by Freedom Accounting | Nov 24, 2023 | Freedom Accounting Inc., Tax Tips
In a bare trust arrangement, the legal title holder is separate from the beneficial owner. The Canada Revenue Agency defines a bare trust arrangement as “an arrangement under which [the trustee] can reasonably be considered to act as agent for all the beneficiaries...
by Freedom Accounting | Aug 30, 2023 | Tax Tips
Planning to study, work or retire abroad? The opportunity to travel and immerse yourself in another culture is exciting. However, like any adventure, there are always logistics to consider. One thing you might be wondering is how such a big move will affect your tax...
by Freedom Accounting | Jun 8, 2023 | Tax Tips
You just discovered that you’re being audited by the Canada Revenue Agency (CRA). Now what? After the initial pang of dread, it’s important to remind yourself that being audited doesn’t mean you are in trouble. Audits are nothing to fear as long as you’ve been doing...
by Freedom Accounting | May 5, 2023 | Tax Tips
The tax deadline has come and gone – now what? It might feel easy to ignore the issue at first, but as time ticks on, you can only bury your head in the sand for so long. Taxes are a legal obligation, and therefore strict consequences await those who don’t file on...
by Freedom Accounting | Mar 21, 2023 | Tax Tips
Working from home quickly became the norm for many in 2020. In fact, many employees have continued to work remotely well into 2022 (and beyond). This change in lifestyle has required a lot of people to absorb the cost of doing business at home such as increased power...
by Freedom Accounting | Feb 13, 2023 | Tax Tips
We’re well into the New Year, which means new tax changes have been put into effect. Many of us felt some financial crunches in 2022 as the cost of living dragged the world up a steep incline, setting records for inflation that we haven’t seen in a generation!...