Author: Oliver

Canada Tax Filing and Payment Extensions amidst Covid-19 This post is not being updated anymore. Please visit our page income tax services during Covid-19.  Updated on July 27, 2020 Updated on March 18, 2020 (11:45 EST) As announced by Prime Minister Trudeau: Tax filing deadlines are extended until June 01, 2020 Tax Payments are deferred until August 31, 2020 for the amounts due after...

When you are writing your business plan for a startup or an established business, you need to be clear about your audience. Who are you selling it to? Who are your ideal customers? You need to take a look at everything from the demographics to the psycho-graphics and even the special characteristics, if any, of the audience in question. When done right, the market analysis section of your...

Income Tax Return filing opens on February 24, 2020 08:30 AM in Canada. Are you expecting an income tax refund from Canada Revenue Agency, start filing your taxes earlier and get the refund quicker. Important Dates – Personal Taxes in Canada Individual income tax return filing deadline – April 30, 2020 Individual income tax return filing deadline – April 30, 2020 Individual...

Personal Income tax and benefit returns (T1) efiling will be opening on February 24, 2020 for the tax year 2019. Though the electronic filing of personal taxes is starting from February 24, 2020, it is a good idea to organize all your documents before that. Income tax and benefit returns in Canada are due by April 30, 2020 and for self employed individuals deadline is June 15, 2020. To assist...

A Canadian Perspective to business plan writing… Recall your middle school teachers insisting you on making a routine for the completion of your syllabus. Why would you do it? How would you frame your routine? And what points would you consider before planning your schedule? The goal was to regulate your time and syllabus, and score a decent grade! A business plan is nothing different! In...

Information Returns for Employers If you are an employer in Canada, you may have the requirement to file different information returns at the end of year. Missing filing of information returns can cost businesses dearly. These information returns include both summaries and slips. Each slip is an information return. Please note that this is different from the filing of information along with...

Electronic filing for T1 – Individual Income Tax return Canada will be unavailable on below dates as per the Canada Revenue Agency: January 17, 2020 11:00PM to February 24, 2020 08:30 AM  During this period, personal taxes cannot be EFILED or ReFILED, and Express Notice of Assessment will be not available. For the individuals in Canada, looking to file their taxes electronically for the...

When it comes to your personal taxes (or corporate taxes) in Canada, it is very important that you get to the right tax professional! Read: Should you do your taxes yourself or hire a professional tax help in Canada This is very common to confuse tax preparation service with a tax advisor. Whether you should hire a tax preparer or a tax advisor depends on your tax situation and needs. Who...

Spring is near but the tax season is already there! You don’t want to waste away such a beautiful time of the year stressing over your taxes, right? Why not start preparing for it already? A lot depends on how you approach it- do you do your personal taxes yourself or take help? When Should You Do It Yourself? If you are someone with an office job, or someone who is organized to the minute...

Running a business can be quite expensive, especially when you hire full-time or part-time employees for tasks that can be conveniently outsourced. One of those tasks is accounting, which can eat up a lot of your money if you hire accountants or bookkeepers. Not only does outsourcing save you a lot of money on personnel, but also helps you scale up your business with a lot more ease. However,...