30 Good reasons to Open a CRA My Account ASAP
“My Account” for individuals is Canada Revenue Agency’s (CRA’s) online service portal which allows Canadian taxpayers to access their personal income tax and benefit information quickly and easily. It also allows taxpayers to manage many of their personal tax matters online, 7 days a week/21 hours a day. If this service had been available when tax was a large […]
Incorporation Now, Later or Never?
There comes a time when many (if not all), entrepreneurs wrestle with the decision of whether or not to incorporate. There can be many advantages to incorporation but it’s important to determine if all those advantages will actually benefit you and your business. Sometimes, it’s too early to incorporate. Hopefully this blog will help you […]
Last minute year-end tax planning tips

According to a CIBC poll, 77% of Canadians don’t think about their taxes until Dec. 31 or into the new year which is the reason why so many Canadians miss out on tax saving opportunities. But it’s the start of December so there is still time to put some tax savings options into place! Here are […]
Top Age Friendly Tax Tips for Canadians

I can’t believe it’s that time again ! The older you get the faster another tax season seems to be upon us, especially if you’re an accountant! Whether you file your own return or help an older family member or friend, I hope this annual update of my Top Age Friendly Tax Tips will help ease the pain […]
How to make your life with CRA easier and your accountant happy

Access personal tax and retirement information securely online “My Account” for individuals is Canada Revenue Agency’s (CRA’s) service portal which allows Canadian taxpayers to access their personal income tax and benefit information quickly and easily. It also allows taxpayers to manage many of their personal tax matters online, 7 days a week/21 hours a day. If this service […]
10 ways to spend your tax refund productively and wisely

Tax season is followed in Canada typically by “tax refund waiting season” with the average Canadian awaiting a tax refund of approximately $1,600. For many waiting on a tax refund it’s seen as a windfall or found money but in reality it means tax has been overpaid and money has been lent to the government […]
10 Smart reasons why students should file a tax return

Lots of students may believe they don’t need to file a return because they don’t owe any money. However, students may very well be leaving money on the table without filing. What student couldn’t use a few extra dollars? Last year I asked a student in an elevator if he had filed his taxes yet. He […]
Age Friendly Tax Tips

It’s hard to believe that another tax season is upon us! But since there is no denying it, I thought it would be worthwhile to pass along these Top 10 Age Friendly Tax Tips! These tax tips are particularly relevant to those over the age of 65 or those living with a disability. So, whether you file your […]
5 last minute retirement related tax tips for 2018

A CIBC poll reported that 77% of Canadians don’t think about their taxes until Dec. 31 which is the date when many tax-planning opportunities expire. It’s most likely the biggest reason why more than 75% of Canadians will miss tax saving opportunities. It’s much better to think about ways to reduce your 2018 tax bill […]
TFSA or RRSP?

Both TFSAs and RRSPs are excellent savings vehicles for Canadians. The TFSA is a Tax Free Savings Account that has only been around since 2009. TFSAs are often referred to as the “Totally Fantastic Savings account” yet some are not aware of the differences between a TFSA and a regular savings account. By contrast, RRSPs are […]