WFH tax deductions: Flat rate or detailed method?

WFH tax deductions: Flat rate or detailed method?

With more people working from home last year, the Canada Revenue Agency has simplified the process of claiming expenses for doing remote work. The changes apply specifically to 2020. There’s a new flat rate of $2 for every day an employee worked from home capped at...
Tax hikes needed to fund post-pandemic vision: CD Howe

Tax hikes needed to fund post-pandemic vision: CD Howe

GST and capital gains tax increases are the most likely candidates, report says The federal government’s latest throne speech signalled plans for major permanent spending increases — an effort that would have to be met with higher taxes, such as raising the GST and...
Good time to start tax planning now

Good time to start tax planning now

While tax planning may not be top-of-mind amid the pandemic, now is a good time to prepare, according to Jamie Golombek, managing director of tax and estate planning at CIBC. “I urge all Canadians, and particularly individuals and businesses directly impacted by...
Quickbooks Online and Amazon Business now integrate

Quickbooks Online and Amazon Business now integrate

Quickbooks Online now has the ability to integrate with Amazon Business. This integration allows small businesses, who use both platforms, to automate purchase reconciliation and categorization when making purchases on Amazon Business. To learn more about this, visit...
Teleworking Employees Can Deduct Home Office Expenses

Teleworking Employees Can Deduct Home Office Expenses

As an employee who, pre-COVID, commuted a distance from where you live to your office, you have long been aware that employment comes at a cost; wasted travel hours, transportation costs, “appropriate” clothing costs and so on. Employers do not cover these costs and,...