Last updated: Jul. 2, 2014 
If you own a business you must consider not only the details of your personal finances, but also the financial and income tax considerations that arise from your business. Meeting Business Obligations upon Death For most deciding how much life insurance coverage you need can be determined by a simple formula: … Read more

Last updated: Jun. 18, 2014 
There are CRA hot buttons that are red flags for a tax audit. However, you and your tax specialist could also be completely above board and follow every rule in the Income Tax Act and CRA could still contact you for an audit. Tax audits can be random or triggered by … Read more

Last updated: Jun. 4, 2014 
If one thing is for certain it’s that small business owners don’t mind saving money. After all, when you’re running your own shop, every cent counts. While some expenditures are absolutely vital to success, there are plenty of areas in which small business owners can cinch the belt. Here are 5 … Read more

Last updated: May. 14, 2014 
Has CRA come calling? You may have been chosen by CRA for a tax audit because certain expenses look high or your reported income seems too low. It could just be the industry you are in is a target or perhaps CRA is auditing a friend, family member or supplier and … Read more

Last updated: May. 7, 2014 

April 30 is behind you. You filed your business taxes. It sucked… but you got through it. Go ahead: Big exhale. Now let’s make sure you won’t have to go through the same chaos, stress, and anxiety when tax season rolls around next year. Instead of playing the “out … Read more

Last updated: Apr. 30, 2014 
It’s April 30 and tax season is coming to an end. Did you make it? There is a short reprieve this year due to a system outage at Canada Revenue Agency resulting in an extension to May 5. If you’re worried about a large tax amount owing it’s still better to … Read more

Last updated: Apr. 23, 2014 
The deadline for individual tax returns for 2013 taxes is now May 5, 2014. The Canada Revenue Agency (CRA) extended the tax filing deadline 5 days to compensate for down time from the Heartbleed bug. CRA had turned off online services, including e-filing, due to security concerns related to the … Read more

Last updated: Apr. 9, 2014 
Hindsight is 20/20, so they say. Most small business owners can agree with that, particularly on the small business accounting front. Ask any small business owner what they wish they knew about accounting before they started their venture and you’ll feel like a young swab hunkering down over beers with a … Read more