Discover how you can optimize your financial outcomes with effective tax planning strategies tailored for owner-managed businesses in British Columbia. This article offers actionable advice on tax planning in British Columbia, equipping you with small business tax tips and insights into accounting for BC businesses. Whether you’re looking to minimize tax liabilities or ensure compliance with Canadian regulations, you’ll find practical solutions designed to support your business’s growth. Stay ahead with proven owner-managed business tax strategies and make informed decisions for your company’s financial future.

Are you a small business owner in British Columbia looking to strengthen your financial management? Discover essential accounting practices for small business success, tailored specifically for the BC market. This article guides you through foundational strategies such as effective record-keeping, expense tracking, and regular financial reviews to ensure your company remains compliant with British Columbia business accounting standards. Empower yourself with the knowledge and tools you need to achieve sustainable growth and meet BC small business compliance requirements with confidence.

Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Christopher Liew, CFA 

Original Article Posted on:  April 7, 2021

Link to Original Article:  https://www.fool.ca/2021/04/07/canada-revenue-agency-3-ways-to-pay-less-in-taxes-this-year/

Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By:  Puja Tayal

Original Article Posted on:  April 8, 2021

Link to Original Article:  https://ca.finance.yahoo.com/news/canada-revenue-agency-benefit-2020-220009877.html

Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By:  Robin Brown

Original Article Posted on:  April 1, 2021

Link to Original Article:  https://ca.finance.yahoo.com/news/cra-1-solid-way-reduce-124219884.html

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Justin Anderson

Original Article Posted on:   March 26, 2021

Link to Original Article:  https://financialpost.com/moneywise/millions-of-canadians-stuck-with-bigger-tax-bills-this-year-including-victims-of-cerb-fraud

Original Article Source Credits:   CBC News , https://www.cbc.ca/

Article Written By:  Sophia Harris 

Original Article Posted on:  Feb 27, 2021 

Link to Original Article:  https://www.cbc.ca/news/business/cra-covid-benefits-1.5928069

Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  February 25, 2021

Link to Original Article:  https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2021/need-to-know-2021-tax-filing-season.html

Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  February 1, 2021

Link to Original Article:  https://www.canada.ca/en/revenue-agency/news/2021/01/the-canada-revenue-agency-is-acting-to-improve-service-to-canadians-this-tax-filing-season.html

Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Puja Tayal 

Original Article Posted on:  January 11, 2021 

Link to Original Article:  https://www.fool.ca/2021/01/11/cra-how-will-the-2021-changes-in-cpp-and-tfsa-impact-you/

Original Article Source Credits:   Yahoo Movies , https://ca.movies.yahoo.com/

Article Written By:  Christopher Liew, CFA

Original Article Posted on:  January 26, 2021

Link to Original Article:  https://ca.movies.yahoo.com/canada-revenue-agency-tax-deadline-144204068.html

Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Adam Othman 

Original Article Posted on:  January 11, 2021 

Link to Original Article:  https://www.fool.ca/2021/01/11/canada-revenue-agency-1-huge-tfsa-mistake-to-avoid-in-2021/

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Jason Clemens, Alex Whalen and Joel Emes

Original Article Posted on:  Feb 04, 2021

Link to Original Article:  https://financialpost.com/opinion/opinion-higher-capital-gains-tax-would-hurt-canadas-economic-recovery

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Filing taxes at the end of the financial year can be a daunting task, even the smallest of errors could cost you. Moreover, with the continually changing tax laws, clients have a ton of questions but often find answers difficult to come by. To help you gain some clarity, Gray & Associates want to arm you with the most accurate information available and to do this we have answered some of the most frequently asked questions about taxes.

The Gray & Associates team wishes you the happiest of holidays this season. May the New Year be filled with joy, health, and prosperity!

If you need any assistance from us during this time, feel free to get in touch with us by clicking here.

The average amount identified per small business audit was $137,000

The Canada Revenue Agency identified $1.185 billion from audits of small and medium-sized enterprises (SMEs) last year, said CRA officials speaking at the Canadian Tax Foundation’s Ontario Tax Conference held in Toronto in late October.

Scam artists are using phone numbers from more than a dozen federal government departments to defraud Canadians — making it look as if the calls are coming from legitimate government agencies and police departments.

Gray & Associates wish you and your family a happy and safe holiday season, and all the best for the New Year 2019!

We are Brian Gray and Geoff Reid, partners in Gray & Associates, Chartered Professional Accountants.

We look forward to sharing our story. We hope that you will enjoy getting to know us better.

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