by Padgett Accounting | Jun 20, 2022 | News
When Paying Family Members When paying family members you need to decide as to whether a salary should be paid to a family member, or more specifically to one’s spouse, numerous questions arise. On one side, there is the question of the risk involved that the salary...
by Padgett Accounting | Apr 19, 2022 | News
Cryptocurrency Taxation Cryptocurrency is a type of alternative currency, such as Bitcoin, but it is not considered money or currency (“legal tender”). It is a digital asset that works as a medium of exchange for goods and services between the parties who agree to use...
by Padgett Accounting | Apr 5, 2022 | News
2022 Automobile Deduction Limits and Expense Benefit Rates For 2023 limits read here The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes has increased from $30 000 to $34 000 (plus applicable federal and provincial sales...
by Padgett Accounting | Mar 16, 2022 | News
Loaning Money to Your Adult Children You may lend money to your child to help with the purchase of a major personal item. A common example is a loan to help with the purchase of a child’s first home. Generally, this doesn’t create tax problems if they are made for...
by Padgett Accounting | Mar 8, 2022 | News
CRA Scams to Watch Out For It is the time of year for CRA Scams to be commonplace. With scammers are getting crafty including faking Canadian phone numbers and emails, it is up to you to be warry and ask questions. If you are not expecting a call from the Canadian...
by Padgett Accounting | Feb 22, 2022 | News
5 important Small Business Bookkeeping Tips Unless you are a fan of numbers, you may need some Small Business Bookkeeping Tips to help you stay ahead of things for your business. By creating some good habits, you stay organized and can track your cash flow with ease....
