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December 10, 2024  By Fraser Simpson with a proprietary AI Agent The Canada Revenue Agency (CRA) has several methods and […]

Personal services businesses under scrutiny by CRA
A new CRA campaign is focusing on personal service businesses and will be ramping up their investigation of compliance with tax regulations in this area.

First of all you will get into the habit of setting money aside if you are not already doing it – you decide how much. You can contribute regularly or whenever you can, and you can withdraw from your account at any time, for any reason.

Consumer proposals are one way to deal with your debt that you cannot afford to pay, in certain circumstances. Let’s look at what a Consumer Proposal is and if it’s the right choice for you, from a tax debt perspective.

You can’t afford to pay your back taxes and the CRA has started collection actions against you. Many taxpayers and businesses find themselves in this situation for one reason or another; it is an everyday

As cryptocurrencies become more and more mainstream, the price of bitcoin and some other cryptos have soared following the long-awaited executive order by the Biden administration, regarding regulating digital currencies. The order called for a ‘coordinated and comprehensive approach to digital asset policy”

Some say yes, some say no. You owe a large amount of taxes and you are unable to pay it. It is a debt that will not go away, ever, so it is best to deal with it. One way to address it is to propose a payment plan to pay it in instalments

Fraud Awareness Month – A Tax Scam Worthy of a Seinfeld episode. You don’t just sit back and enjoy a good tax scam story… Or do you?

We’ve all been waiting for this, so finally! Remember the Panama Papers? Wouldn’t you just love to know who is behind the richest corporations in Canada?

You buy a property and in 10 years it doubles in value. Should this increase in value be taxed year by year? Of course not, right?