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Brenda Parker Articles

Guest post by: Brenda Parker

Accounting - Beyond the Tax Return - Click To Read Article
How a proper accounting system can help you run your business and improve your botton line!

When Your Business Requires Wheels - Business Vehicle Expenses - Click To Read Article
What expenses can your business claim for operating a motor vehicle.

What's New for 2009 Personal Tax Returns ? - Click To Read Article
An outline of some of the main changes made to the T1 personal tax return for Canadians in 2009.

Back to School tax tips #1 - Click To Read Article
Expense for post secondary education can leave the family in a tailspin. At this point, the questions start coming up as to what can be recovered at tax time.

So who must file an income tax return for a given year? - Click To Read Article
It's now an annual ritual. Once the new year rolls around, the focus changes to income tax. For many, their reason for filing is clear cut. They have taxable income, so they must report it or face the consequences. However, for others, their reason for filing is not always clear to them. If they have no income, they may figure that there is no need to file. However, there are reasons to file other than simply to pay tax on earnings.

Children's fitness tax credit - Click To Read Article
Federally, a non-refundable tax credit is available to parents who incur costs associated with registering their child in a prescribed program of physical activity. The child whom the parent claims this expense for must be under the age of 16 at the beginning of the year or if eligible for the disability credit, under the age of 18. A parent is allowed to claim up to $500 of expenses per year, per child. For 2009, the tax credit is equal to 15% of the expense claimed. For children eligible for the disability credit, an additional $500 in expenses can be claimed if the total expenses are at least $100. You should receive or ask for a receipt from the organization that provides the prescribed activity.

Bartering 101 – Tax Implications - Click To Read Article
Bartering between businesses and the tax implications involved.

Tax Time 2009 Q & A - Click To Read Article
Some often asked tax questions and answers for 2009.

Tax Free Savings Account - Click To Read Article
An overview of TFSA (tax free savings accounts)

Starting Up Your Own Small Business? - Click To Read Article
Accounting and tax issues to consider when starting up a new small business.

Remembering Taxable Benefits - Click To Read Article
An overview of taxable benefits.

Is Your Business Storm Proof? Part 1 - Click To Read Article
What can you do to keep your business healthy and in the black especially during difficult economic times?

Is Your Business Storm Proof ? - Part 2 - Click To Read Article
More ideas on how your business can thrive even during tough economic times!

Home Renovation Tax Credit - Click To Read Article
What you need to know about the Home Renovation Tax Credit to prepare your 2009 tax return.

Dig hard for those valuable tax receipts and reap the rewards! - Click To Read Article
Collecting up all your tax receipts can save your a lot of money when filing your income tax return!

Office Technology Q & A - Click To Read Article
Questions that I get from my clients centering around : accounting software, backups, electronic payments and security.

Registered charities perform valuable work in our communities. - Click To Read Article
Donations in the form of cash or gifts in kind made to a registered charity or other qualified donees may reduce your taxes. A list of registered charities is provided on CRA's website. The receipt for your gift should include the value of the consideration given. If you receive something in return such as an event ticket, for example, you must deduct the value of this "advantage", as CRA calls it, from the eligible amount of your donation. The other important thing to keep in mind is that your donation receipt should include the registration number of the charity. Otherwise, it is not an official donation receipt for tax purposes.

Moving Expenses - Click To Read Article
You may deduct moving expenses from your income if you move your residence in order to earn salary, wages, or self-employment income in Canada. Your move must result in your new residence being at least 40 kilometres closer to your new place of work or business. This distance is calculated based on the shortest normal route open to the travelling public.

Back to School tax tips # 2 - Click To Read Article
Expenses for post secondary education can leave the family in a tailspin. At this point, the questions start coming up as to what can be recovered at tax time.

Wake Up Sleepy Head, It’s Time to Go to Work - Click To Read Article
As an employee there are a number of expenses you may be able to deduct for income tax purposes if you are required to maintain a home office.

The ABCs of the Harmonized Sales Tax for Business - Click To Read Article
The basics of HST / GST for businesses

Are you an Employee or a Self Employed Individual ? - Click To Read Article
How to determine if you are or should be an employee or a contracted self employed worker.





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