Common Canadian Tax Mistakes to Avoid in 2025 Season
Tax season in Canada can feel overwhelming, with countless rules and regulations waiting to trip you up. Whether you’re a self-employed contractor or a salaried employee, even small missteps can mean missed refunds or costly penalties. But here’s the good news: filing your taxes doesn’t have to be stressful! With the right approach and a […]
Year-End Bookkeeping Tips for Canadian Contractors and Self-Employed Professionals
As the 2024 year wraps up, Canadian contractors and self-employed professionals are entering a pivotal time to get their financials in order for tax season. But don’t let the looming deadlines cause you stress! Effective year-end bookkeeping is more than just a chore—it’s a strategic play that can save you money, simplify your tax filing, […]
Lease vs. Finance an Uber Car in Canada: Which is Better for Tax Savings
When it comes to your Uber vehicle in Canada, the decision to lease or finance goes beyond just monthly payments. It’s a strategic move that can affect your tax deductions and overall ownership costs. Think of it as making a smart financial play where each choice impacts your savings. So, which option suits your needs? […]
An Independent Contractor’s Guide to Business Structures in Canada
As an independent contractor in Canada, the choice of business structure can feel overwhelming, but it’s one of the most important decisions you’ll make for your business. Whether you’re just starting out or looking to grow, your business structure directly impacts your taxes, liability, and long-term success. Choosing the right structure can help you save […]
Top 10 Tax Deductions Every Electrician in Canada Should Claim
As an electrician in Canada, you know that every dollar counts! Did you know that many electricians, whether sole proprietors or incorporated contractors, miss out on valuable tax deductions simply due to a lack of awareness? Maximizing these deductions can significantly boost your overall profitability. In this guide, we’ll break down the most beneficial tax […]
2025 Canadian Tax Changes: New Brackets, CPP, RRSP, and TFSA Limits
The Canada Revenue Agency (CRA) has rolled out its 2025 updates, bringing changes to tax brackets, contribution limits, and benefit thresholds that will impact Canadians from every walk of life—whether you’re an employee, self-employed, or planning for retirement. These CRA updates aren’t just numbers—they’re opportunities. Opportunities to plan smarter, save more, and ensure your financial […]
Step-by-Step Guide to Getting a PTC License for Uber in Toronto
Starting a ridesharing business like Uber in Toronto requires obtaining the proper licenses and permits. One of the key requirements is obtaining a PTC (Private Transportation Company) license. In this comprehensive blog post, we’ll guide you through the process of getting a PTC license to operate your Uber business in the city of Toronto. PTC […]
2024 Income Tax Obligations for Rideshare and Delivery Drivers in Canada: Key CRA Updates
As Canada’s platform economy continues to thrive, rideshare and delivery services like Uber, Lyft, UberEats, SkipTheDishes, and DoorDash are creating exciting income opportunities for self-employed individuals. However, with these opportunities come unique tax obligations that every driver must navigate. As we approach the 2025 tax season, it’s essential for Canadian rideshare and delivery drivers to […]
New Canada Disability Benefit: Eligibility, Payments, and Application Guide
The recently announced Canada Disability Benefit (CDB) is a new support program aimed at enhancing the financial well-being of low-income Canadians with disabilities. Expected to roll out in 2025, this benefit is designed to provide essential financial assistance to working-age individuals who meet specific criteria. Here’s what you need to know to help yourself or […]
Your Guide to Filing Taxes as an Incorporated Contractor in Canada
As an incorporated contractor in Canada, you have a unique set of tax obligations that require careful attention. Whether you’re a freelancer, consultant, or small business owner, understanding the ins and outs of corporate tax filings and GST/HST reporting is essential for staying compliant and maximizing your financial well-being. This guide will break down the […]