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How to File Your GST/HST Return Using CRA My Business Account

Ronika Khanna CPA,CA

As of January 1, 2024 Revenue Canada will require all business (except for a handful of exceptions such as some financial institutions and charities) to file their returns electronically. Please note that this tutorial is for simple GST/HST returns. If you haven’t, you take a look at my blog post on how to do it.

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Tax Deductions for Business Vehicles: Section 179 vs. Bonus Depreciation

CTP

When it comes to vehicle tax deductions, tax planners face a number of challenges—from keeping up with recent changes to the tax rules to educating your clients on the widespread misinformation about who is actually eligible for which deductions. If the business has more than $2.7 What does this deduction look like?

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Who pays VAT – Buyer or Seller?

Accounting Insight

That’s why we share plenty of knowledge on the topic, from an in-depth introduction to EU VAT to how VAT changes when trading between different EU countries. With this specific blog, we explain who collects VAT and what governments expect of businesses. What’s GST? Consumers pay GST, and businesses remit it to the government.

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7 Big Tax Mistakes Business Owners Make & How to Fix Them

LyfeAccounting

When you work for someone else as an employee, your taxes are automatically withheld and paid by your employer to the IRS and state agencies throughout the year. For most employees, this is why little to no taxes are due when they file their tax returns. Mistakes that cost them time and you better believe, MONEY.

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Overview of U.S. taxes on foreign income for individuals

ThomsonReuters

taxation, potentially resulting in a reduced or zero U.S. Jump to: What is foreign income? What is FEIE? How to report foreign income What is Form 1099-DIV? Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. tax benefit, specifically applies to this category.

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How to Become a Freelance Accountant: 9 Tips for Succeeding in Freelance Accounting

Snyder

With the rise of online platforms like Upwork, Fiverr, and Remote.co, more and more people are working remotely to offer their services to businesses worldwide. This means that nowadays, freelancers have greater opportunities to find work and grow their businesses faster. And here’s how you can prepare yourself.

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Last Week in Payroll: Minimum Wage

ThomsonReuters

The last federal minimum wage rate increase took effect on July 24, 2009 when the rate was increased to $7.25 of hourly workers were paid at the federal minimum wage rate or below (this was the first year when such data began being collected). The minimum wage rate has been a hotly debated topic at the national level for some time.

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