1- Am I considering all deductible expenses when preparing tax returns ? Commission Rebates Car expenses Work-space-in-the-home expenses Meals and entertainment Advertising expenses Office expenses and supplies Tuition courses (tax credit or tax expense) Membership fee (brokerage fee) 2 –What…
Advantages of Incorporation 1- Limited Liability With a corporation, individual shareholders are not responsible for corporate debts or other liabilities. Shareholder can only lose the value of their investments. Without corporation, a sole proprietorship and partnerships put all personal assets…
Renting Principal Residence – Change in use of Principal Residence
Free automatic tax return system promised for simple tax filers: This is a long-overdue change that will result in hassle free tax filing for hundreds of thousands of low- and fixed-income Canadians (on average, 12% of working-age adults in Canada…
Below are key income tax filing and payment deadlines.
Financial statements Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management…