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April 2, 2014

Common-Law Relationships – Impact on Filing your Taxes

By |2017-01-02T20:23:16-07:00April 2nd, 2014|Personal Taxation|

Common-Law relationships are common in today's society. Unfortunately, many people do not know that they have an obligation to inform the Canada Revenue Agency of this change in their marital status. In CRA's view, you become common-law with someone when the following happens: You are involved with a person who is not your spouse, with whom you are living in a conjugal relationship, and to whom at least one of the following situations applies. He or she: has been living with you in a [...]

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January 17, 2014

Staff meals and social events – What you need to know

By |2017-01-02T20:23:16-07:00January 17th, 2014|Bookkeeping, Business Management, Corporate Taxation, Payroll and Taxable Benefits|

Alot of people ask me about whether or not they can write off in full their Christmas parties or other social events thrown for their employees. In short, the answer is yes. In general, all meals and entertainment provided, whether they are for clients, subcontractors, or employees, are 50% deductible. However, there are certain exceptions to this rule. There are about 8 other special situations this could apply but for this posting we will just talk about your employees and [...]

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Self-Employed? You can still get access to some Employment Insurance (EI) benefits.

By |2017-01-02T20:23:16-07:00January 3rd, 2014|Business Management, Payroll and Taxable Benefits|

Many people think that because they are self-employed, that they cannot access any EI benefits. However, recent changes made by the government has allowed these types of individuals some access to EI benefits. In order to qualify, you must first assess whether you are self-employed or not and whether any of the benefits listed to you is of interest. For some people, this may be a good option. For example, if you operate a company by yourself and you become [...]

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December 18, 2013

Get your business online

By |2017-01-02T20:23:16-07:00December 18th, 2013|Business Management|

One of the first question's I ask to my client's when they are looking to get more revenue streams is whether or not they have an online presence. An online presence is huge in today's world that is full of tablets, iPad's, iPhone's, Android's, Blackberry's, Windows Phones, and other smart technologies. Recent polls suggest that more and more users are using mobile devices as their primary connection to their daily internet needs. So now the attention turns to how do [...]

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May 30, 2013

Taking Advantage of Personal Tax Credits: Part 7

By |2017-01-02T20:23:16-07:00May 30th, 2013|Personal Taxation|

When filing your taxes, there are numerous personal tax credits available that will help you offset the federal (and sometimes provincial) taxes owing on your tax return. We previously discussed how tax credits affect your balance owing. In this posting we will be providing you with some relevant information about a few of these tax credits. Please note that technical data below has been taken from the Canada Revenue Agency Website at the following link: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/menu-eng.html Line 330 - Medical [...]

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Taking Advantage of Personal Tax Credits: Part 6

By |2017-01-02T20:23:16-07:00May 30th, 2013|Personal Taxation|

When filing your taxes, there are numerous personal tax credits available that will help you offset the federal (and sometimes provincial) taxes owing on your tax return. We previously discussed how tax credits affect your balance owing. In this posting we will be providing you with some relevant information about a few of these tax credits. Please note that technical data below has been taken from the Canada Revenue Agency Website at the following link: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/menu-eng.html   Line 319 - [...]

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