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...
by adminaccountantcpa | Sep 25, 2019 | CRA
Today we’re going to take a look at the following notifications sent by the Canada Revenue Agency (CRA). Request for InformationNotice of AssessmentNotice of ReassessmentAudit 1. Request for Information This notification means that the CRA would like to see proof of...
by adminaccountantcpa | Sep 17, 2019 | Small Businesses, Tax Information
Many small business owners use their personal belongings in their businesses. Doing this shows the banks and the CRA (Canada Revenue Agency) that you have a personal stake in the venture. Naturally, the CRA has put together some rules which you need to follow in order...
by adminaccountantcpa | Sep 13, 2019 | Small Businesses, Tax Information
There are certain things you need to do if you are planning to close your business. This includes notifying the Canada Revenue Agency (CRA), paying any outstanding tax amounts, filing a final tax return and financing your succession planning. You won’t need your...
by adminaccountantcpa | Sep 2, 2019 | CRA, Tax Information
This project aims to review your corporation’s vehicle expenses. If you haven’t received a letter from the CRA then expect to get one soon. Here’s what you need to know. What is the goal of the project? The main goal of this project is to deny non-allowable automobile...