by adminaccountantcpa | Apr 10, 2022 | Tax Deductions, Tax Information
There are many tax-related issues when you have many assets and income. One of the reasons people do not know the best ways to save money from taxes is because they say that it doesn’t matter how much you make or how much you own. They will still take away as...
by adminaccountantcpa | Oct 16, 2021 | Tax Deductions, Tips
1. Individuals Individuals who own rental property need to calculate the income or loss from the property for each calendar year. This is then adjusted with the other personal income for the year. If the property is co-owned, then each co-owner must individually...
by adminaccountantcpa | Mar 5, 2020 | Tax Deductions
If you’re a parent, the Canada Revenue Agency (CRA) offers a number of ways you can save money while raising your child. This is done through various tax credits and tax deductions. Deductions for Child Care Expenses You can use this deduction if you’re using daycare...
by adminaccountantcpa | Jan 23, 2020 | Tax Deductions
Did you know that most non-cosmetic dental expenses are tax deductible? Read on to find out what you can claim on your tax return. To do this you will use the Medical Expense Tax Credit (METC) and this will allow you to reduce the tax that you have to pay or have...
by adminaccountantcpa | Dec 13, 2019 | Tax Deductions
A startup cost can be any money or capital which you spent to get your business off the ground. For example if you’re a starting a website development company then your startup costs would include computers, desks, chairs and various software etc. If you want your...
by adminaccountantcpa | Oct 1, 2019 | Tax Deductions
Gifts-In-Kind are a non-monetary donation to a charity. These can also be tax deductible provided you keep a few things in mind. 1. The Most Important Condition Make sure that the charity of your choice is recognized by the Canada Revenue Agency (CRA) as a registered...
