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!
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What’s the difference between an RRSP and a TFSA?
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.
Are there any tax implications to giving a gift to my employees?
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 alwa...
Can I deduct my meals and entertainment expenses?
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.
Principal Residence Reporting
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 ...
An Income Tax Workshop for Family Caregivers
Perhaps the best known – and least understood – claim you can make on your income taxes is Medical Expenses and the various related tax credits that surround medical issues. But every year, thousands of Canadian Taxpayers lose out simply because legitimate claims are not made.
Foreign Income Verification Statement
Other the past three years, this long standing filing requirement on Canadian Taxpayers holding Foreign Property has been changed and altered many times.