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2020 Tax Filing in Alberta
2020 Tax Filing Advice from your Edmonton CPA 2020 Tax Filing in a Pandemic can be hard with CERB, and other government grants Filing your Personal Income taxes for 2020, what you need to know: If you...
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Accounting for your Alberta Rental Property
Accounting for your Alberta Rental Property How to report your Alberta rental income and expenses to file your taxes correctly to the CRA. Let’s monitor how your investment is performing....
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Child Care Write Offs
Child Care Expenses – What can you write off?From your Edmonton CPA Eligible Child Care Expenses for your Alberta Tax Filing. Perhaps this is your first year being a parent, or you have filed before...
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COVID-19 Supports
Canada Emergency Wage Subsidy CEWS 75% Wage subsidy for up to 12 weeks March 15 to June 6, 2020Eligible companies are employers who had a payroll account on March 15, 2020 and have a reduction in...
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2019 Corporate Tax Filings
2019 Corporate Tax Filing Advice from your Edmonton CPA 2019 Tax Preparations for your Edmonton Company. Filing your Corporation’s taxes for 2019, what you need to know: Perhaps this is your first...
View ArticleShould you Buy or Lease?
Should you BUY or LEASE? The question asked by most Edmonton Business Owners. The buy or lease question comes up often when we chat to our Edmonton Clients. You want to buy a new car or piece of...
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Review Engagement
Review Engagement in Edmonton Review Engagement in Edmonton! Recently we had the opportunity to work on a review engagement for an Edmonton corporate client. Review engagements involve inquiry and...
View Article2018 Tax Preparations
.fusion-fullwidth-1 { padding-left: px !important; padding-right: px !important; }Edmonton Sole Proprietor Tax Filings and What You Need to Collect 2018 Tax Preparations for your Edmonton Company: With...
View ArticlePerfect Audit
A Perfect Audit Score! We had to brag after receiving a letter from the CRA regarding one of our Edmonton corporate clients recent audits. When the CRA completed their 3 year audit of our Edmonton...
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Records Retention
Records Retention Whether you’re an individual or an individual doing business in Canada you need to keep records in case of review by the Canada Revenue Agency (CRA). Here’s what to keep and for how...
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Incorporation
Incorporation or not The question is whether you are better off to earn income directly (personally) or through a corporation. From a tax perspective there are good reasons for incorporation and...
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Incorporation Pros and Cons
Incorporation Pros and Cons Before incorporation make sure you are familiar with the incorporation pros and cons. For tax reasons it makes sense to incorporate when your net profit starts to exceed...
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Tax Deductible Expenses
Tax Deductible Expenses Whether you have your own business or rental property these are the types of expenses that are tax deductible. The quick answer to what a tax deductible expense is; if you...
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Principal Residence Exemption
Principal Residence Exemption Gain access to the principal residence exemption. When a taxpayer sells real estate property it triggers taxable capital gains when the selling price is higher than the...
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Will Planning
Will Why Will Planning is important Without a will the courts will decide how to distribute your estate. A legal spouse will get the first $200,000 with the balance being split between the spouse and...
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Dividends or Salary
Dividends or Salary You have a small incorporated company and at the end of your fiscal year your accountant is asking you if you want to pay yourself with dividends or salary. Here’s how it works in...
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Canadian Resident for Tax Purposes
Canadian Resident for Tax Purposes You’re new to Canada and you’re wondering when you need to start filing tax returns. Being a resident for tax purposes is different than for immigration purposes....
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Child Care Expenses
General Rules for Deduction of Child Care Expenses A person can claim child care expenses for having someone look after their eligible child so that they can earn income, run a business; conduct grant...
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Employee or Contractor
Employee or Contractor When you pay an employee you are required to follow payroll rules. You take deductions off employee pay for CPP, EI and tax. In addition, you pay CRA an employer portion for...
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Tax Filings Upon Death
Final Tax Filings Upon Death There can be up to four separate tax returns filed upon death. This results in income splitting because of filing multiple returns. This gives access to lower personal...
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