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Welcome to our tips-blog page.
At Naicker and Associates we employ an integrative approach to help clients with their bookkeeping, year-end preparation and tax preparation, plus consulting to help build business value and enable owners to harvest this value when they are ready to live their next adventure.
Our experience has left us with the many tips we share with you in these pages

12 12, 2021

What if I Can’t Pay my Taxes in Canada?

By |2021-12-12T01:34:47+00:00December 12th, 2021|Tip of The Month|0 Comments

Many Canadians are dealing with financial hardships due to Covid-19, and more and more people are struggling to pay their taxes. But what happens if you can’t afford to pay your taxes in Canada? If that is the case, read this guide and consider the three options we suggest. If adjusting your budget won’t help, […]

29 04, 2021

Business Taxes in 2021

By |2021-09-15T22:23:16+00:00April 29th, 2021|Business, resource, Tip of The Month|0 Comments

This year, 2021, will be an unpredictable year for the economy in Canada due to the ongoing pandemic, the limited vaccine supply, and the varying approaches to economic recovery on both provincial and federal levels. Here are some changes to Canadian Business Taxes you can expect in 2021.

Extensions and Deferrals

Currently no official extensions of Corporate […]

20 04, 2021

What Changes Should We Expect in 2021 for BC and Federal Taxes?

By |2021-09-15T22:23:28+00:00April 20th, 2021|Business, resource, Tip of The Month|0 Comments

Canada’s ‘COVID-19 Economic Response Plan’ has provided millions with financial relief throughout 2020. But it may be providing everyone with some extra work come tax time. With that in mind, what changes should we expect to see in 2021 for BC, and federal taxes?

COVID-19 Relief Measures Will Have a Big Impact on Your Taxes

If you […]

8 04, 2021

When Should I File my Corporate Income Taxes in BC?

By |2021-09-15T22:23:38+00:00April 8th, 2021|Business, resource, Tip of The Month|0 Comments

The end of the year is fast approaching and that means that tax season will be starting up shortly after the new year begins. With a new tax year on the horizon, when is the best time to file your corporate income tax?

Ordinarily corporate income tax is due no later than 6 months following the […]

28 03, 2021

Do I Have to Pay a Penalty If I File My Taxes Late?

By |2021-04-08T19:19:08+00:00March 28th, 2021|resource, Tip of The Month|0 Comments

If you have not yet paid your taxes for this year, or a previous year, it’s getting to the point where it is likely going to be costing you a lot of extra money. Now, if you don’t owe the CRA anything, you have a bit of a grace period to file your taxes without […]

23 03, 2020

What Can I Deduct From my Rental Income?

By |2020-07-06T16:23:54+00:00March 23rd, 2020|resource, Tip of The Month|0 Comments

In Canada, in every province there are many things that be deducted from your rental income for tax purposes.

Here is a brief list of things you can deduct followed by a few things you can’t deduct.

What You Can Deduct

1. Interest on your mortgage

If your rental property has a mortgage, you can’t deduct the principal you’re […]

31 05, 2019

Tracking Your Expenses for a Business Trip: Which Receipts Should You Save?

By |2021-09-15T22:24:56+00:00May 31st, 2019|Business, Tip of The Month|0 Comments

Tracking Your Expenses for a Business Trip: Which Receipts Should You Save?


Whether you are on business trips every week, or are about to embark on your first trip ever, one of the most common question is which receipts to save when tracking your business expenses. When doing business taxes, there are many write-offs available to […]

8 02, 2019

Tips for Organizing Business Expenses

By |2021-09-15T22:25:55+00:00February 8th, 2019|Business, Tip of The Month|0 Comments

One of the most important ideas to keeping your small business successfully organized is by laying a strong foundation right from the beginning. It is most beneficial to start a plan right from the beginning and stick with it – don’t leave receipts out to be organized at a later date.


Fortunately, there are a number […]

16 07, 2018

Tips on tracking business expenses

By |2021-09-15T22:26:29+00:00July 16th, 2018|Business, Tip of The Month|0 Comments

Even though tax season is a distant memory, business owners all over the Lower Mainland should be saying the same thing: “I need to start tracking my business expenses better than last year.”

If you’ve ever lost a business receipt, or spent far too much time trying to track down your credit card charges, here are […]

26 08, 2016

Planning Ahead for Retirement

By |2019-11-14T04:54:48+00:00August 26th, 2016|Tip of The Month|0 Comments

planning for retirementIt’s never too early to start planning for retirement. Transitioning from working to retirement takes careful planning and preparation. Planning ahead for your future will enable you to take control and feel at ease knowing that you are working towards an […]