Missing deadlines or submitting incorrect information to the CRA can result in significant penalties - whether you're filing personally or on behalf of a business. These penalties apply to information returns, including T4s, T5s and NR4s. Don’t miss out on tax credits you may be eligible for!
Read MoreIf you’ve ever made a mistake on your taxes - missed reporting income, claimed an ineligible expense, or simply forgot to file something - you’re not alone. The Canada Revenue Agency (CRA) understands that errors happen, and that’s why they offer the Voluntary Disclosures Program (VDP) - and starting October 1, 2025, the program is getting a major refresh to make it easier, fairer, and more accessible for Canadians.
Read MoreAs we approach year-end, it’s a great time for corporations to review their financials - especially shareholder loans and debit balances. These accounts can have significant tax implications if not properly managed, and the Canada Revenue Agency (CRA) has specific rules that every business should be aware of.
Read MoreSave time when contacting the CRA! Check real-time call wait times online before dialing to avoid long holds. View updates for personal tax, business, and benefits enquiries. Plan your call and reduce delays—bookmark the CRA contact page for quick access.
Read MoreAccording to Canada Revenue Agency, starting on July 15, 2025, individuals will have to go into their CRA MyAccount and grant us access from within - this update will improve security, efficiency, and user experience.
Read MoreIt’s never too early to start preparing for the next tax season. Staying organized and informed can help you avoid stress and maximize your return!
Read MoreWe’re highlighting some frequently overlooked opportunities for you to save. Let’s make sure every dollar works for you!
Read MoreConsiderations in paying salary versus dividends in a Canadian controlled private corporation
Read MoreThings to consider when choosing between Dividends and Salary when you run small business
Read MoreTips for deducting mileage expenses when you are self employed
Read MoreTop tips for claiming mileage as an employee
Read MorePension income that qualifies for splitting and how to split pension income
Read MoreWhen you are claiming medical expenses, there’s a lot to consider - read this to find out more about deductible medical expenses
Read MoreBeing reviewed by the CRA for medical expenses is no fun. Follow these tips to make sure you get the deduction, and it sticks!
Read MoreEvery once in a while, a solution becomes available that not only makes your life easier, but it also saves you money. The CRA is generally not central to the notion of making your life easier …
Read MoreAre you a business owner and you need to grant access to your CRA accounts? The process to grant access is changing.
Read MoreGuest Blog - Alyssa Strickland
If you’re looking to invest in your long-term financial security and generate monthly income, investing in a rental property is one of the most tried-and-true methods of doing so.
People are saving more than ever and have various Registered Savings Plans (like RRSPs, RIFFs and TFSAs) and other investments (stocks, bonds and real estate). Even the simplest estates are beyond the expertise of someone who is not a professional accountant or lawyer.
Read MoreIf the buyer fails to, or decides not to, submit the deposit, the offer falls apart because the signed contract without the deposit was never a fully executed agreement to begin with. The contract didn't materialize completely by just the two parties signing.
Read MoreSo, you’ve recently been promoted, and you are finally getting that well-deserved raise that you’ve been wanting. Then, somewhere in the depths of your memory, you recall these things called “tax brackets”. Maybe… just maybe, this raise is going to increase your tax burden…
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