Shaelene’s Tax Tip of the Week – January 8th

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. 

Have questions? Give us a call! 905-571-2665

Shaelene’s Tax Tip of the Week – August 14

Do you plan on selling your principal residence? 

As long as it has been your principal residence for every year that you have owned the property, you will not have to pay any tax on any gain from the sale.  If it was not your principal residence at any time you have owned the property, or only part of the property is considered your principal residence, you will have to pay part of the tax on the capital gain corresponding to the years it wasn’t or the square feet that wasn’t included as part of the principal residence.


Have questions? Give us a call at 905-571-2665.