Wealth Developer Canada offers a full range of accounting services. This includes a variety of tax services, small business up tp 5 employees, payroll, CEWS accounting and corporate tax. Our features and services are here to serve clients in all Canadian major cities, as well as outside of major urban...
Are Maternity Benefits Considered Taxable Income?
Any employment insurance or special benefit that you receive including maternity leave and parental benefits are considered taxable income and you need to be recorded on your tax return but don’t worry you’ll receive a T4 E and you and I will help you figure out how much taxes that...
BIRCH & BENJAMIN-2021
BIRCH & BENJAMIN-2021-
Fearless Accounting
It has been said that there are only two guarantees in life. Taxes and death. So why is for many, having an accountant file their taxes People don't realize that a number of individuals in the country in fact vast majority of them do not or have not filed taxes...
Are Gratuities Taxable?
One of the most common mistakes is not accounting for all cash you earned that’s right tips are taxable income income can result in significant penalties and information missing from your turn can be costly. If you’re working in the hospitality industry and getting tips through a side cake make...
What Records Do I Need To Keep?
Be sure to keep ALL your documents for at least six years pertaining to INCOME, EXPENSES, EMPLOYMENT, BUSINESS, LIVING SHELTER, and when in doubt DON'T THROW IT OUT the CRA can request them at any time if the return is selected for a detailed review. If your return is reviewed...
What If Information Slips Were Not Received Or Submitted?
No matter whether they were sent or not you’re responsible for your information slips if you forget to report your information slips twice in a four year. Your face severe penalties and your return will be audited. To avoid missing information slips you can make sure you let Cra and...
I Worked Outside Of Canada Do I Have To File In Canada?
If you went to school I worked outside the country but you have significant residential ties to Canada such as a home spouse or dependent you need to fill out a Canadian tax return even if you don’t have significant tires you might still need to file a return if...
If I Have Done My Taxes Already, Can I Make Changes?
If you have paperwork to support your claims you can go back up to 10 years to request adjustments to claim credits and deduction that you may have missed before. Plus there’s no limit to adding any income to your past returns. For example let’s say you found an old...
Can You Write Off Anything If You Work For Yourself?
You might be able to claim some of your business expenses to reduce taxes that are payable. However these expenses must be work related meeting you won’t be able to claim personal expenses for example you can’t claim the cost of dry cleaning your hair styling products you use for...