Is CERB Considered Taxable Income?
If you have been receiving the CERB payment you’re going to have to pay taxes on it. CERB is considered a source of income. The Government of Canada introduced CERB during the ongoing COVID-19 pandemic. CERB stands for Canada Emergency Response Benefit. This benefit allowed the majority of people that live in Canada obtain a […]
Canadians Can Apply for Another $4,000 CERB Payment if They Are Still Unable to Work
According to recent news, the CRA will be issuing CERB payments to Canadians in need of financial assistance for another eight weeks. For those who have not received a CERB payment and don’t know what it is, the CERB benefit is a $2,000 a month taxable benefit paid to workers who have lost their income […]
What’s The Difference Between Accounting & Bookkeeping?
Two of the most important functions for any business are accounting and bookkeeping. Both accounting and bookkeeping are designed to work with financial data and generate reports pertaining to financial transactions. While these two functions are somewhat similar, there are many differences between the terms that every company should know about. Before you hire a […]
Overlooked Expenses An Ontario Business Can Write-off
There are a wide array of expenses that you can write off on your business taxes, many of which you probably unaware of. If you own a small business in Ontario, you likely have a strict budget that you’re attempting to stay under while also growing your business. One way that you can minimize the […]
Read This FAQ Before Filing Your Ontario Income Taxes
Before filing your taxes in any given year, you’ll want to be aware of your options and limitations. This document provides a clear guideline and answers the common questions that people who are ready to file their taxes are asking. What Is the Due Date to File Taxes in Ontario? Any individual who lives in […]
Changing Taxes and Benefits For The Year 2020
The year 2020 is hours away so read on to find out what’s changing for taxes and benefits by revenue Canada for the new year. Our goal is not only to provide you with professional taxation and bookkeeping services, but also to get you prepared for the new year with some good news. Read on […]
Complete 2020 Income Tax Return Checklist
If you have not hired an accountant to file your taxes, it can be quite challenging to get them done right, but we are here to help you. We’ve put together a complete income tax return checklist for 2020 that you can reference which will help you organize everything you need to properly prepare your […]