Tax Planning Archives - McCay Duff LLP Chartered Professional Ottawa Accountants

What to Expect when the CRA Contacts You

Identifying Legitimate Communications from the Canada Revenue Agency

April Wheeler - CPA, CGA
Tax Planning, Tax Preparation
1 minute of reading

Scammers posing as Canada Revenue Agency (CRA) employees continue to contact Canadians, misleading them into paying false debts. These persistent scammers have created fear among people who now automatically assume that any communication from someone representing the CRA is not genuine. This article will remind Canadians that the CRA does indeed contact taxpayers by phone, email and mail for legitimate reasons. The following tips will help Canadians identify legitimate communications from the CRA. To identify …

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Business Matters – February 2020

McCay Duff
Fraud Prevention, Tax Compliance, Tax Planning
20 minutes of reading

This month covers some best practices to protect your business and legitimate tax planning: Digital Management – Cyber Security: Mitigating the Risks to Cyber Attacks; Finance – Your Credit Score – What Does It Mean? Management – Protecting Your Business From Identity Theft; Taxation – Tax and Ethics. Digital Management Cyber Security: Mitigating the Risks to Cyber Attacks Cory Bayly, MBA Cyber attacks come in a variety of forms and with a variety of …

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Can an Owner-Manager Deduct Employment Expenses on their Personal Tax Return?

April Wheeler - CPA, CGA
CRA, Tax Audit, Tax Planning
3 minutes of reading

If you are an employee of a business, you may have the opportunity to deduct expenses on your personal tax return that are required under your contract of employment. To claim work-related expenses, an employee needs to obtain a certified Form T2200 from their employer. If you are a shareholder-employee of the company, can you deduct employment expenses? Based on the Tax Court of Canada’s decision in the 2009 Adler case, the answer appeared to …

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Contracting services via a corporation - CRA impact

Do you provide contracting services via a corporation? Do you understand the personal services business rules?

Jennifer Wakeham - BBA, CPA, CGA
CRA, Tax Planning
3 minutes of reading

In recent years there has been a trend for businesses to hire contractors to fulfill long-term positions rather than offering permanent employment. Individual contractors who provide their services through a corporation need to understand the risk that the Canada Revenue Agency (CRA) may assess their corporation to be a personal service business (PSB), especially if they are providing services to just one client. What is a PSB? In its simplest terms, a PSB exists where …

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Business Matters – December 2019

McCay Duff
Business Matters, Tax Planning
19 minutes of reading

Running your business has many facets including managing the workplace, taxation, planning for your future and dealing with technology. Each area has its own challenges so we’ve included a few tips to help you navigate these issues. Continue reading to learn more on the topics below: Taxation – Taxation of Stock Options; Digital Management – Do You Have a Spare Million? What You Need to Know About Canada’s Anti-Spam Laws; Management – Disaster Recovery Planning: …

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Tax Planning

Identifying Legitimate Communications from the Canada Revenue Agency

Business Matters – February 2020

Can an Owner-Manager Deduct Employment Expenses on their Personal Tax Return?

Do you provide contracting services via a corporation? Do you understand the personal services business rules?

Business Matters – December 2019

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