Canadian Dental Care Plan – Who is Eligible?

Canadian Dental Care Plan

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 […]

Financial Statement Preparation

financial statement preparation

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, […]

Understanding Tax-Free Savings Account (TFSA)

Tax-Free Savings Account

What is Tax-Free Savings Account (TFSA)? A Tax-Free Savings Account (TFSA) is a registered investment account that allows Canadian residents 18 years of age or older to earn tax-free investment income. Since 2009, federal government, through TFSAs allow individuals to contribute a set amount each year to the account, up to […]

Do Companies Need to Perform Payroll Withholding?

Payroll Withholding

As business owner, you are responsible for paying them when you have employees—but only after deducting payroll taxes. The IRS requires payroll tax withholding, the Social Security Administration (SSA), and the state and municipal governments (where applicable). Payroll tax deductions are required. By law, employers must withhold employment taxes from their […]

Who Is Eligible For The GST/HST Credit

GST/HST Credit

If you belong to the low to medium income bracket, then you are automatically eligible for GST/HST credit. Along with annual taxes, most Canadians pay for consumer goods and services or GST on a daily basis. It is already added to the prices of goods and services as well as in […]