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Category: Taxes

12 Tax Season Habits Successful Solopreneurs Swear By

Introduction to Tax Season for Self-Employed Individuals As a self-employed individual, tax season can be a daunting time. Without a payroll department to handle things behind the scenes, it's up to you to manage your income, expenses, and taxes. This can be a challenging and overwhelming experience, especially for those who are new to self-employment. However, with the right habits and mindset, it's possible to reduce stress and make tax season more manageable. Understanding the Importance of Tax Planning Successful self-employed individuals understand that tax planning is not just about filing taxes...

Preparing taxes for...

Introduction to Contacting the CRA When someone passes away, it's essential to contact the government as soon as possible to take care of various tasks....

What is the...

Introduction to Self-Employment Tax You didn't quit your job to become an amateur tax expert. But here you are, staring at a number that says...

10 Tax Strategies...

Introduction to Freelance Tax Strategies When you make money from more than one source, taxes can quickly feel complex. These tax strategies are aimed at...

9 warning signs...

Introduction to Tax Preparation for Freelancers As a freelancer, managing your taxes can be a daunting task. Many freelancers don't realize their tax preparation system...

Can you save...

Understanding Severance Pay and Taxes Severance pay is a payment made to an employee when they leave their job, often due to layoffs, company restructuring,...

Ontario Trillium Benefit...

Introduction to the Ontario Trillium Benefit The Ontario Trillium Benefit (OTB) is a combined payment of three provincial benefits for Ontario residents. To receive the...

Latecomers: Sort through...

Introduction to Tax Relief Provisions The Income Tax Act states that the normal period for reassessment is three years from the date on which the...

Make the most...

Introduction to Retirement Tax Credit The retirement tax credit is a valuable benefit for individuals who have reached the age of 65 and are receiving...

What is the...

Introduction to Tax Liability and the Voluntary Disclosures Program (VDP) Tax liabilities continue to accrue, but to be fair to everyone, the Canada Revenue Agency...