Tax Tips & Financial Wisdom
Expert advice on tax planning, corporate finance, and growing your Canadian business.
What is the Dividend Tax Credit Canada?
How can the Canada Dividend Tax Credit help reduce your tax payable? The Federal Dividend Tax Credit provides eligible and non eligible dividends with a reduction in tax. Learn how to calculate your Dividend Tax Credit and more.
Warning: 2022 Underused House Tax (UHT) Returns - HUGE Penalties.
Warning: 2022 Underused House Tax (UHT) Returns. HUGE penalties for individuals and non-individual owners!
Claiming Rent on Taxes
Claiming rent on taxes is applicable only in select provinces and situations. Are you eligible to claim rent on your tax return? Find out how to claim rent on taxes in Ontario and Canada with TaxBuddy Canada.
What is Vacation Accrual: Everything You Need to Know
A comprehensive guide on what vacation accrual is, why it's important and how you can calculate it. Includes everything you need to know about leave pay, accrued time off and more!
How to Get Certification from the Payroll Association Of Canada
Learn more on how to obtain certification from the Payroll Association of Canada and what exactly is the Payroll Association of Canada (PAC). A short overview of the requirements and process for taking the examination and tips on preparing for it.
The Ultimate Starting a Business Checklist: A Comprehensive Guide for Success
Looking to start a business in Canada? Follow this detailed checklist to ensure you cover all the essential steps for a successful launch. From market research to legal compliance, financing to marketing strategies, this guide has got you covered. Start your entrepreneurial journey on the right track with our comprehensive checklist.
How to Start a Catering Business: Simple Steps to Success
Setting up a catering business in Canada requires prior planning and an in-depth understanding of your competitors and target market. This helps you offer products and services that will make your company stand out from the rest and beat the stiff competition in the industry.
How Do I Find My NAICS Code, and How Is It Essential for My Business?
North American businesses often require a NAICS industry code. This number identifies the industry where a company conducts operations.
Simple / Basic / Easy Bookkeeping Software 2021
Easy bookkeeping software is your business’ ticket to success. What should you look for in simple bookkeeping software? What functions do you need? Get TaxBuddy Canada’s recommendations for the best basic bookkeeping software 2021.
Bookkeeping Systems for Small Business
Bookkeeping systems for small business are essential for success. Learn how to create a bookkeeping system in Excel, automated programs, and more. For virtual bookkeeping and more to keep your business moving, contact TaxBuddy Canada.
Why Every Business Needs a Financial Forecast (and How to Create One)
Discover why financial forecasting is essential for business success. Learn how to build an effective financial forecast tailored to Canadian companies.
Why Client Success Is the Secret to Long-Term Business Growth
Explore how prioritizing client success can foster sustainable business growth. Understand why client success is essential and learn strategies to develop a results-oriented approach.
Top Payroll Software for Canadian Businesses: My Personal Picks
Explore the best payroll software for Canadian businesses in 2025. See top picks based on compliance, features, pricing, and ease of use.
Time Management Tips for Busy Business Owners Handling Finances
Explore effective time management strategies tailored for Canadian entrepreneurs managing their finances. Boost efficiency, alleviate stress, and simplify financial tasks.
The Importance of Proper Bookkeeping for Small Businesses
Discover why proper bookkeeping is essential for Canadian small businesses. Learn how accurate records support tax compliance, cash flow, and business growth.
The Haunting of Maple Street: A Canadian Business Owner's Tale
Read more about this topic...
The Future of Sales: Trends Every Business Should Watch
Learn about the future of sales and the key trends driving Canadian business. Learn how artificial intelligence, automation, data-driven solutions, and omnichannel strategies impact sales growth.
Tax Strategies Every Business Owner Should Know Before Year-End
Discover essential tax strategies for Canadian business owners before year-end. Learn how to maximize deductions, defer income, and reduce tax liability.
Tax Planning Strategies to Reduce Liabilities for Business Owners
Learn key tax planning strategies for Canadian business owners. These tips can help you lower liabilities legally, boost cash flow, and stay compliant with the CRA.
Streamlining Financial Processes: Best Practices for Business Owners
Understand how optimizing financial processes can lower expenses, save time, and enhance profitability for Canadian entrepreneurs. Explore automation solutions, internal controls, and additional resources.
