by romzbajalan@gmail.com | Sep 20, 2016 | news, Tax
It’s the beginning of a new school year and your tax deadline isn’t until after exams next semester, there are still some things you need to think about in terms of your taxes. CRA has put out a list of the Top 8 things students need to know at tax time....
by romzbajalan@gmail.com | Sep 19, 2016 | Businesses, news, Tax, Tips
We told you earlier about how to claim meals and entertainment as a business expense. It’s always important to get a receipt in order to claim the deduction on your taxes but CRA has launched a new campaign that gives another good reason to ask for a receipt...
by romzbajalan@gmail.com | Sep 19, 2016 | news
1. A fine is a tax for doing wrong. A tax is a fine for doing well. 2. Where do homeless accountants live? In a tax shelter. 3. Welcome to the accounting department, where everybody counts. 4. What do you call an accountant with an opinion? An auditor. 5. An...
by romzbajalan@gmail.com | Sep 15, 2016 | Businesses, news, Tax, Tips
One of the most misunderstood business deductions is the “meals and entertainment” claim. Either people forget to save their receipts and don’t claim it at all, or they treat their whole party because it’s a business write-off. The basic rule...
by romzbajalan@gmail.com | Sep 14, 2016 | Alberta, news, Tips
One of the key platform points of Rachel Notley’s NDP campaign and sudden rise to power in 2015 was an increase in the provincial minimum wage from $10.20/hour (the lowest rate in the country) to $15.00/hr (the highest of any jurisdiction in Canada). Immediately...
by romzbajalan@gmail.com | Sep 13, 2016 | Businesses, GST, news, Tax, Tips
You are putting in the long hours and starting to feel a bit burned out. Business is not as usual. You are finding it a struggle to keep up with all the business expenses not to mention the upcoming tax bill around the corner. Pretending there is no problem does...
by romzbajalan@gmail.com | Sep 12, 2016 | Articles, Businesses, news, Resources, Tips
If your job involves a lot of driving, there are significant deductions that are available to you. Whether you drive your own personal vehicle for work or your corporation owns a car that you use, it’s important to keep track of the kilometres you drive for...
by romzbajalan@gmail.com | Sep 12, 2016 | Businesses, news, Tax, Tips
By far, the most common question we get from business owners is “Should I pay myself dividends or wages?” Unfortunately, the answer is different for everyone. The first thing we recommend is to try to minimize the amount of money you draw out in the first...
by romzbajalan@gmail.com | Sep 12, 2016 | Articles, Businesses, news, Tax, Tips
Who wants to pay less tax? The best reason to incorporate your business is to save taxes. In Alberta right now, the highest personal marginal tax rate is 48% while the small business corporate tax rate is 13.5% and is set to be reduced to 12.5% in 2017. So, this means...
by romzbajalan@gmail.com | Sep 12, 2016 | Businesses, news, Tax, Tips
Do you believe in second chances? The CRA does to a certain extent. According to the CRA, the amount of previously unreported income in 2013-2014 was $813 million – over 14,000 cases. Find out below if you qualify for CRA’s voluntary disclosures program....
