Taxes

As a Canadian taxpayer, it’s important to understand the differences between federal and provincial taxes. While both levels of government levy taxes on individuals and businesses, they do so for different purposes and at different rates. Federal Taxes The federal government is responsible for collecting taxes that fund national programs, such as healthcare, national defense, …

Understanding the Differences Between Federal and Provincial Taxes in Canada Read More »

There can be many reasons to consider filing bankruptcy. Most commonly, people are forced to file due to job loss, divorce, or medical problems that result in expenses that exceed coverage by medical insurance.  Often such financial calamities result in past-due, unpaid income tax, among other debts. In certain very specific circumstances, unpaid income tax …

Erasing Income Tax Debt In Bankruptcy Read More »

If you find that you are in an increasing amount of tax debt due to the most recent Tax Day or from a buildup of previous years’ debt, you may be feeling stressed, overwhelmed, and even defeated. It can be easy to ignore your increasing tax debt and bury your head in the sand. However, …

Everything You Need to Know About Tax Debt Read More »

Filing your taxes is a yearly occurrence that most Americans dread. But this routine doesn’t have to be a drag when you understand how to file them—and how to garner the biggest return on your form. From choosing a tax form to filing its items, here is a list of the ways in which you …

How to Maximize the Money from Your Tax Return Read More »

If you are working at a restaurant, you likely know that there seem to be grey areas when it comes to wages, tips, and taxes. Although bartenders and servers can walk away from a hectic night of work with a couple hundred in their pocket, there is a great deal of uncertainty about future taxes …

What Restaurant Employees Need to Know About Taxes Read More »

There are lots of digital platforms that have made filing income taxes easier for individual taxpayers and their families. The systems designed by top tax companies allow users to plug in financial information and receive accurate calculations on their projected returns. This is a great convenience for some, but it’s not always the better option. …

When You Should Definitely Work with a Tax Preparer Read More »

Filing tax returns can be a stressful exercise especially for small business owners. You often want to prepare your financial statements and reports in-house, but then this tends to set you up for small but costly mistakes. Here are five of the mistakes that taxpayers tend to make time and again.   Not keeping accurate …

5 Common Tax Filing Mistakes and How to Avoid Them Read More »

Because of the many software programs and online tax prep applications available today, many people today regularly file their own tax returns rather than seek professional assistance from an accountant. Some people have very simple returns, such as if you only have one W2 and no other relevant information that needs to be reported on …

Tax Time Worries:  3 Reasons You Should Let a Professional Handle Serious Tax Concerns Read More »