Scaling Your Business: Financial Strategies for Sustainable Growth
Explore tailored financial strategies that ensure sustainable growth for Canadian businesses. Manage cash flow, build a solid expansion plan, and take a strategic approach to growth.
Payroll Compliance: How to Stay on Top of Regulations
Ensure payroll compliance across Canada with this detailed guide. Discover how to fulfill CRA requirements, prevent penalties, and handle employee payroll efficiently.
Optimizing Business Operations: How to Improve Financial Efficiency
Acquire practical strategies to enhance financial efficiency and optimize business operations within Canada. Streamline processes, minimize expenditures, and augment long-term profitability.
Mastering Scheduling: How I Keep Executives Organized and Efficient
Examine how Canadian executives enhance organization and improve efficiency by mastering scheduling. Uncover targeted strategies for effective calendar management, prioritizing tasks, and optimizing time blocking.
Lessons from a CEO on Decision-Making Under Pressure
Uncover essential insights from a CEO regarding efficient decision-making in challenging situations. Understand how Canadian leaders manage unpredictability and foster success in high-pressure settings.
Key Metrics for Measuring Customer Success and Retention
Track these key customer success and retention metrics. They can help Canadian businesses improve loyalty, satisfaction, and long-term growth.
How to Prepare for a CRA Audit: What Every Business Needs to Know
Worried about a CRA audit? Discover helpful tips on how to get ready, what you can expect, and simple ways your Canadian business can stay compliant to avoid penalties.
How to Make the Most of Your Meetings with Your Accountant
Explore strategies by which Canadian business owners can enhance the productivity of consultations with accounting professionals. Prepare well, ask smart questions, and improve your financial planning.
How to Inspire and Motivate a Sales & Client Success Team
Discover how to inspire and motivate your sales and client success team. Use leadership techniques, align goals, and implement recognition strategies. These methods are designed for Canadian businesses.
How Financial Data Can Help Businesses Make Smarter Decisions
Learn how using financial data helps Canadian businesses make smarter, quicker, and more strategic choices. This leads to growth and reduces risk.
How Efficient Payroll Management Improves Employee Satisfaction
See how effective payroll management enhances employee satisfaction. Discover best practices for ensuring accuracy, timeliness, and compliance within Canadian companies.
How Cloud-Based Accounting Can Save Your Business Time and Money
Discover how cloud-based accounting streamlines financial operations for Canadian businesses. Learn how to save time, reduce costs, and improve accuracy.
How a Strong Operational Strategy Can Reduce Costs and Increase Profitability
Discover how an effective operational strategy can enable Canadian businesses to reduce costs and increase profits. Explore methods to optimize operations and enhance profit margins.
GST/HST Compliance: What Every Business Owner Needs to Know
Ensure your Canadian business remains compliant with GST/HST regulations. Learn registration rules, tax rates, filing deadlines, and how to avoid penalties.
Government Grants for Daycares: How to Access Funding and Grow Your Childcare Centre
Learn how to secure government funding for daycare centers in Canada. Discover available grants and practical strategies to responsibly grow your childcare facilities.
Common Financial Mistakes Small Businesses Make in Canada (And How to Avoid Them)
Discover the main financial mistakes small companies in Canada commit and learn how to avoid them. With professional insights, improve tax compliance, budgeting, and cash flow.
Budgeting for Growth: How Businesses Can Allocate Resources Effectively
Learn how Canadian businesses can create effective growth budgets. Discover strategies for allocating resources, minimizing waste, and maximizing ROI.
Case study: "How bad accounting practices lead to shareholder loan accumulation and unexpected tax bill when CRA come to audit"
Explore how accounting errors can impact financial reporting in this in-depth case study on correcting shareholder loan misreporting. Learn effective strategies for identifying, analyzing, and resolving complex accounting issues.
Top 5 Small Business Accounting Tools to Use Online
Read about Top 5 Small Business Accounting Tools that you can use online for your daily accounting tasks.
Tips On How To Avoid CRA Scams
Get the useful info on how to avoid and to be protected from CRA scams, and how to keep yourself safety.
The Many Benefits of Using RPA Accounting In the Workplace
TaxBuddy Canada can help your business integrate RPA accounting into your workplace for immediate, long-term benefits.
Cloud Accounting: What There Is To Know
Do you want to know what is the cloud accounting? Read our article to the all information about it.
Payroll Deductions: A Guide for Employers
Understanding CPP, EI, and Income Tax deductions is critical for every Canadian employer.
