Bofran LLP

https://www.bofranllp.com/post/when-is-the-tax-deadline-key-dates-to-remember

When Is the Tax Deadline? Key Dates to Remember Understanding important tax deadlines helps you avoid late penalties and unnecessary stress.Personal Tax Filing DeadlineFor most individuals, the deadline to file personal income taxes is April 30 each year.Self-Employed IndividualsIf you or your spouse are self-employed, the filing deadline is typi...

https://www.bofranllp.com/post/common-tax-mistakes-and-how-to-avoid-them

Common Tax Mistakes (And How to Avoid Them) Tax season can feel overwhelming, especially when you're trying to make sure everything is accurate. Even small mistakes on a tax return can cause delays, reassessments, or missed deductions.Here are some of the most common tax mistakes and how you can avoid them.1. Missing IncomeAll income must be....

https://www.bofranllp.com/post/tax-preparation-checklist-what-documents-do-you-need

Tax Preparation Checklist: What Documents Do You Need? As tax season approaches, one of the most common questions we hear is: “What documents do I need to prepare my taxes?” Getting organized ahead of time can save you time, reduce stress, and help ensure nothing important is missed.Common Tax Documents to GatherBefore meeting with your accountant o...

We’re Back on Social Media!

Are accountants ever really "social" 🤓

It’s been a busy few months here at the office helping our amazing clients, and while we may have been a little quiet on social media… we’ve definitely been busy behind the scenes!

With tax season right around the corner, now is the perfect time to start gathering those receipts, T4s, and tax documents. A little preparation now can make tax time much smoother (and far less stressful).

Our team is here to help you navigate the process, answer your questions, and make sure everything is filed accurately and on time.

*Personal taxes
*Business taxes
*Trusts

If you’re ready to get started, reach out and book your appointment; we’d love to help make this tax season as easy as possible.

email: [email protected]

And keep an eye on our page; we’ll be sharing helpful tips, reminders, and maybe even a few tax-season survival tricks along the way!

New capital gains tax rules deferred!

Big Tax Change Deferred: What It Means for You January 31, 2025 | Ottawa, OntarioIf you’ve been following Canada’s tax policy updates, you might have been bracing for the capital gains tax increase set to take effect in mid-2024. However, in a significant move, the federal government has announced a deferral of the planned increase in the ca...

Check out our latest blog post https://wix.to/1s3tgXq

Government’s Holiday Gift: Federal Sales Tax Holiday Aims to Ease Affordability Crisis As Canadians brace for another frosty winter, the federal government has unveiled a heartwarming initiative to bring some financial relief to households feeling the pinch. From December 14 to February 15, a temporary removal of the federal sales tax (GST) on a broad range of items is set to kick in....

https://www.bofranllp.com/post/maximizing-your-tax-benefits-claiming-cca-on-vehicles-and-homes-for-small-businesses

Maximizing Your Tax Benefits: Claiming CCA on Vehicles and Homes for Small Businesses As a small business owner, every dollar counts when it comes to managing expenses and maximizing deductions. The Capital Cost Allowance (CCA) is one of the most beneficial tools available for reducing your taxable income. If you use a vehicle or part of your home for business purposes, you may be el...

It's almost tax season! Are you ready?

Upcoming Canadian Tax Changes: What You Need to Know for the 2024 Tax Season and Beyond As the tax season approaches, Canadians are preparing for a series of significant tax changes. These updates, aimed at promoting fairness, fostering economic growth, and addressing environmental concerns, will impact individuals and businesses alike. Understanding these changes is key to proactive f...

Got crypto? Changes are coming as Canada adopts OECD's tax transparency framework.

Canada’s Commitment to OECD’s Crypto-Asset Reporting Framework by 2027: What It Means for Tax Transparency and Reporting Canada is stepping up its game in tax transparency with a new focus on cryptocurrency. By 2027, Canada plans to adopt the OECD’s Crypto-Asset Reporting Framework (CARF), a global standard for reporting crypto transactions. This move marks a significant shift, aligning Canada with international eff...

🎃 No tricks, just numbers—and a few treats along the way! 🧛‍♂️

Our latest post, a CPA's Guide to Tackling Your Accounting Nightmares, is a real treat!

Happy Halloween from your friendly neighborhood CPA's! Boo!

Numbers Aren't Scary: A CPA’s Guide to Tackling Your Accounting Nightmares (Halloween Edition) 👻 Numbers Aren't Scary 👻As the leaves turn crispy and the nights grow longer, there's something spooky in the air—and it's not just Halloween! For some, nothing sends chills down the spine faster than the sight of financial statements, balance sheets, and tax forms. But here’s the trick (o...