E Mechler & Associates Inc.
38035 Cleveland Ave Squamish, BC, Canada

With school closures and summer programs cancelled due to the pandemic, many parents scrambled to find childcare in 2020. You can claim childcare expenses on your 2020 tax return for payments made to any of the following: caregivers providing child care services day nursery schools and daycare centres... educational institutions, for the part of the fees that relate to child care services day camps and day sports schools where the primary goal of the camp is to care for children boarding schools, overnight sports schools, or camps where lodging is involved If you have questions, give us a call.

The CRA is jumping on hundreds of Canada’s top social media influencer’s pages, parsing their content to spot any obvious signs of wealth or gifts. Then, they open up the individual’s tax filings and compare what they see online with what the person previously declared as earnings. https://nationalpost.com//the-cra-is-watching-you-auditors National Post

The Canada Revenue Agency (CRA) has made many changes that will significantly impact your 2021 finances on multiple fronts. https://ca.finance.yahoo.com//canada-revenue-agency-big-ch

If you worked from home in 2020 due to COVID-19, you might be eligible for administration relief this tax season if you worked from home for a minimum of 4 consecutive weeks and more than 50% of the time. There are two options available to claim employment-related expenses related to working from home: Temporary Flat Rate Method - $2/day to a maximum of $400. Days off for vacation, sick time or other absences are not included in the calculation. To claim the full $400, you wo...uld need to have worked 5 days a week from home starting March 15, 2020, right through to December 31, 2020 with no vacation or sick days. No employer certification is required, and employees must complete the T777S form with their income tax return. No other employment expenses are permitted to be claimed. Simplified Detailed Methodthis option is available for employees who claim actual employment-related expenses related to working from home, supported with receipts and documentation. Under this method, employees can deduct the workspace portion in their home and costs. Contact us if you would like more information on what else you may be able to deduct.

Here's what you need to know about filing your taxes this season, including important deadlines. https://www.cbc.ca/ne/business/cra-covid-benefits-1.5928069 #taxes #canadiantaxes #cra #taxseason #accounting