Siddiquie Accounting & Tax

Are YOU up to date on your taxes?

During the dangerous Apollo 13 mission, astronaut Jack Swigert had a sudden realization that had nothing to do with space: he hadn't filed his income taxes.

While floating miles above Earth, he admitted the mistake to Mission Control. NASA quickly contacted the IRS, who agreed that Swigert technically qualified as being "out of the country" and granted him an extension.

Amid the life-threatening oxygen tank explosion and the desperate race to return home, this mundane problem provided a rare moment of humor. It proves the old saying true: even in outer space, you can't escape taxes.

Attention: Restaurant Owners

See what the GST exemption means for your business.

More money in your pocket: A tax break for all Canadians - Canada.ca The government is proposing that the GST/HST be fully and temporarily relieved on holiday essentials, like groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts, from December 14, 2024, to February 15, 2025. This tax break will make a meaningful difference for Canadians by ma...

https://quickbooks.intuit.com/ca/resources/running-a-business/federal-budget-2024-canada/

Canada budget 2024: What small business owners need to know Canada's 2024 budget has rolled out, bringing with it critical updates and new opportunities for small business owners across Canada. From tax reforms to green initiatives and support for the development of artificial intelligence, this article explores this year's budget and what the changes it bri...