Home » Archives by: jeanette

The 7 Best Tax Write-Offs that Canadian Small Businesses Fail To Claim

July 22nd, 2017 (No Comments)

  Ask me to name one of the most frustrating things I see on a quarterly basis, and my answer would be: waste. Waste is a prominent problem, so may think that I’m talking about wasteful spending, but there’s another big way Canadians are leaving cash on the table—losing out on opportunities to claim more […]

Claiming Gluten Free on Taxes

March 13th, 2016 (No Comments)

Many people living with Celiac Disease and cannot process the protein Gluten found in many food items. But did you know that you can claim those on your tax return as a legitimate medical expense?  Yes it’s true!  But there are limitations. Here is how it works:  The CRA website states you can claim the […]

To Buy or Not to Buy a House

November 2nd, 2015 (No Comments)

Many young couples and families are looking to buy their first home. Some are undecided if they want to be life time renters or buy a home. What should you do? There is no easy answer to the question. What I will try to do is break down some numbers and put in a few […]

When To Incorporate

September 17th, 2015 (No Comments)

Incorporating is not always a good option when you first start your business.  We recommend incorporating once you reach 100k per owner in profit. The biggest reason not to incorporate is for tax reasons. When it comes to a lower income it is better to not incorporate.  An unincorporated business is put on the owner(s) […]

New Child Tax Credit

July 24th, 2015 (No Comments)

So what does it mean with the new guidelines for the Universal Child care benefit (UCCB)?  Well it is  a taxable benefit.  It was introduced in 2006 originally to help families pay for daycare, but there were no rules as to what the money can be used for.  As of this writing the changes that […]

Surviving an Audit

December 13th, 2014 (No Comments)

People here audit and get scared.  When there really is no reason to be unless you made fraudulent claims on your tax return, or GST return.  Everyone at Revenue Canada that we have dealt with has been reasonable. Talking to them in a calm voice goes a long way. The last thing you want them […]

GST/HST Confusion

June 24th, 2014 (No Comments)

Over the past year I have added several clients, some whom have hired me for my knowledge of GST/HST rules and regulations.  It can get very confusing to the average small business owner.  In fact many big corporations don’t know all the rules either.  That is where a company like CBTS that works on several […]

Example #1 How to claim

March 12th, 2014 (No Comments)

Client is a young adult trying to save money for school.  She is babysitting her boyfriends nephew and wanted to know how to claim the money and do her tax return First of all if you must keep track of your income. You can claim the money earned on your personal return. There is a […]

Example # 2 How to claim

March 12th, 2014 (No Comments)

Client was working out of province doing sub contract work. It is the same kind of work he does at home under his registered business. He was wondering if to put his income and expenses under his Corporate or Personal Tax Return. He stated that there wasn’t much profit if any. Here is my reply. […]

Example # 3 How to Claim

March 12th, 2014 (No Comments)

A question from someone doing subcontract work that has a corporation, wanting to know if they should bill the company under the corporation or their personal name. Here are a few things for you to consider. The company you are doing work for most likely wants it under your business so they can claim the […]