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Financial documents, calculator, and keys on a wooden table with a hand pointing to a paper labeled 'Loss Carry Back,' representing corporate tax refund strategy and CRA compliance.

How Loss Carry-Back Can Save Your Corporation Thousands: A CRA Strategy You Shouldn’t Ignore

14 July 2025 TAX4 LESS.CA
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Business Tax-Individual, Finance, Incorporation, Individual

Are you aware that your corporation could potentially save thousands of dollars in taxes? The Loss Carry-Back strategy, endorsed by the Canada Revenue Agency (CRA), is a powerful tool that allows businesses to offset current profits with previous losses. This means you can reclaim taxes paid in prior years, providing a much-needed financial boost. In this article, we’ll explore how this strategy works, the eligibility criteria, and the steps you need to take to maximize your savings. Don’t let this opportunity slip away—discover how to leverage Loss Carry-Back to enhance your corporation’s financial health today!

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Engaged couple holding hands while reviewing financial documents, calculator, and house keys on a table, symbolizing pre-marriage financial planning.

Pre-Nup Financial Talks: What Couples Must Discuss Before Saying “I Do”

13 July 2025 TAX4 LESS.CA
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Finance, Individual

Engaged couples discussing their financial future—covering student loans, taxes, mortgages, and the importance of involving a professional accountant before marriage.

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Infographic showing 5 costly mistakes new businesses make, including failing to incorporate, choosing the wrong incorporation type, mixing business and personal finances, ignoring legal liability, and DIY-ing corporate tax filings.

5 Costly Mistakes New Businesses Make — and How to Avoid Them

13 July 2025 TAX4 LESS.CA
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Business Tax-Individual

Starting a new business can be an exhilarating journey, but it’s also fraught with challenges that can lead to costly mistakes. Many entrepreneurs dive in headfirst, only to find themselves facing unexpected hurdles that could have been avoided with a little foresight. In this article, we’ll explore five common pitfalls that new businesses often encounter and provide practical strategies to steer clear of them. Whether you’re just launching your venture or looking to refine your approach, understanding these mistakes can save you time, money, and stress. Read on to equip yourself with the knowledge to thrive in the competitive business landscape!

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Leaving Canada? Here's What to Do with Your FHSA, TFSA, RRSP, and RESP Accounts

Leaving Canada? Here’s What to Do with Your FHSA, TFSA, RRSP, and RESP Accounts

7 July 2025 TAX4 LESS.CA
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Individual

Thinking of leaving Canada permanently? Don’t overlook your registered accounts. From FHSA and TFSA to RRSP and RESP, non-residency can trigger major tax changes, penalties, and missed opportunities. This expert guide breaks down what to keep, what to close, and how to avoid costly mistakes — plus how Tax4Less.ca Inc. can help you stay compliant every step of the way.

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Universal Basic Income

What Is Universal Basic Income?

7 July 2025 TAX4 LESS.CA
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Individual

Universal Basic Income (UBI) is a revolutionary concept aimed at providing every adult citizen with a government-funded, unconditional monthly payment. Designed to eliminate poverty and streamline social welfare systems, UBI offers a safety net in today's automated and gig economy. In Canada, the proposed Guaranteed Livable Basic Income (GLBI) could transform lives, with payments tailored to regional living costs. As discussions progress, the potential for pilot projects and national rollout raises questions about eligibility, funding, and the impact on society. Discover how UBI could reshape the future and address rising inequality in our rapidly changing world.

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How to Create a CRA My Account and Authorize Your Accountant

How to Create a CRA My Account and Authorize Your Accountant

5 July 2025 TAX4 LESS.CA
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Individual

Are you ready to simplify your tax management? Discover how to create a CRA My Account and effortlessly authorize your accountant for full access. With just a few easy steps, you can ensure your tax matters are handled efficiently, allowing your representative to file returns, make account changes, and submit documents on your behalf. Whether you're a sole proprietor or an individual, understanding the levels of authorization is crucial. Don't let tax season stress you out—learn how to set up your account and give your accountant the tools they need to help you succeed!

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Canada’s July 1, 2025 Tax Cut: From 15% to 14% — What You Need to Know

Canada’s July 1, 2025 Tax Cut: From 15% to 14% — What It Means for You and Your Business

2 July 2025 TAX4 LESS.CA
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Finance, Individual, Payroll, Tax credits and benefits for individuals

As Canada prepares to implement a significant tax cut on July 1, 2025, the reduction from 15% to 14% is set to impact individuals and businesses alike. This change not only promises to lighten the financial burden for taxpayers but also opens up new opportunities for growth and investment. Curious about how this tax cut could affect your wallet or your business strategy? Join us as we delve into the implications of this shift, explore potential benefits, and provide insights on how to navigate the new landscape. Don’t miss out on what this means for your financial future!

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CRA SPECIAL ASSESMENT PROGRAM

CRA Launches Special Assessments Program: Rental & Business Loss Claims Under Review

28 June 2025 TAX4 LESS.CA
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Corporations Business Tax, GST/HST, Incorporation, Individual

As post-tax season assessments ramp up, many Canadians are receiving unexpected review letters from the CRA — particularly those claiming rental or business losses. While it may seem tempting to handle these inquiries alone, doing so could cost you. In this article, Tax4Less.ca explains why professional representation can make the difference between accepted claims and denied deductions. Learn what CRA is targeting this year, how to respond effectively, and why getting expert help is more critical than ever.

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Work From home CRA Decuctions 2025

Tax Filing in Ontario for 2025: Work-from-Home Deductions Explained

7 February 2025 TAX4 LESS.CA
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Individual

As the 2025 tax season approaches, many Ontarians are discovering the benefits of work-from-home deductions. If you’ve worked remotely for over 50% of the time, you could significantly reduce your taxable income! This guide will walk you through the eligibility criteria, the expenses you can claim, and the best methods to maximize your tax refund. Don’t miss out on potential savings—learn how to navigate the complexities of tax filing and ensure you’re making the most of your deductions. Ready to take control of your taxes? Read on to find out more!

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Free tax Filing-Filing by Invitation

CRA’s Free File Pilot: Should You Accept the Invitation?

4 February 2025 TAX4 LESS.CA
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Individual

Are you one of the 2 million Canadians invited to participate in the CRA’s Free File Pilot in 2025? Before you accept, consider the implications. You’ll have no say in who prepares your taxes, and the qualifications of the preparer may be uncertain. With potential complexities in your tax situation, will the service provide the personalized attention you deserve? Plus, remember, any errors could still fall on your shoulders. While this program may offer convenience for simple returns, it’s essential to weigh the pros and cons carefully. Dive in to explore whether this opportunity is right for you!

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