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Soon it will be time to file your business income tax return. Whether you are self-employed or have a corporation, it is important to get organized in advance by either preparing it yourself or having an income tax specialist prepare it for you. If you are a business, you must file an annual business income tax return. The type you file depends upon the structure of your business. Those who are self-employed sole proprietorship or partnership business owners must report their

With the onset of the COVID – 19 pandemic, numerous employers opted to allow their employees to work from home. Now that the restrictions have ended, some employers are offering their employees the opportunity to continue to work from home or in other cases offering a hybrid version that includes a certain number of days each week working in the office and the remainder working from home. There are important challenges tied to this type of working model, and so there are admi

A CRA review is not a tax audit. The biggest difference between a tax review and a tax audit is that a tax review may be completed in a matter of weeks, but an audit can take months or even years to complete. A tax review is simply a routine check to ensure that the information that you have provided on your income tax return is correct. CRA can contact you for additional information with a letter or a telephone call. We want to assure you that individuals are less likely to

While doing their income tax, individuals and businesses often forget to claim deductions that could really benefit them and that might significantly assist in reducing the amount of income tax that they ultimately pay. If you are filing your personal income tax or your business income tax, you will need documentation to support the statements that you make in relation to your income tax submission. If you are or are responsible for any of the following, you will need to incl