Personal Taxes

Facts on Taxes Gambling Winnings Personal Taxes Taxes

What Are The Penalties For Not Reporting Gambling Winnings?

Gambling winnings can be a thrilling and exciting experience for those who indulge in it. However, it's essential to remember that these winnings are still subject to taxes, just like any other income. Failure to report gambling winnings to the…

Matthew RusselJuly 15, 2024

Personal Taxes Tax Deductions Taxes

10 Tax Deductions You May Be Missing Out On

Tax season often comes with a mix of anticipation and anxiety for many of us. While the idea of getting a refund is certainly appealing, the process of navigating through tax forms and deciphering tax codes can be overwhelming. The…

Matthew RusselJuly 15, 2024

Facts on Taxes Federal Income Tax Filing Taxes Personal Taxes Taxes

What If I Made A Mistake On My Tax Return Canada?

Navigating the intricacies of tax season can be a daunting task for many Canadians. As we diligently compile financial documents and strive to meet filing deadlines, the fear of making a mistake on our tax returns can weigh heavily on…

Matthew RusselJuly 15, 2024

Facts on Taxes Personal Taxes Taxes

Do Banks Report You To Credit Reporting Agencies?

When it comes to managing your finances and creditworthiness, one question that often arises is whether banks report your financial activities to credit reporting agencies. Credit reporting agencies, also known as credit bureaus, play a crucial role in assessing an…

Matthew RusselJuly 15, 2024

Facts on Taxes Federal Income Tax Filing Taxes Personal Taxes Taxes

How Does The CRA Know Your Income?

If you're a taxpayer in Canada, you may be wondering how the Canada Revenue Agency (CRA) knows how much income you earn. The CRA uses a variety of methods to collect information about taxpayers' income, including information provided by employers,…

Matthew RusselJuly 15, 2024

Facts on Taxes Federal Income Tax Filing Taxes Personal Taxes Taxes

How Far Back Can CRA Audit?

As a taxpayer in Canada, it's essential to understand how far back the Canada Revenue Agency (CRA) can audit your tax returns. The CRA has the authority to audit taxpayers for up to four years from the date of the…

Matthew RusselJuly 15, 2024

Facts on Taxes Federal Income Tax Filing Taxes Personal Taxes Taxes

Who Is Responsible For Tax Return Mistakes?

When it comes to filing income tax returns, accuracy is paramount. However, despite our best efforts, mistakes can occasionally slip through the cracks, leading to potential complications with the tax authorities. In such cases, it is crucial to determine who…

Matthew RusselJuly 15, 2024

Personal Taxes

What Are The Penalties For Not Reporting Gambling Winnings?

10 Tax Deductions You May Be Missing Out On

What If I Made A Mistake On My Tax Return Canada?

Do Banks Report You To Credit Reporting Agencies?

How Does The CRA Know Your Income?

How Far Back Can CRA Audit?

Who Is Responsible For Tax Return Mistakes?

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