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CAMPANELLA MCDONALD LLP

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accountant Oakville

Are Your Interest Payments Tax Deductible?

By: Fabio Campanella CPA, CA, CFP, CIM Knowing when you can or can’t deduct interest for tax purposes can get tricky. Often, taxpayers (and their accountants) get it wrong. This can lead to hefty penalties and interest from tax reassessments, along with surprise tax bills. What’s more, taxpayers and their accountants often miss planning opportunities […]

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accountant Oakville

Did You Know Your "Free" Parking Spot Is a Taxable Benefit?

We're serious. Generally speaking, a free, dedicated parking spot provided to an employee by an employer is a taxable benefit to the employee. There are some exceptions to this rule. For example, if the parking spot is considered "scramble parking" (there are fewer spots than employees, i.e. first come first serve), then the "free" parking […]

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accountant Oakville

If You're a Contractor Doing "Cash" Deals With Your Customers, Then The CRA Has Their Eyes On You

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chartered accountant Oakville

Be Wary, Borrowing from Your Family’s Private Corporation Could Come with an Unexpected Cost

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small business tax accountants

What if Realtors in Ontario Enjoyed the Same Tax Benefits As Other Professionals?

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small business tax accountants

If You Run a Small Business Then the CRA Is Looking to Audit You

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chartered accountant Oakville

How are stock options taxed?

The federal government recently announced potential changes to how stock options will be taxed in 2020, but as long as you’re not raking in millions per year, you should be fine. Canadian Finance Minister, Bill Morneau said in June that they’re working towards a “fairer tax system” and that the tax advantages offered by stock […]

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accountant Burlington

Five Things Physicians Should Look for in an Accounting Firm

Ontario doctors need to choose their accounting firm with care. Let’s face it - doctor’s have way better things to do than to pour over the Canadian Income tax act. Outsourcing this task literally frees up time to save lives. Physician taxes in Ontario are as complex as any small business owner and you’re going […]

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small business tax accountants

If You're Running a Sole-Proprietorship, You Could Be Paying Up To 300% More Tax Than Necessary

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accounting firms Burlington

Should You Use A Corporation To Hold Your Rental Properties?

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