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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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Flowchart of income flow between an operating corporation, holding Incorporation, and shareholders for tax savings

Tax Savings with a Holding and Operating Incorporation Structure

2 November 2024 TAX4 LESS.CA
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Business Tax-Individual, Corporations Business Tax, Finance, Incorporation, Individual

Incorporating your business can unlock a treasure trove of tax benefits, especially for partners looking to lighten their personal tax load. By establishing both a holding corporation and an operating corporation, you can strategically manage income distribution, minimize personal tax liabilities, and enjoy valuable tax-deferral advantages. Imagine being able to control when and how you are taxed on your earnings! This innovative structure not only protects your assets but also offers flexibility in financial management. Dive into the world of tax-efficient strategies and discover how you can maximize your savings while securing your business's future.

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#CanadianIncorporation #CorporateGovernance #DirectorsDuties #ShareholdersRights #CanadaBusinessLaw #CorporateCompliance #FiduciaryResponsibility #IncorporationCanada #BusinessOwnership #CanadianCorporations

Duties of Directors and Shareholders in Canadian Incorporation

28 October 2024 TAX4 LESS.CA
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Business Tax-Individual, Charities and Giving, Corporations Business Tax, Finance, Individual

Incorporating a business in Canada involves navigating a complex landscape of roles and responsibilities for directors and shareholders. Understanding these key duties is crucial for ensuring compliance and fostering effective governance. Directors are tasked with strategic oversight and financial health, while shareholders wield significant influence through their voting rights and investment expectations. This article delves into the essential responsibilities of both parties, highlighting the importance of collaboration for corporate success. Discover how effective governance can enhance your corporation's growth potential and stability in the competitive Canadian market. Read on to learn more about these vital roles!

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Tax4less.ca -Book Keeping Course

Bookkeeping: Services, Courses, Jobs, and Essential Tools

26 October 2024 TAX4 LESS.CA
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Business Tax-Individual, Corporations Business Tax, Finance, GST/HST, Individual, Payroll

Bookkeeping is the backbone of any successful business, ensuring financial records are accurate and organized. Whether you're a small business owner seeking local services, an aspiring professional looking for online courses, or someone interested in remote bookkeeping jobs, this guide has you covered. Discover the essential tools and apps that can simplify your financial management, and learn the difference between bookkeeping and accountancy. With options tailored to every need, you'll find the right mix of education and services to elevate your financial skills. Dive in to explore the world of bookkeeping and unlock your potential today!

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Five Benefits of Incorporating Your Business in Canada

25 October 2024 TAX4 LESS.CA
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Business Tax-Individual, Corporations Business Tax, Finance, GST/HST, Individual, Payroll, Tax credits and benefits for individuals

Incorporating your business in Canada can unlock a world of financial benefits that not only enhance your current situation but also secure your family's future. From the lifetime capital gains exemption that can save you significant taxes upon selling your business to the flexibility of income splitting with family members, the advantages are compelling. Imagine having greater control over your salary and dividends, facilitating generational wealth transfer, and accessing lower tax rates through the small business deduction. Discover how these benefits can transform your business and financial landscape—read on to learn more!

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Mastering Bookkeeping with QuickBooks Accounting System

21 October 2024 TAX4 LESS.CA
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Business Tax-Individual, Corporations Business Tax, GST/HST, Individual, Payroll

Explore an in-depth guide to QuickBooks versions, comparing features and benefits for businesses of all sizes. Learn how Tax4Less.ca provides top-tier bookkeeping services and hands-on QuickBooks training to help you streamline your financial management.

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