Seniors Targeted? The Tax Audits Begin
The Canada Revenue Agency (CRA) routinely reviews or audits tax filings, including personal, trust, corporate, and HST returns. The most common types of reviews that focus on personal tax returns include, but are not limited to, Pre-Assessment Reviews, Processing Reviews, and the Matching Program. This year there is a new focus: the Multigenerational Home Renovation Tax Credit introduced to help families better care for their elders. But claiming it, like other tax benefits, comes with a tax snare. Read on to learn more.Internet Businesses: Did you Know About Schedule 88?
T2 filers must complete Schedule 88, effective with year-ends beginning 2013. This form is more detailed that the new “Internet Business Activities” added to schedule T2125 of the T1 return however, in both cases the information is to be filed with the tax return.
Stay Away from Charity Schemers
If you participate in an abusive charitable donations tax shelter, you’re opening yourself up to a sure audit.
Author Catherine Bell Speaks on the ABCs of Professionalism
Catherine Bell, author of Empower Your Presence, recently spoke at the Ad & Sales Club in Brockville, ON about the importance of the ABCs of professionalism. What are the ABCs?
Sharpen Your Tax Investigative and Research Skills
At tax time your clients are counting on you to prepare an accurate tax return that will provide them with the maximum benefit. Learn how to dig deeper on a line-by-line basis with T1 Professional Tax Preparation – Advanced.
When Should You Draw from CPP?
Should you draw from the CPP early?
Winn$tock – Think Big for a Great Cause
Just a few more days until Winn$tock and to join Knowledge Bureau in helping raise $100,000 in support of The Movement Centre of Manitoba.
