Medical Professional Corporation
Tax savings are one of the biggest advantages of incorporating your medical practice. We carefully evaluate the many planning options that exist. Incorporate with us and we’ll have your MPC up & running. Our Package for Medical Professional Corporation is: Medical Professional corporation Pricing $1,500+ HST If there is an existing practice under your Personal […]
Tax Tips for Uber Drivers in Canada
Driving for Uber or Lyft is one of the most flexible jobs in Canada. Whether it’s your full time job, part-time gig, or an occasional source of side income, the rules around taxes for rideshare income are quite specific. Here are the (tax) rules of the road and Tax tips for Uber Drivers in Canada. […]
Is it a hobby or a business? CRA
Many of us have hobbies that bring us joy; some of us have hobbies that bring us additional income. Whether you bake cupcakes and sell them to co-workers or go fishing after work and sell what you catch to friends, any profit you make from your passion could be considered business income, subject to income […]
FORM T2125 – STATEMENT OF BUSINESS OR PROFESSIONAL ACTIVITIES
When a Canadian taxpayer earns business income or income from a profession, then in addition to having to report and pay tax on their profits, they also need to fill out a FORM T2125 CRA – STATEMENT OF BUSINESS OR PROFESSIONAL ACTIVITIES for each of their business or professional activities. Form T2125 is part of […]
$61,000 Tax Write off for Electric Vehicles in Canada; Abdullah CPA
The Incentives for Zero-Emission Vehicles (iZEV) Program and tax write offs for electric vehicles in Canada are helping to make it more affordable. Types of Federal Incentives There are two types of Federal incentive programs available: As long as a vehicle (the year, make, model, and trim) appears on the list of eligible vehicles, an incentive can be […]
The Importance Of Monthly Bookkeeping For Your Business
We have met with many business owners over the years, and at times, the finance function takes a back seat to growth/operations. Some business owners believe that the finances, importance of monthly bookkeeping and back-office can occur once per year (i.e. a large catch-up project) rather than completing tasks on a more frequent cadence. This […]