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, […]
Underused Housing Tax (UHT) in Canada: A Guide for Property Owners
Ever heard of the Underused Housing Tax (UHT) in Canada? This relatively new tax, introduced in January 2022, aims to encourage property owners to either rent out or sell their homes, thereby increasing the availability of affordable housing across the country. If you own a residential property, it’s essential to understand how the UHT may […]
CRA Inquiry Guide: When to Contact the CRA for Quick Responses
Understanding Canadian tax laws and regulations can be complex. Therefore, the CRA has established services to help individuals and businesses seeking clarification on various tax-related matters. Whether you are an individual tax filer or a business tax filer, the CRA offers dedicated services to address your specific needs. Welcome to our friendly guide, where we […]
A Guide to Applying for Canadian Tax Credits and Benefits for 2024/2025
Tax credits in Canada can act like financial discounts that significantly reduce your tax bill. They come in various forms and provide valuable financial support. As an accountant, I’ve seen how these credits can impact individuals and families. Staying informed about the available tax credits and understanding how to leverage them can optimize your tax […]
How to File Taxes and HST for UberEats Drivers in Canada
If you’re a driver for one of the popular food delivery apps in Canada, such as Uber Eats, DoorDash, SkipTheDishes, Instacart, or Corner Shop, you might be wondering how to handle your taxes. After all, delivering food is not a typical job with a regular paycheck and a T4 slip. You are considered a self-employed […]
How to File Taxes and HST for Uber Drivers in Canada
Starting a career as a ride-share driver in Canada, whether with Uber, Lyft, or any other ride-sharing app, can be both rewarding and challenging. However, you also need to be aware of the tax implications of being a ride-share driver. Unlike regular employees, you are considered self-employed and have to report your income and expenses […]
How to Fill TD1 Form (2023): Personal Tax Credits Return
What is the TD1 form? The TD1 form is a tax form that allows employees to tell their employers how much tax they want to have deducted from their paycheque. The amount of tax that is deducted from an employee’s paycheque is based on their personal information, such as their marital status, their age, and […]