Working from home? Keep track of your expenses and ask me how this impacts you at tax time!
https://www.cp24.com/mobile/news/so-you-re-working-from-home-what-does-that-mean-for-your-tax-return-1.4931113
Read Morehttps://www.cp24.com/mobile/news/so-you-re-working-from-home-what-does-that-mean-for-your-tax-return-1.4931113
Read MoreI have been asked about this a lot. Since a family member posted this before I could write about it, see the attached link on how CERB will be handled come tax time in 2021. https://globalnews.ca/news/6831951/cerb-taxable/?fbclid=IwAR3n4pxv2vN_CA5zGE-yuuPng5cFZX4JnO4bBWi39_3DNtX3GZY8X-hDDPQ
Read MoreDid you know that sole proprietors can now be eligible for the 75% wage subsidy if they meet certain criteria? If you would like to learn more, contact me for details!
Read MoreFor anyone not currently set up with CRA for direct deposit, I recommend doing so ASAP, especially if you are expecting Canada Emergency Response Benefit payments. Get them in your hands sooner. This can be done in your CRA account https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html or within online banking of most major banks.
Read More30% decrease in revenue, month compared to prior year to qualify Must apply each month for the subsidy (March, April, May) Subject to maximum amounts. Contact me for details Special rules for non arms length employees Applies to businesses of all sizes Steep penalties for non compliance
Read MoreThe Federal government announced that it will back interest free loans to businesses up to $40,000. $10,000 to be forgiven if certain criteria are met. Details available in coming days.
Read Morehttps://www.ctvnews.ca/health/coronavirus/pm-hikes-wage-subsidy-so-smaller-businesses-come-back-strong-1.4870893?fbclid=IwAR0yuGLpHumL82zl5bjYJAqVYDnp_XpptLMB9mytcNgWkZ6vYqwx4IaB0og
Read MoreDid you sell your principal residence in 2016? If so, you must disclose this within your tax return. Failure to do so can result in a penalty of $100/month to a maximum of $8,000, and a potential capital gains assessment.
Read MoreTeachers… are you aware that as an eligible educator, you can claim up to $1000 of eligible teaching supplies on your 2016 tax return?
Read MoreFor those of you with business income, don’t be fooled by the June 15 filing deadline. If you owe money to CRA, you actually must pay by April 30 to avoid late filing charges!
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