenses You Can Claim Medical Tax Credit for in Canada

February 23, 2020February 23, 2020 by mvadmin
preparing taxes

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.

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Categories Uncategorized Tags health, small business, taxes

How To Prepare For An Internal Audit

February 11, 2020 by mvadmin
doing tax audit

When an outsider reviews your documented processes, the procedure can highlight failure points or weaknesses that you may have to consider.

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Categories Uncategorized Tags audit, taxes

Montreal Is the New Housing Hotspot for Chinese Buyers

January 28, 2020January 27, 2020 by mvadmin
Montreal

According to various reports online, Montreal is the new housing hotspot for Chinese buyers as Toronto and Vancouver levies foreign buyer tax.

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Categories Uncategorized Tags Canada, China, Juwai, Montreal, taxes, Toronto, Vancouver
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