Even if your business income is low, be sure to claim all your business-related expenses. Any business loss can be carried back 3 years or forward 20 years. Those earlier or later returns can then be reassessed to include the business loss and you could be eligible for an additional refund.
Have questions?
Give us a call at 905-571-2665 (BOOK)! We’ve got you covered!
Whether you run your own business or only speak to Shaelene about your personal taxes, consider setting yourself up with Quickbooks Online and Receiptbank.
Quickbooks is simple, easy, online bookkeeping. Receiptbank allows you to take pictures of all your receipts and invoices so you can upload them to the cloud where we can instantly see them in real time. While it does cost a monthly subscription fee, you can write it off as an accounting fee – these are reasonable accounting fees that you pay so that you can prepare and file your income tax. It helps your accountants tremendously when all of your data is organized in a simple web interface and will keep you organized too!
Have questions?
Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!
Stop paying for CPP: “If you’re 65 or older, and plan to continue working, you can choose not to contribute to CPP by completing Form CPT30 Election to stop contributing to the Canadian Pension Plan, or Revocation of a Prior Election.”
Have questions?
Give us a call at 905-571-2665 (BOOK)! We’ve got you covered!
