Tax & Accounting Firm​

If you are an employee and choose to use the detailed method to claim home office expenses, you must be aware of what you can and cannot...

Can I deduct my car expenses against my rental property income?

If you have applied and received the first $40K loan (25% forgivable) and/ or the second loan of $20K ($10K forgivable), it is important...

​ Immediate Support for Families with Young Children - The Government proposed to provide, in 2021, four tax-free payments of $300 per...

To calculate the amount of home office expenses you are allowed to claim, you can use the CRA calculator. https://www.canada.ca/en/revenu...

Deemed Disposition When there is a change in use of real estate, either from income-producing to personal-use, or from personal-use to...

Due to the Covid-19 pandemic, employment income reported on 2020 T4 slips will be a bit different in 2020. To validate Covid-19 benefits...

It is important to note that this benefit is a taxable benefit and CRA did not withhold taxes at source, which means that you will be...

The Canada Revenue Agency (CRA) has made the home office expenses deduction available to more Canadians and simplified the way in which...

Here is what you need to know about how the Federal Government offered to help those affected by the COVID-19 crisis in relation to 2020...

Preparing for an Audit Preparing for an audit is much easier than it sounds. If your taxes are indeed accurate, then you have nothing to...

The quick method is another accounting option available to help small businesses calculate their net tax for HST purposes. This method...

Running your own business can be time consuming, stressful, and above all very expensive. That being said, business owners are able to...

Cancel or waive penalties or interest CRA may grant relief from penalty or interest when the following types of situations prevent a...

We are excited to inform our clients that we have moved to a new location. We are now located at 899 Bank st, in the Glebe. We also have...

If you own / manage one or multiple rental properties and you wonder if you can claim motor vehicle expenses as a deduction on your T776,...

Every year we receive the same “classic” question from our clients, so which is really better? TFSA or RRSP? The RRSP is better if: The...

Any of us may be subject at an audit at one time or another. That being said, there are ways of reducing your chances of being audited....

In general, interest expense which is incurred in order to earn income from business or property is tax deductible. If you have borrowed...

Even if you cannot pay your full balance owing on or before April 30, 2018, you can avoid the late-filing penalty by filing your return...