Shaelene’s Tax Tip of the Week – March 27th

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Did you know?

As a self-employed person, the due date for your personal income tax return (as well as your spouse’s return) is on or before June 15th. However, if you owe money it is actually due on April 30th! My tax tip? Forget all about the June 15th due date and always treat your bookkeeping and taxes as though everything should be completed and ready to be paid by April 30th.

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Shaelene’s Tax Tip of the Week – March 20th

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Shaelene’s Tax Tip of the Week – March 20th

Did you know?

Claiming auto expenses is beneficial to reducing your taxable business income. Auto expenses include fuel and oil, license and registration, maintenance and repair, insurance, car washes, parking, tolls, interest paid on an auto loan and leasing costs. Be sure not to miss out on these costly expenses by being sure to save every receipt.

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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 – March 13th

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Did you know?

Receipts are considered the financial dashboard of how much money you spent throughout the year. Ensure that you hold on to all receipts and invoices that are pertinent to income earned from your business—whether it was for providing services or selling products.

CRA recommends holding on to paperwork for up to six years. If you lack back-up documentation, CRA has the right to impose interest or penalties, and your claims can be disallowed. Additionally, it is highly recommended that you have separate credit cards and bank accounts for personal and business-related transactions.

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

We’ve got you covered!

Tax tip found here.