Tax Tips Category

Tax Tips for your personal and business needs.

Obama Taxes – 3 Tax Policies Small Business Owners Should be Aware of

With every newly re-elected president comes new policies and actions with Obama been is no different. These new tax related policies and actions often affect the small business owner but some businesses aren’t always aware of these changes. Below are 3 proposed policies we have summarized for your ease of reading.

Small Business Tips for the Return of PST in BC

If you are a business owner in British Columbia, you are familiar with the big tax changes occurring on April 1, 2013. On this day, the reimplementation of our Provincial Sales Tax (PST) and Goods and Services Tax (GST) will take the place of the current Harmonized Sales Tax (HST). In this post, we will be discussing some tips for small businesses regarding the return of the PST.

American Taxpayer Relief Act : Affects on the Individual Taxpayer

There has been a lot of talk in the past couple days about the American Taxpayer Relief Act, which was eventually agreed upon by the Senate on January 1 2013. Signed into law by US President Barack Obama on January 2 2013, this 156 page Act pulled the United States back from the edge of the fiscal cliff, and addresses the expiration of a number of tax relief provisions enacted in 2001 and 2003.

How the return of PST will affect you in 2013?

It is necessary for any business, especially those in British Columbia, to be aware of the BC provincial government re-implementing the Provincial Sales Tax (PST) along with Goods and Services Tax (GST) that will take the place of the Harmonized Sales Tax (HST) that is currently in place. In order to be ready for the shift back, here is some information and tips that might make for an easier transition.

Surviving the Tax Man – A Guide on How to Handle a Canadian Audit

The Canada Revenue Agency’s main duty is to maintain public confidence in the fairness and integrity of Canada’s tax system. Generally, they do this through income tax, GST/HST, and payroll audits. The Canada Revenue Agency records tax returns in a computer system, enabling them to easily select returns that stand out. There are four main ways of selecting files to be audited:

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