Student Loan Interest

Student Loan Interest

You graduated & 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? Claiming the Student Loan Interest Tax Credit You can use this...
Sole Proprietorship or Incorporation?

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...
Meals & Entertainment Tax Deduction

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....
Common Audit Triggers

Common Audit Triggers

The Canada Revenue Agency (CRA) typically sends out about 30,000 letters a year letting Canadians know they are being audited. While that is only 0.1% of the tax paying population, you may be wondering what to do if it happens to you. CRA audits are seldom random....
Is it Really the Canada Revenue Agency Contacting You?

Is it Really the Canada Revenue Agency Contacting You?

One of the most common problems we face in our connected world today is scammers. They are constantly invading our privacy by pretending to be legitimate agencies. As a result, we are either scammed out of something or are refusing to engage with real agencies such as...