DVMAccounting
2250 Bovaird Dr E, Suite 510 L6R 0W3 Brampton, ON, Canada

Never was so much owed by so many to so few - Winston Churchill.

If you owe a balance but file your return, you will be subject to interest fees until your balance due is paid off. If you have a balance owing and you file late, you’ll be subject to interest and a penalty. CRA assesses this extra penalty from the first day your return is late. With a rate of 1% per month (up to 12 months) that your return remains unfiled, this penalty is in addition to amounts charged for interest. If you are consistently late filing, you may be subject to ...even higher interest rates and penalties double in fact. . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] . Don’t Delay! Call DVMA! See more

Happy thanksgiving from team @dvmaccounting . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454... [email protected] See more

Personal Real Estate Corporations - As of October 1st, 2020, ONTARIO REALTORS are now permitted to operate their business through a personal real estate corporation (PREC). With this new regulation, Realtors will now be able to improve their customer services and hire more people. Furthermore, PRECs are going to offer Realtors substantial tax savings and help them plan their tax payments with the ups and downs of the real estate market. . . For further info contact @dvmaccou...nting today! . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Travel - To qualify as a tax deduction, business travel must last longer than an ordinary workday. Further, to be considered a business trip, you should have a specific business purpose planned before you leave home and you must actually engage in business activitysuch as finding new customers, meeting with clients or learning new skills directly related to your business. Need tax help?! Don’t Delay! Call DVMA! . .... #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

If you have received an audit letter from CRA, then you generally have 30 days to respond to the auditor, and 90 days to file an appeal from the date of the assessment. Have a professional assist you as the audit dates and time line to fight audit determinations are time sensitive! Do not ignore any notices from the CRA giving you a deadline. Need help? . Don’t Delay! Call DVMA! .... #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

As a freelancer, self-employed individual or small-business owner, we understand how difficult it can be to balance your work and family and all other obligations. Adding the tax requirements on top of all of that is asking a lot, which is why we try to make the tax reporting process so much easier for you and why we provide tips, suggestions and recommendations. Need tax help? Look no further! . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #T...axPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] . Don’t Delay! Call DVMA! See more

When a business is started, it can be structured as a proprietorship, partnership, or corporation. . . Each type of business entity has its advantages and disadvantages. It is wise to seek professional advice to assist in your decision-making, and in the setting up of your business structure. Contact us and we can help! .... #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Look no further! Call DVMA today and let us handle the rest. . . Don’t Delay! Call DVMA!... . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Audits are determined based on risk assessments. The CRA needs to complete audits in order to insure that compliance with Canadian tax legislation is maintained. If your business is chosen to reviewed, it may be only a review or informal audit of a particular part of your business, like an HST filing. In some cases however, after the risk assessment on your business return, your account might be chosen for an audit. If the CRA decides to audit you, an auditor will call or wri...te to you to set up a meeting. It may take place at your business or off-site at another location. . Contact us if you need help regarding CRA reviews and audits. . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

With more than 11 years’ experience helping Canadians file their taxes confidently and get all the money they deserve. . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454... [email protected] See more

Will I be penalized for withdrawing money from my TFSA? . . No. However, although you can withdraw money without penalty, TFSA accounts are not meant for daily bank transactions. If you make withdrawals and then replace the money before the end of the year, you may exceed your contribution limit and be subject to a penalty tax. .... . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Celebrating your new mortgage: First-time home buyers can claim a $5,000 credit, which translates into $750 in tax savings. And the credit can be split between a couple if they are both first-time home buyers. There is no specific receipt needed to make this claim you just need to have the paperwork to prove you bought a house in 2020 if the Canada Revenue Agency asks. . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #...TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Will my spouse’s refund be used to pay my tax bill?? . . No. Your tax debt is your own responsibility unless you transfer assets to your spouse so that the CRA cannot go after them But remember, the CRA also has other ways to collect unpaid tax balances. If you are expecting a payment from another government department, like Canada Pension Plan, it may be applied against your debt. The same applies to your quarterly GST/HST Credit payment. But the Canada Child Benefit (CCB) c...annot be taken to pay your tax debt. If you are expecting a refund this year but you owe for last year, your refund will be applied to your outstanding balance. . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

TAX MYTH Mortgage interest on your personal residence is a tax deduction . . This is only true for self-employed Canadians who work from home. They are allowed to claim a percentage of their mortgage interest as a business expense. For everyone else, the tax benefit of owning a home comes when you sell. Every Canadian receives a capital gains exemption on the sale of their principal residence.... . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Yes, the CRA can seize your assets, but it won’t happen the next day. The CRA is required to follow a process for collecting unpaid taxes. They expect you to exhaust all other possibilities for paying your tax bill, such as taking out a loan or rearranging your financial affairs. If you are unable to pay and do not work out a payment plan with the CRA, they can take legal action to recover the funds. The CRA cannot file legal action until 90 days after a Notice of Assessment ...or Reassessment has been issued. . . Need help regarding issues with The CRA? Contact us today! . . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

We are already in the 3rd QTR. 2020 Tax season is approaching fast. Plan Ahead! Save Taxes! Don’t Delay! Call DVMA! .... . #DVMA #Tax #Accounting #Incorporation #CorporateTax #PersonalTax #TaxSeason #TaxPreparer #TFSA #RRSP #TaxSavings #TaxCredits #SmallBusiness #OwnerManagers #Brampton #Mississauga #Toronto #GTA 647-680-5454 [email protected] See more

Eid Mubarak from team @dvmaccounting