GTA Accounting Insights

Category: Tax Audit

Reasons To Separate Business Bank Accounts In Mississauga

As a business owner, you might find that your savings are the only source of funding for now. That’s not unusual at all! Personal bank accounts and credit cards will continue to be used to make things happen with your new company or startup. However, as any business grows, it’s important to establish a separate…
Read Article

Crucial Accounting Tips For Better Start-Up in Mississauga 2022

As a person who wants to be good at starts ups, your first move should be to consider better accounting services in Mississauga. It is because accounting is the lifeblood of any business. Good accounting practices and tips can save your business a lot of money and help it to avoid costly mistakes. We all…
Read Article

Why You Should Never Do Your Own Taxes

If you’re like most people, doing your own taxes is probably at the bottom of your list of things to do. It’s time-consuming, confusing, and can be a hassle. That’s why it’s a good idea to leave it to the professionals at a tax firm. At a tax firm, you can get help from experienced…
Read Article

CRA Reviews and Audits: What to Expect

If you are a business owner, one of the things you have to worry about is the Canada Revenue Agency (CRA). The CRA can review your tax returns at any time, and if they find something wrong, they can audit your business. In this article, we will discuss what happens when the CRA reviews and…
Read Article

5 Tax Benefits in Canada You Should Know About

Did you know that people can get several tax benefits in Canada? These benefits can include things like the GST/HST credit, the Child Tax Benefit, and the Working Income Tax Benefit. In this blog post, we will discuss all of these benefits and how people can apply for them. We will also talk about when…
Read Article

Newcomers to Canada: The Tax Laws and Regulations You Need to Know

When you move to a new country, there are always many new things to learn. The tax laws and regulations can be especially confusing, especially if you’re not familiar with the system. That’s why it’s important to consult with an accounting firm or tax expert who can help you get up to speed. In this…
Read Article

5 Benefits of Filing Taxes Online: How to Save Time and Money in Mississauga

Filing your taxes can be a daunting task. It’s even more challenging if you’re trying to do it on your own. That’s why so many people choose to use accounting firms in Mississauga to help them with their tax filing. However, did you know that you can also file your taxes online? There are many benefits…
Read Article

What do Corporations Need to Know About Charitable Donations and Taxation in Mississauga

There are both similarities and differences between the tax treatment of charitable donations made by corporations and those made by individuals. It is generally true that a taxpayer may not claim more than 75% of their income for any given year, and unused donations may be carried forward for up to five years. Donations made…
Read Article

How is Cryptocurrency Taxed in Canada 2022

Are you wondering how crypto is taxed in Canada? According to the Canada Revenue Agency, cryptocurrency taxes in Canada are not always straightforward. If your investment is treated as a capital gain or a business income, you will pay either Capital Gains Tax or Income Tax on it. This is still not very clear. Our…
Read Article

What are the Penalties You Could Incur For Late Tax Filing in Mississauga?

Canada Revenue Agency(CRA) requires that individual taxpayers file their income tax returns on or before April 30 of every year, if that date falls on a holiday or weekend. As a means of ensuring compliance, the agency imposes fines and penalties. What is the Penalty for Filing Your Income Taxes Late? If you don’t owe…
Read Article