Line 31270: Home Buyers' Amount
Did you buy a home this year? You might be eligible for a $10,000 non-refundable tax credit.
2024 Tax Brackets and Basic Personal Amount
Inflation has pushed the federal tax brackets higher for 2024. See where you fall and how to plan.
First Home Savings Account (FHSA): What You Need to Know
The new FHSA allows prospective first-time home buyers to save for their first home tax-free. Here is how it works.
2026 Canadian Tax Brackets: What You Need to Know
An overview of the federal and provincial tax brackets for the 2026 tax year. Understand how inflation adjustments affect your take-home pay.
RRSP vs. TFSA: Choosing the Right Vehicle for Your Goals
Confused between RRSPs and TFSAs? We break down the key differences, contribution limits, and withdrawal rules to help you decide.
Self-Employed? Don't Miss These Deductible Expenses
Maximize your tax return by claiming all eligible business expenses. From home office costs to vehicle mileage, here is your checklist.
Understanding the Multi-Generational Home Renovation Tax Credit
Building a secondary suite for a senior or disabled family member? You could claim up to $50,000 in qualifying expenditures.
GST/HST Returns: Determining Your Filing Frequency
Annual, Quarterly, or Monthly? How to determine when you need to file and remit your sales tax to the CRA.
Financial Literacy 101: Teaching Kids About Money
It's never too early to start. Strategies for introducing concepts of earning, saving, and investing to the next generation.
The First Home Savings Account (FHSA): A Game Changer
The FHSA combines the best of RRSPs and TFSAs for aspiring homeowners. Learn how you can save up to $40,000 tax-free.
Capital Gains Inclusion Rate Update: Who Does it Affect?
The inclusion rate for capital gains has increased from 50% to 66.67% for certain gains. Find out if your portfolio or cottage sale will be impacted.
The Canada Carbon Rebate: Dates and Amounts
Formerly the Climate Action Incentive Payment (CAIP). Check your bank account on these dates to receive your quarterly tax-free payments.
Canadian Dental Care Plan (CDCP): What You Need to Know
The CDCP is rolling out to specific age groups. See if you qualify for coverage to help with the cost of oral health care.
Digital News Subscription Tax Credit: Support Local Journalism
Did you know you can claim up to $500 for digital news subscriptions? Learn how to claim this credit on your tax return.
Sole Proprietorship vs. Incorporation: When to Switch?
As your business grows, you might wonder if it's time to incorporate. We analyze the tax deferral advantages and administrative costs.
Claiming Medical Expenses on Your Tax Return
From dental work to gluten-free food, the list of eligible medical expenses is long. Learn how to bundle them for the biggest refund.
Disability Tax Credit (DTC): Accessing Benefits
The DTC is a gateway to further benefits like the RDSP. Here is how to determine eligibility and apply.
Payroll 101 for Small Business Owners
Hiring your first employee? Learn the basics of source deductions (CPP, EI, Tax) and remittance deadlines.
The Lifetime Capital Gains Exemption (LCGE) in 2025
Planning to sell your qualified small business shares or farm property? The LCGE limit is indexed to inflation and could save you huge tax bills.
Corporate Tax Rate
Everything you need to know about the Canada corporate tax rate in one place. Understand the corporate tax rate Ontario, investment income corporate tax rate, and what tax rate your corporation qualifies for.
CRA Mileage Rate in Canada (2025, 2024, 2023, 2022): How Much You Can Claim Per Km
Using transportation during business operations in Canada involves extra expenses, under which you can claim mileage rate reimbursements. This article discusses the various criteria used to establish how much you can claim per kilometer under the mileage rate.
How Much Does it Cost to Hire an Employee in Canada?
Knowing the cost of hiring a new employee in Canada will help your business save time, money, and other resources. Read this useful article. Most business owners spend about 40% of their working hours on tasks that are not generating income or could be done by other professionals, and hiring an employee will help you refocus this energy and time on growing your company.
Line 31270: First Home Buyers Tax Credit and What It Means for You
The New Home Buyers Tax Credit helps Canadians reach their dreams of owning a new house. This incentive is available to more than first-time buyers.
Who is Required to File Taxes in Canada?
Filing taxes can be overwhelming for many Canadians. A professional tax consultant can guide you on who is required to file taxes in Canada.
