LATEST TAX TIP ARTICLES

Have you established a limited company to provide long-term services to a single client, hoping to enjoy the low tax rates of a Canadian Private Company (CCPC)? You may have fallen into the "Personal Services Business" trap as defined by the Canada Revenue Agency (CRA). Once classified as such, your company's tax burden and deductible expenses will be severely restricted. What is PSB? You may have already fallen victim to it. Simply put, if you strip away the corporate shell

Avoid CRA Penalties, Interest Charges & Compliance Risks Before It's Too Late Every Year, Thousands of Business Owners Pay Avoidable CRA Penalties A new business owners deadline is exciting. Missing a tax deadline is not good. Many new entrepreneurs focus on sales, marketing, hiring, and growth, but overlook one of the most expensive business risks: Monthly Payroll Remittance Deadlines If your corporation has employees, payroll deductions must be remitted to CRA on time. Payr

Filing taxes can feel like navigating a maze. The rules change every year, forms multiply, and the pressure to get it right is intense. That’s why professional tax services are a game-changer. They take the stress off your shoulders and help you get the most out of your return. Let me walk you through the key benefits of hiring experts for your tax return. Why Choose Professional Tax Services? When you think about tax season, what comes to mind? Stress? Confusion? Hours spent

Many people only realized after March 31 that a slip was missing. Last year, frequent policy changes caused delays in the submission of T-forms from banks, leading many to complain to us that their previous accountants were unreliable and failed to remind them to submit complete T-forms, resulting in the need to submit them retroactively after filing their taxes. Every year when filing taxes, we always remind our clients to prepare their tax information as early as possible a

Tax rate is the percentage of the employee's taxable income that the employer will have withheld on account of the employee's income tax obligations. There is no employer rate or share for income tax deductions.