Embarking on the journey of financial literacy opens doors to empowerment and confidence in managing one's financial affairs. Among the myriad components of financial knowledge, understanding tax problems is a critical skill that ensures individuals navigate the...
Group Enroll – Ready to Enroll Online
Taxes
Tips to Help You Manage Your Business Taxes
There is nothing more certain in life than death and taxes, as the famous saying goes, and if you run a business of any size, you will find a sizable chunk of your profits heading directly into Uncle Sams's back pocket. However, although paying tax is an absolute...
5 Tax Tips for Business Owners in Canada
The best thing about starting a business is that you get to be in total control of the operation. You get to decide which products to launch and which strategies to implement. However, the one thing we recommend is ensuring you receive the right guidance when it comes...
How Long Do You Keep Tax Records for Small Business in Canada?
Whether you’re new to small business operations or run a successful setup, you understand the importance of keeping documentation on hand for reference, legal filing, and more. Did you know, however, that Canadian law requires you to keep most business documents on...
New Tax Credits for 2022 in Canada: Brief Guide
Whether you're a seasoned business professional or new to choosing employee benefits, changes to the tax code impact you, your employees, and your business. The Canadian government has introduced several new tax credits for 2022 in Canada, including the goods and...
Canada Small Business Tax Deductions: Qualifications and Requirements
Small business owners are always looking to save money, including with taxes. The government wants to stimulate business activity, so they allow Canadian businesses to deduct certain expenses from their tax returns. Many business owners know about simple...
How Does the Disability Tax Credit Work?
Many Canadians face the prospect of disability, either now or in the future. The fear of losing the ability to support their families, plan for their retirement, and achieve their life goals can be overwhelming. They often ask, "how does the disability tax credit...
What Is a TFSA: How Does a Tax-Free Savings Account Work
A tax-free savings account, or TFSA, is a type of Canadian savings account that holds different kinds of investments and allows tax-free withdrawals. Canadians over the age of 18 with a valid social insurance number (SIN) are welcome to open a TFSA for any reason....
Qualifications for Claiming Dependants on Taxes in Canada
Do you live in Canada and have dependants? Don’t forget to claim your tax deduction. Most Canadians know that spouses and children qualify as dependants with the CRA (Canada Revenue Agency). Did you know, however, that under certain circumstances other family members,...
Can You Claim Business Expenses Even Without Income in Canada?
Discover whether you can claim business expenses on your tax forms even if your business did not generate any income last year. For Canadians with one source of employment income, tax laws, forms, and procedures seem relatively straightforward. However, once you own a...