Engaged couples discussing their financial future—covering student loans, taxes, mortgages, and the importance of involving a professional accountant before marriage.
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!
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.
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.
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!
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!
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.
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!
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!
Congratulations on your new business venture! Incorporating your business is just the first step in a rewarding journey. To ensure your corporation thrives, it’s essential to navigate the crucial next steps, from appointing directors and holding organizational meetings to developing by-laws and issuing shares. This comprehensive guide will walk you through the process, helping you maintain compliance and set a solid foundation for future growth. Don’t let the complexities of corporate governance overwhelm you—discover how to keep your corporation in good standing and avoid potential pitfalls. Read on to unlock the secrets to successful business management!
