The Canada Revenue Agency has processed 18.6 million individual tax returns so far during the 2021 tax season, with 12.2…
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CRA says it had 'two to three times' as many people calling with tax queries in 2021 tax season
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services , Payroll services
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Retirees: 3 Ways to Avoid the Painful 15% OAS Clawback
- J.M.J. Accounting & Tax Services Inc.
Categories: Corporate tax return services , Payroll services
Canadian retirees will lock horns again with the Canada Revenue Agency (CRA) over the recovery tax in the 2021 tax…
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The Three Cardinal Rules of Bookkeeping
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services
If you're considering a career as a bookkeeper, understand the primary responsibilities associated with this position. Managers and business owners…
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Tax Filing: 3 Quick Tips From the Canada Revenue Agency
- J.M.J. Accounting & Tax Services Inc.
Categories: Tax consultant , Tax return preparation services
April is almost over. And you know what that means: it’s time to file your taxes! If you don’t get your…
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CRA tax tips for the self-employed
- J.M.J. Accounting & Tax Services Inc.
Categories: Tax consultant
In a release on Wednesday, the Canada Revenue Agency (CRA) offered tax tips for the self-employed who received Covid-19 benefits. Read More Original Article Source…
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CRA to Retirees: 5 Ways to Avoid the 15% OAS Clawback
- J.M.J. Accounting & Tax Services Inc.
Categories: Corporate tax return services , Personal tax return services , Tax return preparation services
Retirees in Canada receive a significant amount of retirement income through the Old Age Security (OAS). The maximum monthly payment…
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Pattie Lovett-Reid: Don't even think about trying to outsmart Canada Revenue Agency
- J.M.J. Accounting & Tax Services Inc.
Categories: Personal tax return services , Tax consultant , Tax return preparation services
As the April 30 tax filing deadline rapidly approaches, it isn't wise to think you can outsmart the Canada Revenue Agency. They…
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Don’t let CRA tax interest relief tempt you into filing late, experts warn
- J.M.J. Accounting & Tax Services Inc.
Categories: Personal tax return services , Tax consultant , Tax return preparation services
Canadians who expect to owe tax for 2020 and are eligible for Ottawa’s recently announced one-year interest–free tax payment deferral should nevertheless file their returns by the April 30 deadline, tax practitioners say. Read More Original Article…
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Canada Revenue Agency: Big Changes Coming to the Canada Child Benefit in 2021
- J.M.J. Accounting & Tax Services Inc.
Categories: Professional Accountant
Raising kids is no easy task, and the pandemic made it more difficult. The frequent lockdowns have forced the closure…
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Bookkeeping Benefits
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services
"Bookkeeping for Dummies" states that without bookkeeping, it's impossible to measure the true success or failure of your business dealings.…
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CRA Passive Income: How to Turn Your TFSA Into Tax-Free Cash Flow
- J.M.J. Accounting & Tax Services Inc.
Categories: Tax consultant
Many Canadians allocate some of the contribution room in their Tax-Free Savings Account (TFSA) to store emergency funds for a…
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Hate Taxes? Then You will Love This Little 2021 Tax Cut
- J.M.J. Accounting & Tax Services Inc.
Categories: Corporate tax return services , Personal tax return services , Tax consultant , Tax return preparation services
A tax cut, no matter how small, is an expensive gift to a burdened taxpayer. Canadian taxpayers will receive a little…
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Canada Revenue Agency: Is the Tax Deadline Delayed for 2021?
- J.M.J. Accounting & Tax Services Inc.
Categories: Professional Accountant , Tax consultant , Tax return preparation services
COVID-19 brought sudden economic disruptions in 2020 and prompted the Canada Revenue Agency (CRA) to issue tax alerts. The early…
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CRA 2021 Update: CPP Pension Is Rising!
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services , Personal tax return services , Professional Accountant , Tax consultant , Tax return preparation services
Canada is a fantastic place to live as a senior citizen. The government has made remarkable efforts to create pension…
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Canada Revenue Agency opens applications for the Canada Emergency Rent Subsidy
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services , Corporate tax return services , Professional Accountant , Tax consultant , Tax return preparation services
Canada’s COVID-19 Economic Response Plan has helped to support millions of Canadian workers and businesses throughout the pandemic. Through the…
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TFSA limit for 2021 released
- J.M.J. Accounting & Tax Services Inc.
Categories: Corporate tax return services , Personal tax return services , Professional Accountant , Tax consultant , Tax return preparation services
The TFSA new contribution limit for 2021 has been officially released. That limit is $6,000, matching the amount set in 2019…
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CRA warns 213,000 Canadians that they might have to pay back CERB overpayments
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services , Corporate tax return services , Payroll services , Professional Accountant , Tax consultant
The Canada Revenue Agency says it's warning about 213,000 Canadians who may have been paid twice through the Canada Emergency Response…
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Canada Emergency Response Benefit (CERB) with CRA
- J.M.J. Accounting & Tax Services Inc.
Categories: Corporate tax return services , Payroll services , Personal tax return services , Professional Accountant , Tax consultant , Tax return preparation services
The Canada Emergency Response Benefit (CERB) gives financial support to employed and self-employed Canadians who are directly affected by COVID-19. If…
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Feds score big with extra funding of CRAs business compliance programs
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services , Corporate tax return services , Personal tax return services , Professional Accountant , Tax consultant , Tax return preparation services
The federal government has generated nearly six dollars in “fiscal impact” for every additional dollar of funding provided to the…
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Warning: Watch out for bad-debt tax schemes!
- J.M.J. Accounting & Tax Services Inc.
Categories: Bookkeeping services , Personal tax return services , Professional Accountant , Tax consultant
If a debt is owed to you (other than a debt under a mortgage or a debt resulting from a…
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