Applying through your tax return, the Medical Expense Tax Credit (METC) is non-refundable. You can deduct it from the amount of taxes you owe, but it cannot increase your tax balance above zero because it is non-refundable. You can apply for this tax credit if you incur medical costs that are […]
Work-From-Home Expenses: A Guide to the T2200 Form in Canada For many Canadians, working from home has become the new normal. While this flexibility offers numerous benefits, it can also lead to additional expenses like increased electricity bills, internet costs, and wear and tear on your home office furniture. Thankfully, the […]
What is the Canadian Dental Care Plan (CDCP)? The Canadian Dental Care Plan (CDCP) provides much-needed assistance for qualified Canadians without dental insurance. The objective of this plan is to ensure the well-being of people across the country by providing critical dental care coverage for maintaining optimal oral health. Eligible residents […]
Every Canadian business owner struggle with the bookkeeping dilemma: do-it-yourself (DIY) Bookkeeping or outsource it to a professional bookkeeper? While both options have its own set of pros and cons, the best choice hinges on your business specific needs. This blog post will explain into the pros and cons of DIY […]
Feeling overwhelmed by financial statements? You’re not alone. Here at Accounting Mississauga, we understand that financial statements can be complex and time-consuming. That’s why we offer stress-free financial statement preparation services in Ontario, keeping in mind individuals and businesses like you. What is Financial Statement Preparation? In the Canadian business landscape, […]
