Unsurprisingly, tax season in Canada is a rather daunting time of the year, as there are so many rules and regulations that one can easily get lost. Whether you work
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
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
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
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
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
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
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
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
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
As globalization increasingly impacts our economy, knowing how to report income earned outside Canada is essential for all residents. Whether you’re an expatriate, a frequent traveler, or earning from international
In today’s interconnected world, it’s not uncommon for Canadians to find themselves living or working abroad. But what happens when life throws you a curveball and you need to rely
Are you ready to turn your dream of homeownership into reality? With a First Home Savings Account (FHSA), you can start saving for that perfect home while enjoying fantastic tax
As rideshare driving in Canada continues to grow, so do the tax obligations for drivers working with services like Uber, Lyft, or Uride. Whether you’re a part-time driver balancing other
Did you know that incorrect GST/HST filing can result in costly penalties and fines for Canadian small businesses? Understanding GST/HST is important, whether you’re self-employed, an independent contractor, or or
As a contractor, you know the daily challenges of managing your business. As your client base expands and your income rises, you might be asking yourself: is it time to
The T4A form, also known as the “Statement of Pension, Retirement, Annuity, and Other Income,” is a crucial tax document in Canada. This form is used to report various forms
As a small business owner, one of the most pressing questions you may encounter is how to pay yourself from your corporation. You can choose between paying yourself a salary
With more Canadians becoming Uber drivers, many wonder about their tax obligations and how to manage them. This guide provides an overview of what you need to know about filing
Understanding the Canada Revenue Agency’s (CRA) contact methods is crucial for Canadian taxpayers. The CRA uses a range of channels to interact with individuals regarding tax matters and benefit programs.
Bookkeeping is the backbone of financial management for any corporation, and it becomes even more critical for Canadian corporations due to complex tax laws and regulations. Proper bookkeeping not only
The journey to homeownership is a significant milestone filled with excitement, planning, and important financial decisions. For many Canadians, the dream of purchasing their first home is now more attainable
Welcome to the savvy world of tax planning, where every penny saved is a penny earned, especially for independent contractor in Canada. As we navigate through the fiscal year of
The Registered Retirement Savings Plan (RRSP) is a cornerstone of retirement planning for Canadians, offering tax advantages to save for the future. However, understanding and adhering to RRSP contribution limits
Receiving a letter from the Canada Revenue Agency (CRA) requesting information about your world income can be unsettling, especially for newcomers to Canada. However, this process is a standard procedure
As a self-employed individual, you can claim business-related vehicle expenses and cut down on your owed tax. If you’re using your personal vehicle to earn your business income then you’re
The Canada Carbon Rebate program serves as a groundbreaking solution to address the ever-growing concerns of carbon emissions and their impact on the environment. As a small business owner, understanding
The Canadian government recently announced changes to the capital gains tax system as part of its commitment to creating a fairer tax environment. These changes, which came into effect on
The Canada Revenue Agency (CRA) ensures the smooth operation of the tax system. Part of this process involves collecting taxes throughout the year, rather than just a lump sum at
Navigating the world of tax deductions can be tricky, especially when it comes to understanding which expenses qualify and how to properly claim them. Claiming your cell phone expenses in
In today’s digital world, the Canada Revenue Agency (CRA) offers a variety of online tools and services designed to simplify tax management for Canadians. These user-friendly resources not only save
Juggling multiple projects, chasing invoices, and keeping track of income are all part of the exciting, yet sometimes chaotic, world of self-employment. But one thing shouldn’t add to the stress:
Paying your taxes online to the Canada Revenue Agency (CRA) is a straightforward process that can save you time and the hassle of paper filings. Whether you need to handle
In today’s gig economy, services like Uber provide Canadians with a flexible way to earn income. However, this flexibility necessitates a high level of responsibility, particularly in tax matters. Understanding
Corporate taxation in Canada is a complex yet crucial aspect of running a business. Having a good understanding of the tax system can bring significant financial benefits and ensure compliance
The Underused Housing Tax (UHT), introduced in 2022, aims to address vacant or underused residential properties in Canada. With the April 30th deadline approaching, it’s crucial for property owners to
Ever wondered why your paycheck isn’t quite what you expected? In Canada, employers withhold certain amounts from your earnings to go towards taxes and social programs. Understanding these deductions is
When it comes to real estate and taxes in Canada, the rules can seem daunting, especially when you’re faced with a situation you haven’t navigated before. For instance, what happens
The Canadian Federal Budget for 2024 has been released, and outlines a variety of proposed tax changes impacting individuals and businesses. While the details are still being finalized, this blog
If you are a Canadian business owner, you may wonder if you need to collect the goods and services tax (GST) or the harmonized sales tax (HST) from your customers.
Living with a physical or mental impairment can incur significant extra costs. The Canadian government recognizes these challenges and offers the Disability Tax Credit (DTC) to provide some financial relief.
If you’re working as a rideshare driver for Uber, Lyft, Uride, or doing food delivery through platforms like Uber Eats, DoorDash, or SkipTheDishes, it’s essential to navigate the world of
Navigating the world of tax deductions can be daunting, but as a parent in Canada, understanding how to claim child care expenses can significantly impact your tax return. In this
Tax season can be overwhelming, especially when it comes to understanding your Uber Tax Summary as a Canadian driver. But fear not! This guide will break down your Uber Tax
Taxes can be confusing, especially when it comes to understanding the benefits you’re entitled to. But here’s some good news! The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is
CRA audits can be a major source of stress for Canadian taxpayers, including Uber rideshare drivers. However, with proper preparation and understanding, you can handle them confidently. Knowing the common
If you’re an Uber driver in Canada, handling HST (Harmonized Sales Tax) for your income is a big responsibility, but we’re here to help you understand it. HST is a
Uber, Lyft, DoorDash and other food delivery drivers in Toronto, Vancouver and across Canada joined a global strike on February 14, 2024, to demand fair wage and better working conditions.
Moving to a new place can be exciting, but also expensive. Fortunately, you might be able to save some money on your taxes by deducting your moving expenses. This is
In today’s fast-paced world, convenience is key, and Instacart has emerged as a game-changer in the grocery delivery industry. With its user-friendly platform and efficient services, it’s no wonder that
If you’re a Canadian taxpayer, you probably know that filing your tax return is not the final step in your tax obligations. After you submit your return, the Canada Revenue
The tax system in Canada is constantly evolving to reflect the economic and social realities of the country. As a Canadian taxpayer, it is important to stay informed of the
Real estate investing can be a great way to build wealth and achieve your financial goals. But what if you don’t have enough money to buy a property on your
As a new resident of Canada, navigating the tax system is essential not only for fulfilling your financial responsibilities but also for accessing various benefits and credits that can support
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
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
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
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
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
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
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
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
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.
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
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
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
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
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
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
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.
Many Uber drivers in Canada don’t know how to file their taxes correctly. They might lose money or get in trouble with the CRA because of errors or missing information.
Toronto has a lot of real estate agents (mostly part timers, self-employed). Most of them will be confused about filing their taxes. The biggest question is, what expenses can a realtor claim as tax deductions in Canada? Here’s a list to help you out.