February is the time to collect your income tax receipts and to speak with the dedicated team at Canwest Accounting to do your tax planning before the March 1 deadline for investing in RRSPs. Also, starting February 22, we can file your tax return for you so you can receive your tax refund right away.…
Many post-secondary students heading back to school this September are either experiencing physical distancing in classrooms, libraries, and labs, or are taking their courses online. Tax considerations for back to school such as students that are able to continue to live at home while studying, online studies could save them rent and transportation fees, reducing…
The extended deadline, until June 1, for filing personal income tax returns has meant Canwest Accounting’s hardworking team has been busy non-stop doing tax returns for more than 14 weeks now, which is much longer than the typical tax season. “I was finishing up some clients’ tax returns over the weekend to get them in…
April 30, the final day for filing your personal income tax, is coming up quickly. That date also marks when self-employed individuals need to pay any tax owing for 2019, otherwise; interest will be accrued after April 30. That said, self-employed individuals technically have until June 15 to file their income tax forms but be…
With the March 2, 2020 deadline looming as the final day to invest in your Registered Retirement Savings Plan (RRSP) for the 2019 tax year, it’s wise to set up an appointment with your accountant to do some tax planning. Sharlane Bailey, Owner of Canwest Accounting with offices in Victoria and Langford, says she and…
November, following Remembrance Day, usually features kicking off the holiday season. To avoid scheduling conflicts in December, a lot of workplaces plan their annual Christmas or “holiday” party for the end of November. For many organizations, spreading cheer during the holiday season extends beyond parties and staff bonuses to include client gifts and charitable giving.…
One of the most common questions answered by the friendly, professional bookkeepers and accountants at Canwest Accounting comes from individuals with small businesses asking how to file their business taxes. This depends greatly on whether the person is considered a sole proprietor of the business or if the business is incorporated. If incorporated, then there…
Families with young children are now in the full swing of balancing work with new summer activities and camps for the kids. The options, if you manage to book early enough, are amazing. The University of Victoria offers summer day camps in the Humanities in English, French and German, but the science fanatic in your…
With rental housing in short supply and fetching high rental rates in Victoria’s Capital Regional District, some people may be considering owning an investment property. Sharlane Bailey, Owner of Canwest Accounting, says her exceptional team of accountants and bookkeepers are often called upon to help these investment property owners at tax time. Unfortunately, many clients…
Assuming you aren’t expecting to owe any additional income tax for the 2018 tax year, self-employed individuals have until June 17 to file their income tax forms. That gives you a bit more time to track down those last few receipts that might still be stashed in the glovebox of your vehicle or hiding in…