Breaking News

We're Moving!

We're Moving!

Posted Apr 4th, 2019

We're pleased to announce that, due to your continued support, The Accounting Place is moving to larger premises effective June 20, 2019.  Our new location at 204-115 Hwy 8, Stoney Creek is only 400 metres from our current location...

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Passive Income in a CCPC

Passive Income in a CCPC

Posted Dec 31st, 2018

Effective January 1, 2019 Canadian Controlled Private Corporations (CCPC) who earn Passive Income are subject to new legislation which results in an increase in the amount of income taxes paid by the corporation.  While there has been much discussion regarding these changes, they are now in place. As with all taxation, planning becomes of the utmost importance to ensure that you do not pay one nickel more in taxes than is absolutely necessary under the legislation.

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2017 Tax Credits and Tax Deductions - What's the Difference?

2017 Tax Credits and Tax Deductions - What's the Difference?

Posted Feb 26th, 2018

The terms “Tax Deduction” and “Tax Credit” sometimes seem to get thrown around as if they’re interchangeable, but that’s not really the case.  What is the difference between a “Deduction” and a “Credit”?

There is a distinct...

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Minimum Wage & Labour Changes

Posted Dec 1st, 2017

Ontario’s “Fair Workplaces, Better Jobs Act” (Bill 148, 2017) may impact your business effective January 1, 2018.  Ensure that your business is compliant with the new Ontario Labour Laws.

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Alan Rowell on CHCH Morning Live discussing first-time tax filings

Alan Rowell on CHCH Morning Live discussing first-time tax filings

Posted Mar 7th, 2017

Tax time is approaching and it can be routine - but what about your child’s first tax return? Alan Rowell of The Accounting Place spoke on CHCH Morning Live this morning with tips on how to handle the new wage earner.

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The Accounting Place has been nominated in the 11th Annual Hamilton Community News Readers’ Choice Awards!

The Accounting Place has been nominated in the 11th Annual Hamilton Community News Readers’ Choice Awards!

Posted Feb 23rd, 2017

The Accounting Place has been nominated in the 11th Annual Hamilton Community News Readers’ Choice Awards!

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What’s the difference between an RRSP and a TFSA?

What’s the difference between an RRSP and a TFSA?

Posted Feb 14th, 2017

There are many differences between a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). The benefits of each should be considered before deciding to invest inside either.

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Are there any tax implications to giving a gift to my employees?

Are there any tax implications to giving a gift to my employees?

Posted Feb 14th, 2017

In December, many employers choose to show their gratitude to employees with a gift. Before giving gifts, the employer should consider the tax implications.

A cash gift, or a near-cash gift such as a gift certificate, is...

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Can I deduct my meals and entertainment expenses?

Can I deduct my meals and entertainment expenses?

Posted Feb 14th, 2017

In order to qualify as a deductible expense, the self-employed or commissioned salesperson must be able to demonstrate that the amount paid was incurred for the purpose of earning income and is a requirement under their conditions of employment.

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Principal Residence Reporting

Principal Residence Reporting

Posted Feb 12th, 2017

Effective January 1, 2016 all dispositions of real estate are required to be included in your personal income tax return; even if it was your principal residence. In the majority of cases this will result in a capital gain. A principal...

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