Insights
Expert advice on Ontario property taxes, CRA compliance, and investment growth.
Bookkeeping
Do I Need a Bookkeeper or an Accountant? A Decision Guide for Canadian Small Businesses
Bookkeepers record, reconcile, and maintain daily financial transactions. Accountants interpret those records for tax planning, compliance, and strategic decisions. The...
Read Article →
Bookkeeping
Bookkeeping vs. Accounting: What’s the Difference? (7 Key Differences for Canadian Businesses)
Bookkeeping is the day-to-day recording and organizing of financial transactions, while accounting uses those records to interpret results, prepare reports,...
Read Article →
CRA Compliance
What Is the Penalty for Filing Corporate Taxes Late? (6 CRA Rules for Late T2 Returns in Canada)
CRA charges a late-filing penalty of 5% of the unpaid tax due on the filing deadline, plus 1% for each...
Read Article →
Corporate Tax
What Is Corporate Tax Filing in Canada? T2 Return Explained (6 Core Rules)
Corporate tax filing in Canada is the process of preparing and submitting a T2 Corporation Income Tax Return (T2 return)...
Read Article →
Corporate Tax
Corporate Tax Filing Deadline for 2025 in Canada: T2 Filing Due Dates, Payments & Instalments
The T2 Corporation Income Tax Return must be filed within six months after the end of each fiscal period. If...
Read Article →
Corporate Tax
When Is the Corporate Tax Filing Deadline in Canada?
Canadian corporations must file their T2 Corporation Income Tax Return within 6 months after their tax year-end, pay their balance...
Read Article →
Canadian taxpayers can pay tax owing to the Canada Revenue Agency online through four authorized methods: online banking with your bank or credit union, the CRA’s My Payment debit service...
A small business in Canada has 1–99 paid employees. Medium-sized businesses have 100–499 paid employees, and large businesses have 500+ paid employees. This employee-based definition is set out in...
Square has reported Canadian merchant transaction data to the Canada Revenue Agency (CRA) under a 2017 Federal Court order. The CRA retains authority to request merchant information from payment...
Independent contractors in Canada report self-employment income on a T1 personal return using Form T2125 (Statement of Business or Professional Activities). You enter gross revenue, subtract eligible...
Nobody warns you about the tax confusion when you incorporate. One moment you are celebrating the big move, corporation set up, business account open, official stamp on the certificate. Then someone...
Canadians can legally do their taxes for free in three specific ways: by filing a T1 Income Tax and Benefit Return using eligible CRA-certified NETFILE software with a free option, by filing through...
Small Business Tax Checklist for CRA-Compliant Filing Small business owners in Canada need a defined set of documents to file taxes correctly, depending on whether they operate as sole proprietors or...
Running a small business in Canada comes with many responsibilities and one of the most critical is knowing your tax deadlines. Missing a filing or payment date can result in interest charges and...
Filing taxes as a self-employed individual in Canada can feel overwhelming, especially if you’re a sole proprietor managing your own business. This guide explains how to file self-employed taxes step...
Don’t just read about smart tax moves, make them!