How Long Will We Have to File Taxes Together After a Divorce?
Divorces can be messy and will impact different aspects of your life. One area that will change is your tax filing status. Each person’s tax status is determined by their marital status at the end of the calendar year. If you were separated but still married at the end of last year, you will still […]
Tax Credits and Their Impact
The cost of living is steadily rising, and the government wants to ensure Canadians are not struggling to make ends meet. To help with this, the CRA provides numerous tax credits that lower personal taxes for individuals. However, many wonder if these personal tax exemptions are linked to inflation in Canada. In Canada, the largest […]
Is an Income Tax Review the Same as a Tax Audit?
For many Canadian citizens, submitting their taxes is an annual process that is dreaded and seen as a necessary evil. After taking the time to fill out paperwork and ensuring everything is accurate, the last thing you want is for the government to come knocking on your door for a review or audit, but it […]
Should I Put My Home in My Son’s Name?
Parents and guardians often want to pass on an inheritance, but the process can be quite tricky. Because of title complications and potential divorce or bankruptcy problems, some parents are putting their assets at risk when they put their home in their son or daughter’s name. What Are the Risks of Putting Your Home in […]
A Readiness List for GST Season
Filing a GST payment does not have to be stressful. Staying organized and keeping receipts will make the process manageable. Unfortunately, many Canadian business owners are not ready for the GST season. This lack of preparation can result in unnecessary tax penalties and stress. With the GST season fast approaching, our team has created a […]
Can Paying An Accountant Actually Save Me Money?
Everyone knows the old adage, “you’ve got to spend money to make money.” Well, it also applies to hiring an accountant, but perhaps it’s better phrased as “you’ve got to spend money to find money.” There are lots of reasons why hiring an accountant might net you more money in the long run. Trust The […]
