Practical guides to Canadian personal and business tax, bookkeeping, payroll, GST/HST and dealing with the CRA, written for Ottawa individuals and small business owners by the team at BBA Tax. Need help with your own situation? Book a free intro call.
GST/HST registration is one of the most misunderstood obligations for Canadian business owners. Many individuals and corporations fail to register on time, while others register unnecessarily—both of which can lead to CRA penalties, interest charges, and audits.
Understanding which expenses a corporation can legally write off in Canada is essential for minimizing taxes and avoiding CRA audits. While corporations are entitled to deduct reasonable business expenses…
Understanding the difference between a T1 self-employed tax return and a T2 corporate tax return is essential for Canadian business owners.
The 2026 RRSP limit is $33,810 and the TFSA limit is $7,000. Here is how each account saves tax, when each one comes out ahead, and the deadlines and mistakes to watch.
Contractors in Ottawa face unique tax challenges. Unlike employees, they manage their own income, expenses, and tax remittances. Without proper planning, contractors can end up paying more than necessary.
If you’ve ever woken up to find your bank account frozen by the Canada Revenue Agency (CRA), you know the feeling of panic that follows. Suddenly, you can’t access your money, pay bills, or make business transactions — and you may not even understand why.
Practical, legal ways to lower your 2026 personal tax bill in Canada, from RRSP, TFSA and FHSA contributions to deductions, credits and income splitting, with the limits and deadlines that apply.
For many Canadians, nothing feels more stressful than opening the mailbox and seeing an envelope from the Canada Revenue Agency (CRA) marked “Review” or “Audit”.
Deciding whether to “hire an accountant or use TurboTax” is one of the most common questions Canadian taxpayers — especially small business owners in Ottawa — ask every tax season. The short answer: for simple, one-job, straightforward returns TurboTax (or similar DIY software) is often fine;
For small business owners in Canada, a CRA tax audit can be stressful, time-consuming, and potentially costly. Even when your records are accurate, the process can disrupt your operations and take focus away from running your business.
As a small business owner in Canada, one of the most important decisions you’ll make is how to pay yourself. Whether you're operating as a sole proprietor, a partnership, or a corporation, understanding how compensation works not only impacts your personal finances...
If you're a business owner in Canada, the words “CRA audit” can send a shiver down your spine. But here’s the truth: not all audits are cause for panic, and many are preventable. By understanding what triggers an audit from the Canada Revenue Agency (CRA), you can...