Toronto Tax Accountant – Jenny Lin, CPA, CGA Home - Toronto Tax Accoun...

This post will provide a brief overview of the subject matter from the perspective of a small business owner and assumes the following:
The business is incorporated and qualifies as a Canadian Controlled Private Corporation (“CCPC”)
It operates in Ontario...

If you fail to file you tax return and/or fail to pay your income taxes to the Canada Revenue Agency on time, significant penalties and interest can be added to your tax balance owing. Moreover, the CRA has significant powers under the Income Tax Act...

If your income tax return has been reassessed by the Canada Revenue Agency with the outcome that you owe significantly more taxes than you initially thought, here is a list of steps for filing a Notice of Objection:
First, contact the CRA and meet with an accountant to determine why you’ve been reassessed. You may conclude that certain deductions were not valid. On the other hand, you might decide that the reasons for CRA’s reassessment was unreasonable and that...

Prior to 2000, professionals such as Chartered Accountants and dentists were not allowed to incorporate their practises. This changed in the 2000 Ontario Budget when the Ontario government announced its intention to allow regulated professionals to incorporate...