Canadian Income Tax

//Canadian Income Tax

Contractors look out!

It is no secret cash is king when it comes to working with contractors. Whether it’s at the customer’s request or the contractor’s, cash if often the preferred method of payment due to the perceived benefits. Customers typically want to save the 13% HST and contractors often want to avoid paying income tax. Further cash [...]

Contractors look out! 2017-09-01T10:44:38+00:00

Accounting and Tax considerations for Sole Proprietors, CCPC and Partnerships

This article is written by the Chartered Professional Accounting firm of Edelkoort | Smethurst | Schein as our way of explaining in simplistic terms, the tax implications of operating sole proprietorships, partnerships, and corporations in Canada. Starting with setting up shop as a sole proprietor, and then progressing to establishing a corporation. In between, you [...]

Accounting and Tax considerations for Sole Proprietors, CCPC and Partnerships 2017-08-17T16:13:36+00:00

Edelkoort Smethurst Schein Chartered Professional Accountants LLP – Overview of our Firm

Welcome to the Chartered Professional Accounting firm of Edelkoort, Smethurst and Schein. We are a small CPA firm located in Burlington, Ontario and loaded with expertise and experience, and customer care! Please take a moment to read this overview, and if you are interested or need to discuss further, please contact us – we would [...]

Edelkoort Smethurst Schein Chartered Professional Accountants LLP – Overview of our Firm 2017-09-12T16:57:02+00:00

Canada Revenue Agency: MyAccount

In recent years the Canada Revenue Agency (CRA) has done a lot of work in their online services to make paying income taxes, tracking benefits and refunds, and updating information easier.  The MyAccount service has been around since early 2015 and provides a great portal for taxpayers to access their information in the CRA’s records.  [...]

Canada Revenue Agency: MyAccount 2017-05-02T15:27:40+00:00

Tips & Gratuities

Each year our firm receives questions about the tax implications of tips, both as an employee receiving them and an employer running a service business. The hospitality industry in Canada is a multi-billion dollar industry.  From mega hotels to the corner bistro, many Canadians make their living in the service field.  Canada’s culture has long [...]

Tips & Gratuities 2017-02-17T11:55:20+00:00

2016 Canadian and U.S. income tax planning

This is a brief summary of some key considerations and due dates for your 2016 personal income tax filings. Please feel free contact our office to schedule a consultation or ask any questions you may have. CANADIAN TAX CONSIDERATIONS • 2016 Individual income tax filing deadline is Monday, May 1, 2017 -  Canada Revenue Agency [...]

2016 Canadian and U.S. income tax planning 2017-02-15T15:49:18+00:00
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