Payroll Deduction in Canada
Before receiving your salary in Canada, your gross payable amount undergoes some deductions that you should know about. With the help of an experienced online accounting firm, you can understand the types of deductions applicable to your salary, and how they affect your net earnings.
How to Use Canadian Income Splitting to Reduce Your Tax Bill
Canadian income splitting can benefit your tax situation. Professional accountants are your best resource to determine if this strategy will work for you.
HST Payments
What are the HST payment dates in 2026? How can you make HST payment online? Get all the answers to your HST questions from the professionals at TaxBuddy Canada.
What is the GST / HST Credit?
Who gets the GST / HST credit in Canada? What are the GST / HST eligibility criteria? If you are over 19 in Canada, you may be eligible for the GST / HST tax credit.
How Does A Tax-Free Savings Account Work In Ontario
Read about TFSA benefits, types, how the TFSA operates, and the other useful information regarding tax-free savings accounts in Canada.
HST Meaning: What Does HST Mean, How to Apply, and More
What does HST mean? How do you know when to register for HST? When did HST start in Ontario and other Canadian provinces? Get answers to all your HST questions from the tax experts at TaxBuddy Canada.
HST Exemption
What items are HST exempt in Ontario? There are a number of HST exempt services and goods in Ontario. Do you need an HST exemption number? Learn more from the professionals at TaxBuddy Canada.
How Can an Accounts and Payroll Assistant Help Your Business?
Can an accounts and payroll assistant help grow your business? Learn the duties, responsibilities, and qualifications of a payroll assistant and how they can help your meet compliance regulations and save you time and money.
HST Credit: Everything You Need to Know
Are you eligible for the HST tax credit? Learn the HST credit eligibility, HST credit payment dates, and more from the tax experts at TaxBuddy Canada. Get all the credits you are entitled to this tax year.
GST / HST Payment in Canada
What are the GST / HST payment dates in 2026? What is your GST / HST payment schedule? Are you eligible to use GST / HST Netfile? Get all the answers to your questions from the tax experts at TaxBuddy Canada.
Your HST “How To” Questions Answered (2026 updated)
We answer all your questions about how to manage your HST number. Learn how to apply for an HST number, how HST works, how much HST is, how to deduct HST from the total, and more.
How to Reconcile Credit Card Statements
What’s the best method to reconcile credit cards? Learn how to reconcile credit card statements plus, bank and credit card reconciliation with TaxBuddy Canada. QuickBooks, Xero, Sage50 credit card reconciliation is easy!
Why Do You Need to Hire An Accountant to File Taxes in 2026
Do you want to hire a tax professional instead of doing everything by yourself? Read our article!
Why You Should Hire a Bookkeeper for Your Business in Canada
Running a business in Canada requires involvement in multiple projects simultaneously, which can take up a lot of your output. You, therefore, want to hire a bookkeeper because it allows you to access various benefits that ensure your business runs smoothly, as I discuss in this article.
Duties of Treasurer: Managing Budgets and Predicting Risks
The duties of a treasurer in an NPO include budget management and financial risk prevention. Read our article to learn more about the benefits of having a treasurer on your team.
T2 Tax Return - Everything You Need To Know About Your T2
Everything you ever wanted to know about T2 corporate income tax returns from the tax specialists at TaxBuddy Canada. Learn where to send T2s, how to file T2 returns, and more.
T2 Schedule
When filing your corporate taxes and T2 income tax return, you must file CRA T2 schedules to accompany it. What are the most common T2 schedules? What are schedules for? Meet all your corporate tax obligations with CRA T2 schedules.
Self Employed Tax Return and Tax Forms
What are the tax forms for self employed individuals? How do I file my self employed tax return? Navigate the expenses, deductions, income, and forms when you’re self employed. Get tax help and tax planning from TaxBuddy Canada.
Notice to Reader Financial Statements
What is a Notice to Reader Statement? What are they used for? Who can prepare NTR statements? TaxBuddy Canada’s chartered accountants can prepare your Notice to Reader financial statement and help you keep organized finances.
What is a ROE? Your Record of Employment Questions - Answered
Get all the answers to your record of employment questions from the payroll experts at TaxBuddy Canada. When does an employer have to issue an ROE? What does ROE mean? We can help you and your business.
Filing a Nil Corporate Tax Return Canada
Does your corporation need to file a nil tax return? What is the deadline and cost? Get all you need to know about how to file a nil return for your corporation from TaxBuddy Canada.