Articles by: Sohail Afzal

Category: Sohail Afzal

3 Reasons You Should Start Filing Your Taxes Online

Every season, millions of users have to pay their tax and to do that, they need to decide whether to file the tax online or in person. Choosing any one of these options helps them carry out all the necessary processes with ease. It is the nature of the tax and the process that determines…
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Here’s What You Need To Know About Your Airbnb Rental Income in Canada

Since the introduction of short-term rental services, there has been an effort from both provincial and government to provide a better understanding of rules and regulations. These guidelines are for people who want to participate and earn from services like Airbnb. Here’s what you need to know about your Airbnb rental income in Canada. One…
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What is the Difference Between Factual and Deemed Residence and How Does It Affect Cross Border Taxes?

Residency is a crucial matter for the Canadian tax system. Residents of Canada must declare all their income and pay taxes on it. At the same time, the non-residents are only taxed on their Canadian-sourced income. Therefore, residency status is essential to determine your tax liability in Canada. This is why we will discuss the…
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All About the U.S./Canada Cross Border Tax Treaty

The United States is one of the few countries that taxes its citizens on the money they make in the United States and anywhere else. In this article, you will expand your knowledge regarding all about the U.S./Canada cross-border tax treaty. The united states has a cross-border tax treaty with several countries that directly affect…
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How to Reduce Double Taxation by Using U.S./Canada Cross Border Income Tax Treaty?

The U.S./Canada border income tax treaty solves the primary problem of paying taxes for citizens living in a foreign country. This tax treaty helps reduce double taxation as the citizens are no longer required to pay taxes in a foreign country. Let’s understand it with the help of an example. Suppose you’re a Canadian citizen…
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2 Ways to Deduct Your Taxes if You Are A Restaurant Owner in Mississauga

It’s the time of the year for paying taxes again. We understand that it could be a lot of hassle to prepare and file the taxes yourself if you are a restaurant owner in Mississauga. However, let us tell you that you might save lots of money by knowing about the way by which you…
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What are Stock Options, And How Are They Taxed in Canada?

Stock options give investors the option, but not the obligation, to buy and sell a stock at the price and date of their choosing. You might be wondering why you should choose to buy an option instead of a share? And, how are options taxed if you plan on buying them? Well, let us break…
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How to Find the Best Bookkeeping Service for a Small Business?

Tracking your business finances is essential to manage the cash flow, among other things. That’s why every business, big or small, needs bookkeepers to ensure that all the transactions are recorded and maintained. If you are a startup, you might not think you need a bookkeeper, but that could cause problems. You might want to…
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3 Bookkeeping Clichés That You Should Definitely Follow

many advantages. It is always recommended to visit the dentist as soon as the problem arises. It could be tooth decay, bad breath, or anything else. The reason is that you might save yourself from intensive pain tomorrow if you get the proper treatment today. Although it would be a little inconvenient visiting the dentist…
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How to Clean Up Messy Bookkeeping?

Starting your venture is fun and exciting. However, running it successfully is a challenge. You have a lot of responsibilities and tasks to look after. Sometimes, you may not pay much attention to a few tasks like bookkeeping, and it falls behind. Most business owners overlook bookkeeping. However, sound bookkeeping is vital to running a…
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