There is no hard-and-fast method for differentiating between a hobby and a real business based on a tax return. There is no way to tell a business from a hobby except by the use of...
Posted by Elliot Kravitz, ATP on 07/25/2019
As per research and entrepreneurial statistics, Canada is the perfect place to start a business. The low cost of living as well as the enormous government support that the natives...
Posted by The Accounting and Tax on 07/18/2019
If you are a Canadian and own a small business in your home, then you may wish to pay a lower amount of tax and may look for opportunities to claim tax write-offs. You can easily assume...
Posted by The Accounting and Tax on 05/27/2019
You can be a freelancer, a self-employed worker or even a small business owner; but, when you’re in Canada, the Canadian Revenue Agency (CRA) will always handle your income tax...
Posted by The Accounting and Tax on 05/26/2019
It is so tough figuring out how to pay off debt fast if you're self-employed. You don't know what strategies are effective and where to start. You're not sure when your...
Posted by LLOYD J CAZES CPA on 05/20/2019
The 2017 tax cuts had a bad and fair press, and it is expectedly so. Its proponent promised to increase investment and wages and also assured everyone it would pay for itself of which...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 05/01/2019
When it comes to tax treatment, there is a difference between unreimbursed business expenses for partners and S corporation shareholders. Also known as ordinary and necessary expenses,...
Posted by Elliot Kravitz, ATP on 04/17/2019
Rejecting tax extension application through e-file or on paper isn’t really something that the IRS would do a lot of times. However, they have rejected tax extension applications...
Posted by Elliot Kravitz, ATP on 04/17/2019
If the progressions to assess rates and to withhold over the previous year make them scratch your head, help is here right now. The Internal Revenue Service (IRS) is putting forth...
Posted by YourIRSTaxAdvocate.com on 04/11/2019
