Recent Success of Winning a Battle with CRA

In this article, you will read about the recent battle of success against the CRA. The Canada Revenue Agency is tax collecting agency based in Canada. It often lands business owners and individuals in trouble for improper or wrong filing of taxes. Business owners often have to face a lot of difficulties when filing for…

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Benefits of a Corporate Owned Life Insurance

Life insurance plays a very important part in our life. It provides a huge financial protection in our critical moments, and saves us from vital financial situations. There are different types of insurance policies are available in market, and recently a huge number of government & corporate organizations have come up with insurance sectors to…

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Tips On Keeping Great Records

Every year tax season comes and during this period we used to make ourselves busy for preparing the tax returns within time. Each and every individual have tax returns and after the return file, they will get a receipt for the payment. So these receipts are nothing but the great records of each and every…

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Top Things Families Should Know About Taxes

Taxes play a very important role in the functioning of a government. They help us in attaining a secure role under the various benefits a government provides its citizens with. Not only they help the nation perform better but also provide amenities for families with certain lucrative benefits. There are a lot of concessions and…

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File Your Tax and Turn Loss into Tax Refund

The economical condition of Canada is going through rough phases these days. The Canadian dollar is dropped on the international market and the oil price is plunged as well. These scenarios favour the major losses in the businesses. And while going through losses, the taxes start appearing the biggest headache for the businessmen. But, under…

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Tax Free Sale of A Business

During a sale of any business, the seller faces quite a tax bill. Usually, people who sell their businesses encounter significant losses after paying all the taxes. However, whatever type of business you have, you can sell it without incurring tax. The IRS taxes the profit you make from selling the said business. It is…

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Top 2 Reasons Why You Should Not Incorporate Your Business

Starting a new business is an exciting prospect. One gets to start something potentially great, growing and evolving within a company created by them. Budding entrepreneurs are often unsure exactly how they should go about labeling their business. There are several options to choose from in Canada, but the label a company chooses needs to…

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What is Taxpayer Relief Program?

The Taxpayer Relief Program is an platform which can help to eliminate or at least reduce the penalties or the interests due on Income Tax. However, there are certain circumstances under which the Canada Revenue Agency (CRA) reduces or waives off the penalties or interests levied on Income Tax. Although this is a tough and…

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Top 2 Reasons Why You Should Not Incorporate Your Business just yet

One of the most frequently asked questions we got from new business owners is this: Should I incorporate my company? In Canada, you can run your business through the following three methods: 1. incorporate your business as a separate legal entity know as a company 2. keep it running as a sole-proprietor 3. partnership. In…

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