Business Matters June 2015

July 17, 2015

The June edition of Business Matters is available directly from our website along with past copies as well as Tax Tips and Traps. Download Business Matters In this Edition …. Salary or Dividends The way a bonus is paid has a significant effect on corporate and personal after-tax income. You’re Hired Human rights legislation governs […]

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Taxing Day Traders TFSA’s

July 16, 2015

If the CRA can latch on to something, they will. For most of us, the investment income we earn inside our TFSA’s are 100% tax free. However, if you are day trading inside your TFSA, the Canada Revenue Agency may come knocking. You see, under the Income Tax Act, there is a subtle but highly […]

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Recordkeeping Automobile Expenses

June 22, 2015

If you use a car for business or your company provides a vehicle, the driving must be allocated between personal and business . This allocation is based on the total number of kilometers driven and the kilometers driven for business and the CRA requires that a log be kept. Why Track Kilometers? When we file […]

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2015 Q1 Tax Tips & Traps Newsletter

January 27, 2015

The 2015 1st quarter edition of tax Tips and Traps is out! In this edition: Tax ticklers – Quick points to consider Family Tax Cut – Income splitting for families with children Canada Job Grant – Government funds available Employment Expenses – Are You Eligible? Government Collection Policies – When you money other than taxes HST and Taxable Benefit […]

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Business Matters – January 2015

January 16, 2015

Welcome to the January edition of Business Matters. Business Matters is a bimonthly newsletter focused mainly on businesses and entrepreneurs. The topics in this newsletter goes beyond taxation and touch on a number of topics that affect businesses. Like our Tax, Tips and Traps Newsletter, Business Matters is available by download and may be printed for […]

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IRS Simplifies Reporting for RRSP’s & RRIF’s

November 17, 2014

On October 7, 2014, the Internal Revenue Service (IRS) announced that is was making the reporting rules for Canadian registered retirement savings plans, RRSP’s and RRIF’s much easier. Background The United States tax code does not recognize the tax-deferred status of Canadian registered retirement plans and requires that the income be reported on a tax return […]

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