GTA Accounting Insights

Category: Personal Taxes

Benefits of Getting Your Personal Taxes Filled Online

Filing taxes is often an intimidating, daunting task. It’s complicated and time-consuming, and you want to ensure everything is done perfectly. Fortunately, there are plenty of options available today that make the process significantly more straightforward for those preparing personal taxes. In particular, filing your taxes online has become increasingly popular thanks to its speed, convenience,…
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What are Facebook Donations, and Can You Deduct Them From Your Taxes?

Have you ever considered donating to a charitable organization or cause and wanted to take advantage of the ease of Facebook donations? Making donations through Facebook has become increasingly popular, with over $2 billion raised for causes worldwide since its inception in 2015. Whether donating money to support disaster relief, fundraisers for families facing medical…
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5 Personal Tax Tips for New Parents in Toronto

As a new parent, it’s essential to understand the tax implications of your new status. There are several tax breaks and deductions that you may be eligible for, and it’s important to know what they are to take full advantage of them. In this post, we’ll go over five tax tips specifically for new parents,…
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How to Plan Your Taxes if You’re Newly Married

If you’re newly married, congratulations! Marriage is a big step, and it’s essential to ensure you’re prepared for all the changes ahead. One of the most important things to do is ensure your taxes are planned correctly. Don’t worry; we’re here to help! This post will walk you through tax planning for newly married couples.…
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Common Types of Legal Structure for Businesses In Mississauga

Your legal structure is important no matter what type of organization or business you run. The structures you chose help you determine the types of taxes you pay, how much personal liability you face and how easy or difficult it is to raise money. It’s important to take some time to understand each type of…
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Real Estate Taxes vs Property Taxes In Canada

Today, we are here with the most confusing topic of all time. But worry no more, as today is the day we resolve this confusion by helping you understand the real deal behind real estate taxes vs property taxes and how we debunk this topic. We are going to elaborate it first and then jump…
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Tax Tips For Self Employment and Summer Jobs In Canada

Some people admire summer while a few wait till it ends, but one thing remains the same! The entrepreneur inside each person and the spark of starting summer jobs in Canada. If you are considering starting a part-time job in Canada, there are certain tax tips you should know about. These tax tips will help…
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Tax-Efficient Ways To Withdraw Money from Your Business

The taxes involved with withdrawing money from a business can be complicated. There are many different tax-efficient ways, including whether or not the owner has generated enough revenue for themselves and if they plan on investing any additional funds back into their company while taking out cash to fulfill personal needs like improving lifestyle options…
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Bookkeeping Secrets Every Freelancer Needs to Know

Bookkeeping is a skill that not everyone has mastered. It can be difficult to find a bookkeeper who can keep up with the constant demands of your business. Bookkeeping is one of the essential parts of running a small business. It’s also one of the hardest things to learn for most freelancers. Why? Because every…
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Tax Plan For Canadian Doctors

As a Canadian doctor, you must be aware of the ever-changing tax rules and regulations. It is especially true for those who are self-employed or work outside traditional employment structures like solo practitioners because they may not have HR staff able enough to handle tax plan responsibilities alone! Canadian Doctors should have a plan for…
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