Posts Tagged "tax"

When is an Annual Return not a Tax Return?

Sometimes when people say “Annual Return” they are referring to a tax return but an “Annual Return” is also what the Province of Alberta calls the return that needs to be filed with a registry office each year. Each year…

Salary or Dividends

Small business owners often ask if they should pay themselves with salary or dividends. The answer, as usual, depends on your particular financial situation and goals. First of all remember that: Salaries build up RRSP room. Dividends do not. Salaries…

Tax Scams

Tax season will soon be upon us but sadly For every tax problem… …there is a solution which is straightforward, uncomplicated and wrong (Credit to marksaccjokes.blogspot.ca) Unfortunately some of those “solutions” are tax scams that you want no part of.…

Avoid tax penalties and interest

Canada Revenue Agency (CRA) imposes various penalties and interest to encourage people and corporations to file tax returns and pay taxes on time. Here are a few of the penalties and interests imposed by CRA: Interest on unpaid amounts owing.…

Tax Season

10 Ways to get a CRA auditor’s attention According to CBC here are 10 ways to get noticed by the tax man. Read the full article here http://www.cbc.ca/news/business/taxes/tax-season-2015-10-ways-to-attract-a-cra-auditor-s-attention-1.2969196

Get a Jump on Organizing Your Tax Information

Thanks to the Huffington Post, here are 8 suggestions for taking the stress out of keeping your tax information organized. Go here to see the article http://www.huffingtonpost.ca/professional-organizers-in-canada/8-ways-to-stay-ahead-and-_b_6583064.html