Common Core Math Does Not Work With CRA!
We could not resist showing you this funny math video which shows common core math. Hopefully, you haven’t used this with CRA! A good accountant is an invaluable resource. MSH Accounting CPA can provide a wealth of knowledge and can help you make sense of your numbers. Contact Mark to get started on the right accounting path. […]
Tax Implications for Maternity Leave
As an employee with T4 income, there are many situations where you should thinking about tax preparation and what taxes you might owe for 2016. If you have changes jobs several times in 2016, your employers took the correct taxes off for your salary level, but each has taken into account the basic tax credits, […]
How Much Will You Owe Or Receive Back From CRA This Year?
If you are a sole-proprietor, realtor, landlord or commissioned employee this is a good time to start your tax preparation by assembling all your receipts, classifying and adding them up. Your accountant will be proud of you and probably give you an idea of what your refund or amount owing for 2016. Having an idea […]
Payroll Source Deduction Are Coming To A Close
The 2016 tax year are coming to a close and the first major tax reporting in 2017 is T4 preparation, now is the time to balance your payroll source deductions. You need to compare what you have paid to CRA against what your payroll system indicates. There are many reasons why you have not paid […]
Understanding Accounting Can Be Tricky When You Have Ma & Pa Kettle Explain
Having a professional accountant do your taxes can save you some embarrassing issues. Don’t let someone like Pa and Ma do your accounting!! A good accountant is an invaluable resource. MSH Accounting CPA can provide a wealth of knowledge and can help you make sense of your numbers. Contact Mark to get started on the right accounting path. […]
CRA May Call You
The Canada Revenue Agency (CRA) is now starting their matching process, the process compares the T-slips you reported with those they have on file, confirming declared revenue. So if there is a slip missing CRA may phone to obtain a copy or will send you a request for more information. It may be a slip […]
Tax Update 2016 Proposed Changes To Small Business Deduction
Tax Update 2016 – Proposed changes to the Small Business Deduction. This video explains new small business deduction changes in layman’s terms. Feel free to send the link (or share on Facebook, Twitter, and LinkedIn) to your clients, colleagues, politicians, or whoever else you feel may be interested. Major Tax Changes for Many Small Businesses […]
Is Insomnia A Case Of Back Taxes?
At night when the house is settled in for sleep and all is peaceful; does your mind become that darting squirrel not allowing you to rest because of your back taxes? Are you concerned with Revenue Canada contacting your employer, putting a lien on your home, or seizing your bank account? Unfortunately, you are not […]
Revenue Canada Allowance for Gluten-Free Diet – Celiac Disease
An individual who has lived with celiac disease may only see the negative side to this disease. However, we would like to walk down this mountain taking a different trail and perhaps adding a couple of positive thoughts to having celiac disease. For some being diagnosed with celiac disease has been a blessing as they […]