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Tax deductions for small business owners

Tax time is fast approaching—it’s important to do your homework and know exactly what tax deductions you can claim.


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2017 Third Quarter Newsletter

On July 18, 2017, Minister of Finance, Bill Morneau announced the release of a Consultation Paper which focused on three tax practices that the Government considers to provide an unfair tax advantage to private corporations and their owners.

29-Aug-2017 Float

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How Cloud Technology Has Transformed the Role of Accountants

The role of a tax accountant has been continuously changing over the course of the last 50 years, and it is currently undergoing yet another transition period with the growing popularity of cloud accounting.


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“Let me tell you how it will be”: What the taxman can teach you about getting paid on time

I recently overlooked a GST bill.

The taxman is not okay with that. He wants his money. And fair enough; I want free healthcare and the other benefits of being a taxpayer.


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2017 Federal Budget

On March 22, 2017 the Honourable Bill Morneau, Minister of Finance, presented the 2017 Federal Budget, Building a Strong Middle Class, to the House of Commons


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Automobile Expense Deduction for Canadian Income Tax Purposes

Whether you’re self-employed or an employee, you may be able to claim an income tax deduction for certain automobile expenses that you incur to earn income. Wondering if you are eligible for such deductions?


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This new non-refundable credit will provide federal tax relief of 15% on up to $10,000 of eligible expenditures per calendar year, per qualifying individual (a person 65 years of age or older at the end of the particular taxation year or a person eligible for the Disability Tax Credit). If there is more than one eligible individual in a residence, the maximum eligible expenditure for that property will be $10,000.


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On October 19, 2015, the Federal Liberal Party, led by Justin Trudeau, obtained a majority of the available seats, giving the required strength to more quickly pass bills and implement the party platform.


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Tax Evasion Failure To File Tax Returns Conviction

Erhard Unger was convicted in Penticton, BC of failing to file income tax returns and was fined $1,000. This amount is the minimum penalty possible, and he could have been liable for a much larger penalty and even jail time. He deliberately failed to file Canadian tax returns from 2012 to 2015 despite receiving demands to file tax returns from CRA.


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Tax Fraud or Tax Evasion & Tax Audit Difference

As income tax lawyers in Toronto our clients are sometimes investigated by the Canada Revenue Agency for tax fraud or tax evasion. So what is a tax investigation and how does it differ from a tax audit? This article will explain the differences between being audited for taxes and being investigated by CRA for tax fraud or tax evasion.


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Tax Planning for Deduction of Guarantee Payments –Tax Lawyer Toronto Commentary

Often it will be necessary for an entrepreneur to personally guarantee the obligations of a private corporation. Our experienced Toronto tax lawyers can carry out the income tax planning, provide tax help and draft the guarantee to ensure that any guarantee payments made are tax deductible to the payer.

05-Mar-2016 Collins Barrow National Cooperative Inc.

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2016 Ontario Budget Commentary

On February 25, 2016 Finance Minister Charles Sousa tabled his fourth Budget.
The deficit for the 2015-16 fiscal year is projected to be $5.7 billion, which is $2.8 billion less than forecasted in the 2015 Budget. The deficit is projected to drop to $4.3 billion for 2016-17 and to be eliminated by 2017-18. Furthermore, the government is also projecting a balanced budget in 2018-19.

26-Feb-2016 Crowe Soberman LLP

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Canada: 2015 Personal Income Tax Checklist

Please complete the attached checklist and send all the necessary information and documentation to us AS SOON AS POSSIBLE as we need time to prepare, process, check and deliver your tax return by the filing deadline of May 2, 2016. Please ensure that all documentation provided is complete. This will allow for quicker processing and efficiency.

Note that if you or your spouse carried on a business in the year, you have until June 15, 2016 to file your personal income tax return. However, you and your spouse's tax liabilities are due on May 2, 2016.


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December 31, 2015 is fast approaching… see below for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation.

16-Jan-2015 ReceiptBank

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Digital Tips to Attract Clients Online This Tax Season

Your website or LinkedIn profile will often be the first thing about your company that a prospective client sees, and as we all know, you only get one chance to make a good first impression.