Shaelene’s Tax Tip of the Week – February 7th

Books In Line

Did you know?

While traditionally all tax owing must be paid by April 30th if you’re self-employed, you and your spouse (married or common-law) have until June 15th every year to file your tax returns. As long as your return is filed by that date, you will never be charged the late filing penalty of 5%.
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Shaelene’s Tax Tip of the Week – January 24th

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Why should you consider buying into an RRSPs (Registered Retirement Savings Plan)?

It is a great way to save on taxes! Remember, this program is a tax deferral program, meaning that when you withdraw the funds at a later date, it is expected that you will be in a lower tax bracket. Once your money is in the plan it can grow and grow (thank you compound interest!) and again, you will only pay tax on the funds as you withdraw them.

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Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!

Shaelene’s Tax Tip of the Week – January 10th

Books In Line

Did you know?

As is the standard in much of Canadian Law, the CRA uses a “reasonableness” test to determine their decisions as they relate to business income. In fact, “reasonable” and “reasonably” shows up an astounding 1,219 times in our Income Tax Act. If you plan to do something, consider for example whether or not the CRA would think you “reasonably” expected a profit from your undertaking.

Have questions?

Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!