Insights
Practical tax and money answers for Canadian owners and professionals, written by the accountants who file the returns.
Understanding CPA Fees for Small Businesses in Canada
What CPA services actually cost in Canada in 2026, the factors that move the price, and how BC small businesses can plan for it.
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.
Beware of the RESP Tax Trap: How to Minimize Your Child’s Tax Liability
If you're a parent in Canada, you're probably familiar with the RESP (Registered Education Savings Plan). It's a popular investment vehicle that allows you to save for your child's post-secondary education while taking advantage of tax-deferred growth and government...
FHSA: How the First Home Savings Account Works, and What It Is Not
A First Home Savings Account does something no other registered account does: you deduct the contribution like an RRSP, and you take the money out tax-free like a TFSA. $8,000 a year, $40,000 in a lifetime, and it only works if you buy. The short answer$8,000 a year,...
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.
Understanding the Underused Housing Tax in Canada: A Guide to the Tax on Vacant Properties in Urban Areas
To prevent foreign buyers from purchasing Canadian residential properties and holding them vacant, the Canadian Federal government announced in the 2018 budget that they would implement the new Underused Housing Tax Act (UHT). And this new act is finally effective...
Top Accounting Websites for Small Business Owners: Resources for Financial Management
Explore the top accounting websites that Canadian small business owners can leverage to streamline financial management and enhance operational efficiency.
Meal expenses of long-haul truck drivers
Meal and beverage expenses of long-haul truck drivers are deductible at a higher rate than the 50% permitted for other transportation employees. During eligible travel periods in 2022, meal and beverage expenses are deductible at 80%. You are a long-haul truck...
Taxes for International students studying in Canada
If you are an international student studying in Canada, you may have to file a Canadian income tax return. You must determine your residency status to know how you will be taxed in Canada. Residency status For income tax purposes, international students studying in...
Are You Expecting Inheritance from Overseas?
If so, do you want to minimize your Canadian taxes on the future income to be generated from such overseas inheritance? If your answers to both questions are “yes”, you will have to initiate your planning process before the death of the person from whom the overseas...