Time’s Up: CRA’s 100 Day Mandate for Improvement
After years of frustration on the part of tax professionals and taxpayers alike, the Finance Minister ordered the Canada Revenue Agency to clean up its act in 100 days. Specifically, the improvement plan was to run from September 2 through December 11. Finance Minister and Minister of National Revenue, Francoise-Phillippe Champagne instructed CRA to fix “unacceptable wait times and service delays.” Time’s up this week and CRA has released an update on progress. What gets measured, gets done. Let’s see what CRA’s metrics show.Requirement vs. Choice: It’s the Crux in Claiming Commission Sales Expenses
In order to be eligible for a deduction for sales or travel expenses under subsections 8(1)(f) and (h) of the Income Tax Act, taxpayers must show that they worked on a commission-based income.
Evelyn Jacks: Ostriches Aren’t Smart; Tax Penalties Are Expensive
Well it's that time of the year again. . .tax audit season. The ostrich approach is one way to cope, but not the smartest.
Q and A: Setting Up Business in the U.S.
The U.S. has a number of different business structures available when conducting your affairs in the U.S., whether your business is rental property or operating a viable small business.
Employee Stock Options
An employer may provide its employees the opportunity to purchase shares in the employer’s corporation at some future date, but at a price that is the current market price when the option is granted (the exercise price).
Volunteer Firefighters Can Claim Non-Refundable Credit
Volunteer firefighters can claim an amount of $3,000.
The Smart, Savvy Young Consumer
A perfect graduation gift, The Smart, Savvy Young Consumer by award winning Consumer Reporter Pat Foran will provide smart tips on saving, investing, and preparing for the future.
