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…
💸 How to Save on Taxes with CRA: Maximize Tax Credits Contribute to Tax-Advantaged Accounts Claim Deductions to Lower Taxable Income Split Income Optimize Investments Small Business Benefits Defer Income Stay Organized Note: Tax rules and credits change annually. Be…