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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...

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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...

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Tax Tip Tuesday: Paying Yourself a Salary vs. Dividends

Hi everybody. Welcome to Campanella McDonald's first Tax Tip Tuesday video instalment. Today we're going to talk about salaries versus dividends. So, a general rule of thumb for most small business owners is to take a salary that's large enough to max out CPP and RSP...

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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...

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