Articles

So you’ve just found out that you’re going to be audited by the CRA: now what? Your first step, of course, should be to investigate your options for audit representation, as there’s nothing as effective as professional help when it comes to helping out with the federal government’s tax regulations. Still, even if you’re able … Read more

As you likely already know, there are a lot of different steps and procedures that go into a CRA audit. There are many things to be aware of should you receive a letter from CRA announcing an audit of your business, but the most important thing you should do is request the services of a … Read more

You may have owed taxes in the past and not filed or not reported all of your income. This may put you in a state of unease worrying about how you can make things right. As your business or situation improves you may be in a position where you’re owed tax credits or refunds but … Read more

Most farm owners and small business owners have assets like goodwill tied up in their businesses. Some might also have licenses, customer lists, franchises, farm quotas or distribution rights. On January 1, 2017, the federal government introduced draft legislation that will directly affect these assets, a new class of assets called the Class 14.1 pool. … Read more

Many taxpayers view their annual filing as a stressful exercise and feel great relief when the job is done.
 Some people choose to avoid the task. 
 The Canada Revenue Agency says, 10 to 15% of the country’s total population do not file a tax return each year. That amounts to a substantial number of … Read more

As a small business owner you’re faced with many decisions and expenses to keep your business alive and growing. You may be used to wearing many hats to save money, but sometimes it doesn’t hurt to call in the experts.   Even though you own a set of pliers, you’re still likely to go see … Read more

Share cropping is not as common as it used to be, but it is still a popular arrangement between landowners and renters.
 Much depends on the landlord’s involvement in the production process when paying tax on the proceeds from this type of rental agreement.
 This helps determine if the revenue should be taxed as rent … Read more

Millions of Canadian small business owners may not yet be thinking about their annual tax filings, with April 30 so far away. However, the end of the year is often the best time to start planning for how they’re going to handle this crucial financial step. Once they do, though, it’s important for those entrepreneurs … Read more

As a small business owner, you need to spend as much time as possible analyzing and optimizing your tax return. You don’t want to miss out on a single potential deduction, after all – every dollar that you could have saved, but failed to, is a dollar that your business might need in the future. … Read more

Do you feel like 2016 is going to be a great year for your business, one where you’ll reach your goals? Hope always springs eternal when Jan. 1 comes around, and this year is no different. However, many Canadians aren’t as optimistic about reaching their goals as they’ve been in the past. At least according … Read more