If your business relies on a vehicle to generate income, you can deduct some or all of the related vehicle expenses. Many...
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Welcome to The Bottom Line, our monthly blog packed with practical accounting tips and insights for businesses of all sizes. Whether you’re a small startup or a growing enterprise, you’ll find valuable guidance to help navigate the complexities of financial management. Each edition covers key topics ranging from tax strategies and budgeting tips to industry trends and best practices. Stay informed on the latest accounting news, discover actionable advice, and learn how to optimize your financial processes for greater success. Join us each month as we break down essential concepts to support your business’s growth and financial well-being.
If your business relies on a vehicle to generate income, you can deduct some or all of the related vehicle expenses. Many...
Do you hire individuals to perform tasks for your business? Do you have domestic helpers such as nannies or caregivers? Ensure that you...
If your business relies on a vehicle to generate income, you can deduct some or all of the related vehicle expenses. Many...
A July 22, 2024 Federal Court case found that CRA’s refusal to accept and provide tax refunds for corporate tax returns filed more than three...
Details on the new Canada disability benefit were included in regulations that were released on June 29, 2024. This benefit is intended to provide support...
Being asked to be the Executor of someone’s estate is a significant responsibility, often coming at a very sad time if that person...
Under the Income Tax Act, interest expense can be deducted from business income or property income if certain conditions are satisfied:
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What happens if you have an old debt owing to the CRA? Is there a deadline after which the CRA can no longer...
The volatility of cryptocurrency is well-known. Holding assets such as Bitcoin can result in huge gains in value over a relatively short duration....
The Tax Free Savings Account (TFSA) rules allow you to invest a substantial amount of money in a TFSA. All interest, dividends and...
Estate planning is an important consideration for all individuals, irrespective of their level of wealth. Poor planning, or no planning, can result in...
The Lifetime Capital Gains Exemption (LCGE) is an incredibly valuable tax exemption. Every individual is entitled to this exemption and it currently (for...
Do you hire individuals to perform tasks for your business? Do you have domestic helpers such as nannies or caregivers? Ensure that you...
If you have assets located outside of Canada, make sure to check whether you are required to declare these, as the deadline for...
If you are required to pay the CRA personal or corporate installments for income tax or GST/HST purposes, here is a useful tip...
To tackle the bane of unaffordable housing prices, the federal government has introduced a novel program, which is a RRSP + TFSA combined....
Federal government budgets over the years have had some key common traits: loss of brevity, increasing amounts of details for the public (despite...
About the Program
With a shortage of skilled workers across the trade industry, the Apprenticeship Service Program makes it...
Restaurant gratuities (tips) are taxable for income tax and EI, and may be subject to GST/HST
Recent Court cases...
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