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3 Reasons to Incorporate Your Small Business
Running a small business isn’t easy and unless you’ve given entrepreneurship a go you really have no idea what entrepreneurs go through. At Campanella McDonald LLP we know entrepreneurs all too well. For starters, we are entrepreneurs ourselves having started our firm...
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Should High Schools Teach Personal Finance?
I’ll get to the point: YES. Back in 2012 I wrote a column for the Financial Post titled: “Why you should study personal finance, not Shakespeare” CLICK HERE for the full article. Now this wasn’t a stab at Shakespeare, drama, English literature etc. It was a call-out...
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3 Tax Efficient Investing Strategies
Do you invest money in a taxable account? If you do then an article I wrote for the Financial Post way back in 2011 is still relevant to you. In the article I explain three simple yet effective ways to improve the tax efficiency of your investment...
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CRA Audits and Your Social Media Accounts
Do you like posting your life to social media? Many Canadians do. But did you know that your social media accounts can be public and are fair game for Canada Revenue Agency (CRA) auditors? I bet you didn’t. In a Financial Post article dated October 25,...
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Next-gen ETFs ‘equalize the playing field for investors’
ETFs or Exchange Traded Funds are a booming investment vehicle in Canada. The sector has grown from a selection of a few funds tracking passive indexes to hundreds of funds with passive, active, and rules-based strategies. In a Globe and Mail article dated November...
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Voluntary Disclosure and HST for Real Estate Investors Presentation
Here is the video transcript from the Voluntary Disclosure and HST for Real Estate Investors Presentation Presentation Speaker 1: We’re going to bring up JP. Apparently, JP and Fabio are going to run in from the side of the hall here. So John Paul – sorry, it’s not JP...
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Video – Tax Tip Tuesday: Pros and Cons of Corporations Sole-Proprietor and Partnerships
Watch the video on the Pros and Cons of Corporations, Sole-Proprietorships and Partnerships Here is the video transcript from "The Pros and Cons of Corporations, Sole-Proprietorships and Partnerships" John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip...
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Did you know that in 2015 the Government came out with new deductible amounts for childcare?
It is important to know what your childcare qualifies for, here are a few pointers from Fabio and John Paul. Video Transcript from New Childcare Deductions/h3> John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video. Today, we're going to talk about...
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Have you heard about CRA’s Auto-fill my return service???
By giving your accountant access to this service you could avoid penalties for items such as missed income slips not reported or they may even find unused RRSP contributions. Check out what John Paul and Fabio have to say about this service as it may be a benefit to...
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5 Common Expenses for Real-Estate Investors
By: Fabio Campanella CPA, CA, CFP, CIM One of the most confusing aspects of investing in real estate are the myriad of tax rules that have developed over the years. Understanding what can and can’t be deducted against your taxable rental income is as important as any...
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The CRA’s annual Office Audit Letter Campaign
The Canada Revenue Agency (CRA) will soon be conducting its seventh annual Office Audit Letter Campaign. This campaign targets a specific group of taxpayers that have demonstrated specific tax behaviour. This year, CRA is targeting about 30,000 taxpayers who claim...
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How to distinguish between a CRA audit and a request for more information
Video Transcript from How to distinguish between a CRA audit and a request for more information John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video, where today we're going to talk about what letters you get in the mail regarding CRA audits or...
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How to receive a second chance from the CRA with their Voluntary Disclosure Program
Voluntary Disclosures Program What are you supposed to do when you discover that you’ve shorted the government some tax money? How about if you haven’t filed a tax return in years but you’ve been profitable the whole time? Or what if you’ve made an outright...
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Campanella McDonald LLP would like to introduce its newest associate: Patrick Ruiz
Patrick is a CA/CPA with a decade of experience in the public accounting, tax, and investment banking sectors. We are confident that his deep level of knowledge will be a major contributing factor to our firm's expansion. Video Transcript from Oakville Accountant...
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What are the steps I need to follow to start my own business?
Steps common to all business structures Make your start-up easier and consider your tax position while you plan your business. You have a lot on your plate with writing the business plan, doing marketing research, and looking for financing options. But if you...
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3 Year-End tax tips for small business owners that will help to save you money!
The video transcript from 3 Year-End tax tips for small business owners that will help to save you money! John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video. Merry Christmas. Happy Holidays. Today, we're going to talk about three topics that we...
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How to avoid tax complications when introducing a new shareholder to your corporation.
Here is the video transcript from "How to avoid tax complications when introducing a new shareholder to your corporation" John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video about tax complications, where today we're going to talk about a question...
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How to get an HST refund when you don’t charge HST
How to get an HST refund when you don't charge HST John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video, where today we're going to talk about zero rated HST. So this tends to – we tend to see this with people who are starting a new business. The...
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Understanding HST and Sales Taxes: Part 2
Recording, collecting and paying HST doesn’t have to be a hassle. Understanding what the CRA wants from you is the first step. In case you missed it, in our last we talked about supplies you have to charge HST on, registering for an HST account, and how to charge HST....
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How to trade stocks “tax free”
CMLLP - Oakville's Leading Accounting Firm Shares Tax Tips on How to Trade Stocks Tax Free Here is the video transcript from "How to trade stocks tax free" John Paul: Hi there, and welcome to Campanella McDonald's Tax Tip video, where today we're going to talk...
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Tax Tip Video: “tax loss harvesting”
"Tax loss harvesting" is a technique you can use to eliminate taxable gains in your stock portfolio by offsetting them against taxable losses. But you have to watch out for the stop-loss rules. JP and Fab explain in this...
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Understanding HST and Sales Taxes: Part 1
HST or “Harmonized Sales Tax” is one of the main sales taxes in Canada and is used in provinces where the federal GST or “Goods and Services Tax” is combined with the provincial sales tax to form a single value added sales tax. The HST is a “value added tax” meaning...
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