If you've never owned your own home, this might interest you. How about a great new way to save for your first home? The Government of Canada will soon be offering a new way for you to save money, tax-free, towards your first home purchase. Starting on ...
Holiday spending doesn't have to put you into the poor house! With a plan in place, everyone can have a great holiday season!Here are some ideas to keep your spending in check without breaking the bank.Make a list of the people you HAVE to buy gifts for. ...
Don't get fooled by a scam!It's been a while since I talked about scams but I feel like we may need a reminder.According to Global News, more than 46,000 Canadians were victims of fraud in 2021. Scammers are constantly trying to access your personal information ...
CRA My Business Account - are you registered?A while back, I did a blog about signing up for 'My CRA account'. It is important that all individuals and businesses do this to make it easier for accountants to be authorized on their accounts. The rules ...
It doesn't matter what size business you have, there'll be books to keep. Do you know if you need a bookkeeper or an accountant? Many people don't know the difference. Because the terms have no legislative meaning in Canada, anyone can call themselves ...
Your small business has been growing (or you are just starting) and you could be wondering when you should make the leap... and incorporate it.There are pros and cons to doing this and if you do it too early, it may not be worth it. Now, if your business ...
Do you avoid sending in your taxes? Or, did you somehow, just forget? Here are some good reasons to submit them, even if you're a bit behind.It's not the end of the world that you missed a deadline (or a few!) The Canada Revenue Agency (CRA) is really ...
The pandemic has many people working away from their normal place of business. If you are using your home as a temporary work space, you may qualify for a flat rate $500 tax deduction on your 2021 return. You will have to meet certain criteria in order ...
Find out how to ensure your RRSP goes to your loved ones.
Monday, January 03, 2022
Do you know what happens to an RRSP when someone dies? You would assume that your investments like RRSPs would go to your spouse after your death. However, you need to ensure this is the case when it comes to the laws in your province.RRSPs that are still ...
Are you registered for the CRA's MyAccount?The Canada Revenue Agency's My Account is a secure portal that lets you view your personal income tax and benefit information, as well as manage your tax affairs online.It's available 21 hours a day, 7 days a ...
