Filing Taxes Insights
December 7, 2020
Managing the cash flow impacts your business and if done well, can even lead your business to great heights. New businesses usually do not have that extra money to face any crisis or shortfalls. The first few years are highly crucial for any business. Because this is the time when the business owners need to focus on their cash flow management. What exactly is Cash Flow Management? Understanding cash flow management is very important from your business point of view. Cash flow is considered as the amount of money coming in and going out of your business. If the money […]
July 3, 2020
When we think about expenses, we usually look at household budgets, money spent on mortgages or rents, and food and transportation expenses. While these expenses matter, you should always keep income tax in mind as this is the largest expense for most Canadian families. Many tax changes went into effect in 2019, and the same goes for 2020. With the adverse effects of COVID-19, other tax changes will take effect before the tax return expires. It was extended until June 1, 2020. Keeping more of your money in your pocket can be kept by staying abreast of tax changes. In […]
July 3, 2020
Canada Disability Tax Credit (DTC) is a non-refundable credit that can be used to reduce your taxes owed. The Disabled Tax Credit is available to people with severe or persistent physical or mental impairment. Therefore, depending on the situation, you can claim this credit for yourself or on behalf of your loved one. How to apply for the Disability Tax Credit? You can claim the disability tax credit for yourself, your spouse, child, or common-law partner. To apply, either a legal representative or a person with a disability must fill out Part A of Form T2201. For instance, if you […]
July 3, 2020
In 2017, Ontario’s labor laws were changed to business owners for ten years, known as Bill 148. Most of the legislation in the bill was executed on January 1, 2018. While others came into force at different times during the year. If you own a business, this bill will affect you a lot. Therefore, the owner of any business must catch new changes, to ensure that they are on the right side of the law. In this blog, we will look at the most important features of the new act, which are suitable for business people. Some of the changes […]
