Mecklai Tax and Accounting Inc.
4609 Kingsway V5H 4L3 Burnaby, BC, Canada

For many businesses, the calendar year end is also the end of their financial year, so if you’re one of those businesses, that means you need to start preparing your accounting records for your accountant to review and to get them ready for tax filing. Remember, accountants get paid by the hour, so the longer they spend on your file, the more it will cost you, so try to be as organized as you possibly can to minimize accounting cost. We have compiled a list of the most common business records that your accountant needs to prepare your year end to help you with this task. Read more here: http://www.mecklaicpa.ca/year-end-tax-checklist/

The thought of a GST audit would frazzle most people and receiving the dreaded Audit Letter from Canada Revenue Agency (CRA) is probably one of a business owner’s worst nightmares. The bad news is CRA GST Audits are unavoidable, however, the good news is while there’s no sure-fire way to avoid a CRA audit, there are ways to make the process smooth and less stressful. Read more about it here: http://www.mecklaicpa.ca/gst-audits-tips-avoid-problems-cr/

It is challenging to prepare your tax return by yourself - even if you use tax software. Check out the following five most wrongly claimed tax deductions.

As a universal rule, you don't have to pay taxes on inherited properties in Canada; however, if your inheritance includes assets that could grow in value, such as a house or stocks, you need to record their fair market value as they pass into your possession.