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Small Business Tax Checklist: What You Need to Know Before April 30
Filing taxes for your small business? If you’re self-employed or run a small business in Canada, tax season can feel like a whirlwind. With forms, receipts, write-offs, and CRA rules to manage, it’s easy to overlook important steps or miss valuable deductions. At AlaTrust, we believe filing your taxes shouldn’t be stressful or confusing—and you […]
Ultimate Tax Savings Guide for Canadian Small Business Owners
Tax Season Alert for Small Business Owners! Are you paying more taxes than you should be? You might be surprised to find out that many small business owners in Canada are overpaying their taxes without even realizing it. Between navigating CRA compliance, managing deductions, and keeping track of paperwork, it’s easy to miss out on […]
SCAM ALERT:
Protect Yourself from Fraudulent EFILE Sign-In Emails! At AlaTrust Accounting & Financial Services, we prioritize your security and financial well-being. Recently, fraudsters have been sending fake emails and messages that contain links to a counterfeit EFILE sign-in page, designed to steal your personal information. These emails may appear legitimate but are dangerous phishing attempts aimed […]
Don’t Wait! File Your 2024 Tax Return Early!
Tax Deadline: April 30, 2025! (Self-employed individuals: June 15, 2025, but any balance owing is still due by April 30.) Why File Early? Get your tax refund sooner Avoid last-minute stress Ensure eligibility for government benefits (GST/HST credit, CCB, etc.) More time to fix errors & avoid penalties What Documents Do You Need? T4 – […]
Deductions VS Credits
In the Canadian Tax Act, tax deductions and tax credits serve different purposes in reducing an individual’s tax liability. Here’s how they differ: Tax Deductions Tax Credits Key Difference Would you like further clarification on specific deductions or credits?
Ways to File Your Taxes in Canada
Since the Digital File My Return service is no longer available, you can choose from the following options to file your tax return: Choose the method that best suits your needs. Learn More
Home Buyers’ can claim up to $10000
You can claim up to $10,000 for purchasing a qualifying home in 2024 if: Only one spouse can claim the amount, or it can be split, but the total cannot exceed $10,000. The home must be occupied as a principal residence within one year. Eligible homes include houses, condos, townhouses, mobile homes, and co-op shares […]