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Canadian Tax Brackets 2025: Your Complete Guide to Rates Changes
Key Takeaways: At a Glance New 2025 Federal Changes: The lowest federal tax bracket rate has effectively dropped to 14.5%. Basic Personal Amount: You can earn up to $16,129 federally before paying any income tax. Inflation Adjustment: Brackets have shifted upward,...
Top 5 Tax Mistakes BC Veterinarians Make Every Year (And How to Fix Them in 2025)
During 2024 CRA audits I defended for six BC veterinary clinics, the same five errors showed up every single time and costing owners $9,400 to $42,700 each. Grab coffee, tick the checklist, and never pay these again. 1. Paying PST on Exempt Medical Devices Mistake:...
T4A Slips in Canada 2025: What Every Business Must Know Before the February 28 Deadline
If you paid an independent contractor, consultant, or freelancer more than $500 in 2025, the CRA expects a T4A slip on their desk by February 28, 2026. Miss the deadline and penalties start at $100 per slip—and can climb to $7,500 for large volumes. Below is a...
Locum Vets: Employee or Contractor in BC? CRA Rules You Must Know
Locum Vets: Employee or Contractor in BC? CRA Rules You Must Know In the last CRA payroll audit I defended, a three-vet mixed practice in Kelowna owed $27,840 in CPP, EI and penalties because their “contractor” locum was really an employee. Below is the exact 4-step...
Best Accounting Software for Veterinary Practices in Canada – 2025 CPA Field Test
Best Accounting Software for Veterinary Practices in Canada – 2025 CPA Field Test I’m the same BC CPA who wrote the GST rebate guide—and for the last 8 months I ran every Canadian cloud-bookkeeping app through six real vet clinics (mixed, small-animal, and mobile)....
Can Vet Clinics Claim the GST Back on Equipment in BC? A CPA Explains
Can Vet Clinics Claim the GST Back on Equipment in BC? A CPA Explains I’m a CPA in Lower Mainland, who prepares about 60 veterinary tax returns every year, and the question I hear most after a big equipment purchase is: “Can we...
The Ultimate Guide to SKU Naming: 7 Proven Strategies for Efficient Inventory Management in 2025
Understanding SKU Fundamentals: More Than Just Product Codes In today's fast-paced retail environment, having an organized system for tracking and managing your inventory is crucial. At Ghumans, we've helped countless businesses implement efficient SKU naming...
Understanding CPA Fees for Small Businesses in Canada: What You Need to Know
Learn about CPA fees for small businesses in Canada. Understand the factors affecting costs, common fee structures, and tips for managing expenses to make informed decisions.
Finding the Best CPA for Your Small Business in Canada: How to Choose the Right Expert for Your Financial Needs
Discover how to find the best CPA for your small business in Canada with our comprehensive guide. Learn the essential steps to choose the right expert for your financial needs and ensure your business’s financial health.
Frequently Asked Questions about RESPs
Get comprehensive answers to all your questions about RESPs, including how they work, the benefits, drawbacks, contribution limits, withdrawal rules, and tax implications. Perfect for parents planning their children’s education savings.
Stress-Free Accounting: Tips for Managing Your Small Business Finances
Explore practical tips for Canadian small business owners to manage their finances stress-free, from separating personal and business finances to leveraging cloud accounting solutions.
Top Accounting Software for Small Businesses in Canada: QuickBooks vs. Xero
Compare QuickBooks and Xero to determine the best accounting software for your small business in Canada. Learn about key features, pricing, and benefits tailored to Canadian businesses.
Canadian Tax Brackets 2025: Your Complete Guide to Rates Changes
Key Takeaways: At a Glance New 2025 Federal Changes: The lowest federal tax bracket rate has effectively dropped to 14.5%. Basic Personal Amount: You can earn up to $16,129 federally before paying any income tax. Inflation Adjustment: Brackets have shifted upward,...
Top 5 Tax Mistakes BC Veterinarians Make Every Year (And How to Fix Them in 2025)
During 2024 CRA audits I defended for six BC veterinary clinics, the same five errors showed up every single time and costing owners $9,400 to $42,700 each. Grab coffee, tick the checklist, and never pay these again. 1. Paying PST on Exempt Medical Devices Mistake:...
Can Vet Clinics Claim the GST Back on Equipment in BC? A CPA Explains
Can Vet Clinics Claim the GST Back on Equipment in BC? A CPA Explains I’m a CPA in Lower Mainland, who prepares about 60 veterinary tax returns every year, and the question I hear most after a big equipment purchase is: “Can we...
BC PST for Online Marketplaces: A Guide for Sellers on Amazon, Etsy & More
Discover essential information about Records of Employment (ROEs) in Canada, including issuance, form details, dismissal codes, and where to get help.
OAS Clawback Explained for 2025 | Ghumans
Discover essential information about Records of Employment (ROEs) in Canada, including issuance, form details, dismissal codes, and where to get help.
Record of Employment (ROE) FAQs: Your Comprehensive Guide for 2025
Discover essential information about Records of Employment (ROEs) in Canada, including issuance, form details, dismissal codes, and where to get help.