Blog
Browse below to learn the latest news, trends, and tips regarding accounting and taxes.
Everything to Know About Income Splitting in Canada for 2025
Income splitting has long been a valuable tax strategy for Canadian families seeking to minimize their overall tax burden by redistributing income among family members in lower tax brackets. As we navigate through 2025, understanding the intricacies of income...
How to Calculate and Report Payroll Remittance in Canada
Managing payroll remittances is a crucial responsibility for Canadian business owners. Ensuring accurate payroll deductions and timely remittances to the Canada Revenue Agency (CRA) helps businesses remain compliant with tax regulations and avoid penalties. This guide...
Everything You Need to Know About Tax Treatment of Dividend Income in 2025
Dividend income is a crucial component of many Canadians' investment portfolios, providing a steady income stream while offering potential tax advantages. Understanding how dividends are taxed in Canada is essential for optimizing tax efficiency and avoiding...
Year-End Tax Planning Strategies for Canadian Business Owners
As the year comes to a close, Canadian business owners must take proactive steps to ensure their financial affairs are in order and that they optimize their tax situation. Effective year-end tax planning can help minimize tax liabilities, maximize deductions, and...
Step-by-Step Guide to Filing Personal Taxes in Canada
Filing your personal taxes in Canada is an essential financial responsibility for all individuals. Whether you're an employee, self-employed, or a student, understanding the process of tax filing can help you maximize deductions, claim eligible benefits, and avoid...
Step-by-Step Guide to Filing Corporate Taxes in Canada
Filing corporate taxes is a critical responsibility for businesses in Canada. Whether you’re a small business owner or managing a large corporation, navigating the Canada Revenue Agency’s (CRA) corporate tax filing requirements can be complex. However, understanding...
What Happens If I Don’t Pay My Taxes in Canada?
Paying taxes is a legal obligation for individuals and businesses in Canada. Failing to pay taxes or file tax returns on time can lead to severe consequences, including financial penalties, interest charges, legal action, and damage to your credit score. For many,...
CRA Tax Reporting Requirements for Corporations and Sole Proprietors
Navigating tax filing and reporting requirements can be overwhelming for businesses in Ontario, whether you operate as a sole proprietor or a corporation. The Canada Revenue Agency (CRA) has distinct obligations, deadlines, and processes for each business structure....