Tax Implications of Leasing or Financing a Car for Business
When it comes to getting a car, the decision of whether to lease or finance can be a daunting one. As an accountant, I understand the importance of this decision and the long-term financial impact it can have. In this blog, I will discuss the tax implications of leasing or financing a car, specifically for […]
The Ultimate Guide to Filing Your Skip The Dishes Taxes in Canada
If you love driving and making people happy with food, you might enjoy working as a skip the dishes driver. It’s a flexible way to earn some extra cash on your own terms. But before you hit the road, you need to be aware of the tax implications of your gig. In this guide, we’ll […]
How to File Taxes for DoorDash Drivers in Canada: A Step-by-Step Guide
Filing taxes as a Doordash driver can be tricky, and it’s easy to feel like you’re stuck in a maze of paperwork and deadlines. But don’t worry, delivery heroes! We’re here to help you with this guide to Doordash taxes, including the forms you need, deductions you can claim, and tips to save money and […]
How to Write-off Business Meal Expenses: CRA Rules Explained
If you’re a small business owner or an employee who travels for work, understanding how to deduct your meal expenses from your taxes can be a bit tricky. However, the Canada Revenue Agency (CRA) has specific rules and limitations that you need to follow. The Canada Revenue Agency (CRA) has specific rules that you must […]
Canada Pension Plan (CPP) Changes for 2024: Contribution Rates and Amounts
Today I want to talk to you about some important changes that are coming to the Canada Pension Plan (CPP) in 2024. If you are working as employee or self-employed in Canada, you should pay attention to these changes because they will affect how much you contribute and how much you can get from CPP […]
Multigenerational Home Renovation Tax Credit (MHRTC): Eligibility, Expenses Explained
The Multigenerational Home Renovation Tax Credit (MHRTC) is a game-changer for homeowners, starting with the 2023 tax year. It’s a refundable tax credit designed to promote multigenerational living by facilitating home renovations that create a self-contained secondary unit. This space allows a senior or an adult who qualifies for the disability tax credit to reside […]
Canadian 2024 Tax Credits and Benefits Payment Dates and Deadlines
The Canada Revenue Agency (CRA) provides a variety of tax credits and benefits to eligible Canadians and credits that can help you with your income, expenses, taxes, and more. These credits or benefits are paid out monthly, quarterly, or annually, depending on the program. But sometimes it can be hard to remember when exactly you’ll […]
Year-End Tax Planning for Small Businesses: Maximize Your Deductions in 2025
As an accountant specializing in small business taxes, I understand the importance of year-end tax planning. It’s a crucial time for entrepreneurs and small business owners like you to review your finances and take advantage of any available tax-saving opportunities. In this blog, I will guide you through the process of year-end tax planning and […]
Top 10 Tax Deductions for Self-Employed in Canada
Being self-employed in Canada comes with its perks, such as the freedom to work on your own terms, set your own schedule, and choose projects that align with your interests. However, it also means taking on more responsibility, including managing your taxes and maximizing your tax write-offs. In this guide, we’ll explore the top 10 […]
Filing Self-Employed Taxes in Canada: Your Guide to CPP, EI, HST & Income Tax
Welcome, fellow entrepreneur! You have taken a bold step by choosing to be self-employed or considering self-employment in Canada. You should be proud of yourself for following your dreams! But before you celebrate, there’s something you need to be aware of: Canadian self-employed taxes. I know, taxes are not the most exciting topic to discuss, […]