Bookkeeping is essential for health professionals, ensuring financial stability, compliance with tax regulations, and efficient practice management. Whether you’re a doctor, dentist, chiropractor, or therapist, maintaining accurate financial records is crucial. Here are the best practices for bookkeeping in the…
Selling an income property can be a lucrative decision, but it also comes with potential tax liabilities—most notably, capital gains tax. Understanding how to Reduce your capital gains exposure can help you keep more of your profits. Here are some…
Receiving an audit letter from the Canada Revenue Agency (CRA) can be unsettling, but it’s important to remember that audits are a standard part of the tax process and don’t necessarily imply that you’ve done anything wrong. The CRA conducts…
If you’ve received a notice from the Canada Revenue Agency (CRA) stating that you owe taxes and are being placed under collections, it can be stressful and overwhelming. However, it’s important to remember that you have options and there are…
Life happens, and sometimes, filing taxes can slip through the cracks. Whether it’s due to personal challenges, financial hardships, or simply forgetting, you might find yourself in a situation where you haven’t filed your taxes in several years. While it…
For Canadian accountants, staying updated with tax terminology and regulations is crucial for providing accurate advice to clients. One pair of terms that often comes up in corporate taxation are NerdToH and RDtoH. These concepts, though somewhat technical, are vital…
Starting a new business is an exciting journey, but it can also feel overwhelming with all the administrative tasks and legal requirements. That’s where we come in! Our Small Business Startup Package, priced at just $1499, is designed to make…
To avoid triggering a CRA audit when reporting income and expenses for rental properties, it’s essential to follow best practices for accurate reporting, proper documentation, and adherence to CRA guidelines. Here’s how you can reduce your risk: 1. Report All Rental Income…
To avoid triggering a Canada Revenue Agency (CRA) audit when claiming meals and entertainment expenses, it’s essential to ensure that your claims are legitimate, well-documented, and within the CRA’s guidelines. Here are some tips: 1. Understand CRA Rules for Meals and Entertainment…
Tax season is here, and we understand how overwhelming it can feel. But with the right help, you can save time, avoid costly errors, and maximize your refund. At our small boutique CPA firm, we specialize in making personal tax…