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Navigating Tax Season in Ontario: The Advantages of Professional Tax Services

As tax season unfolds in Ontario, individuals and those who are self-employed or running sole proprietorships face the annual task of tax preparation. While the allure of DIY tax software is strong, the benefits of engaging with a professional tax service like Keenans Accounting Service are significant and worth considering. Navigating the Maze of Tax

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What Every Freelancer and Sole Proprietor Should Know About Taxation in Canada

Whether you’re a sole proprietor of a business or a freelancer, there’s no denying that taxes need to be properly calculated.  Knowing the difference between being a sole proprietor and working as a freelancer can help you make informed decisions about filing your taxes. Difference Between Sole Proprietorship and Freelancing When it comes to self-employment,

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Should You Take a Salary or Dividends as a Business Owner?

As a business owner, you have the option of taking a salary or dividends from your company. Both have benefits and drawbacks that you should consider before making a decision. Here’s a breakdown of each option to help you decide which is best for you. The Difference Between a Salary and Dividends A salary is

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Tax Deadlines and Tips to Get You Ready for the Upcoming 2020 Tax Season

When the pandemic hit, the Canada Revenue Agency (CRA) adopted measures to help Canadians cope with the global crisis. To do this, they extended both the deadlines for filing taxes and to make any payments that were owed. The CRA also did not charge penalties or interest on tax returns filed by September 1, 2020.

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What Can I Claim On My Taxes When Working From Home During The Pandemic?

Since the beginning of the pandemic, many workforces have shifted from working in an office setting to having employees creating an office at home. This has forced many employees to purchase new furniture and office supplies to continue their job. The question is, can you write off these new expenses on your next tax return? 

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The CERB Has Ended, So What is Next?

The Canada Emergency Response Benefit (CERB) program officially ended on September 27, 2020 and the government is transitioning back to Employment Insurance (EI) for those still in need. For those that don’t qualify for EI, there are new recovery benefits that have been announced that you may be able to benefit from. These new programs

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What You Need to Know About RRSPs

Mark your calendars! Its that time of year when Canadians focus on tax-advantaged savings for their retirement. The deadline for Registered Retirement Savings Plan (RRSP) contributions for the 2019 tax year is March 2, 2020. But before you go running out to invest your money into RRSPs, there are a few things you should know.

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Tax Tips for Contract Workers

With the ease of telecommuting and remote work options, many people are choosing to offer their services on a contract or freelance basis. Unlike a regular job where your taxes are deducted on each paycheque by your employer, the responsibility is now on you to track your earnings and your taxes owing. Whether you are