Did you know?
When claiming meals and entertainment expenses be sure to write down the name of the person you were with, for example, “potential client Jane Smith.” Getting into this habit will help to audit-proof your return.
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Give us a call at 905-571-2665 (BOOK)!
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Have you protected your business?
Have you protected your business? You qualify for a tax deduction if you have General Business Liability Insurance, Business Property Insurance, or Business Interruption Insurance. You cannot, however, claim life insurance unless you’ve used it as collateral for a business loan.
Have questions? Give us a call at 905-571-2665 (BOOK)!
Since February 2020 the CRA has been reaching out to individuals who have uncashed cheques from the CRA. Because the cheques are from the government, they never expire and cannot reissue a new cheque until it has been requested by the receiver. Many times cheques can be lost or forgotten, other times it can be that the receiver of the cheque has moved and did not update their address with the CRA.
This month the CRA will be reaching out to 25,000 individuals about their uncashed cheques. Later in the year in November another 25,000 will be notified and again in May 2023. If you would like to know if you have any uncashed cheques from the CRA you will need to check your My Account through the CRA.
It can be found on the right hand side under “related services section” of your home page of your account. If you do not have an account already you can create one with the link below. You will need the current tax year return or the previous year to create the account.
Have questions?
Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!
