Our Blog
Our blogs and newsletters bring you the latest from our firm, along with expert accounting advice, reminders, and insights to keep your personal and business finances on track.
Blogs
Student Loan Interest
ed & now face the task of repaying your student loans. While this can be distressing, were you aware you can claim your student loan interest as a tax credit on your tax return?
Sole Proprietorship or Incorporation?
You’re starting up a small business & it’s time to decide, do you choose a Sole Proprietorship or Incorporation? Though each option is a valid legal business structure in Canada, your best bet is to look at the pros & cons & decide what works for your business.
The Home Accessibility Tax Credit
Living in our own homes as we age improves our quality of life. By doing so, we maintain our sense of well-being, independence & self-worth. However, to do so it is often necessary to undertake costly renovations to maintain our health & safety. Recognizing this, the federal government created the Home Accessibility Tax Credit (HATC) to help Canadians live in our homes as long as possible
Meals & Entertainment Tax Deduction
As a business owner or sole proprietor, you can claim food, beverage, & entertainment expenses. The catch? These expenses have to be incurred for earning income. If your expenses qualify, then you can take advantage of the Meals & Entertainment Tax Deduction.
Tuition Tax Credit
To reduce taxes, students attending post-secondary institutions can claim the Tuition Tax Credit.
Common Audit Triggers
CRA audits are seldom random. You can reduce your audit risk by knowing some of the common audit triggers the CRA looks for.
Newsletters
September/October 2024 Newsletter
Log your miles; avoid an audit To be reimbursed by your employer or to deduct vehicle expenses for vehicles used for employment duties, the Canada Revenue Agency (CRA) requires an accurate logbook of business travel... To find out more about the CRA requirements for...
August 2024 Newsletter
Canada Disability tax credit changes The government has proposed the Canada Disability Benefit Act designed to commit funding & payments for the Canada Disability Benefit to eligible Canadians starting in July 2025. For details on this, remittance payments &...
July 2024 Newsletter
Big changes for Provincial Corporate Tax returns in 2025 Alberta Corporate Income Tax returns (AT1’s) for taxation years starting after December 31, 2024, will be required to file their provincial returns regardless of if the return is NIL. All corporations that do...
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