MW&CO Chartered Professional Accountants

Grocery prices continue to rise, affecting our everyday shopping experience. Check out the latest data on which products have seen the steepest inflation and how it impacts your budget. Stay informed and plan wisely. https://www.ctvnews.ca/business/inflation/article/heres-a-look-at-some-of-the-grocery-store-products-that-saw-steep-inflation-according-to-new-data/

Here’s a look at some of the grocery store products that saw steep inflation, according to new data Inflation numbers held some good news for Canadians in June, but the price tag to feed families continues to rise.

Bank of Canada may raise interest rates more than its counterparts, potentially impacting borrowing costs and the economy. Stay informed on how these changes could affect your finances. https://financialpost.com/news/bank-of-canada-might-hike-interest-rates-more-than-peers

Posthaste: Why the Bank of Canada might hike rates more than any of its peers next year Bank of Canada could hike interest rates more than any central bank next year, according to market bets. Find out more

Long weekends are the perfect opportunity to unwind, recharge, and spend quality time with loved ones. Whether you’re planning a getaway or simply enjoying a staycation, make the most of this extended break. Take time to explore new hobbies, relax in nature, or catch up on your favourite shows.

Estate planning is crucial yet often overlooked. Canadians frequently delay important steps which can lead to complications later. Learn about essential estate-planning steps to ensure your wishes are carried out. https://www.ctvnews.ca/canada/article/christopher-liew-these-are-the-estate-planning-steps-canadians-often-put-off-until-its-too-late/

Christopher Liew: These are the estate planning steps Canadians often put off until it’s too late Personal finance contributor Christopher Liew walks through five estate planning steps Canadians delay the most, and why waiting costs more than you'd think.

Addressing the flaws in our tax system is crucial for fairness and efficiency. Conrad Black outlines potential reforms that could lead to a more equitable structure. Read more about his insights and proposed solutions: https://nationalpost.com/opinion/conrad-black-how-to-fix-our-broken-tax-system

Conrad Black: How to fix our broken tax system We need to incentivize our most successful capitalists to participate in job creation and the fight against poverty

A recent case highlights the issue of double taxation for Canadians with homes abroad. The taxpayer successfully challenged the CRA, shedding light on the complexities of international tax law. https://financialpost.com/personal-finance/taxpayer-double-taxed-home-abroad-wins-cra

Taxpayer double taxed here and abroad wins in court against CRA Jamie Golombek: It has become more challenging for some Canadians to claim a foreign tax credit, as the CRA is demanding more proof. Read on

The CRA has denied deductions for a taxpayer attempting to claim auto and work-from-home expenses. This highlights the importance of understanding tax regulations. https://financialpost.com/personal-finance/taxes/cra-denies-deductions-to-taxpayer-who-tried-to-claim-auto-and-work-from-home-expenses

CRA denies deduction to taxpayer who tried to claim auto and work-from-home expenses Jamie Golombek: Court ruled the taxpayer was unable to meet the conditions required to deduct his employment expenses. Read on

Many may be receiving inaccurate information from CRA agents, which can affect tax filings and financial decisions. Double-check the information and seek clarification to protect your hard-earned money. https://nationalpost.com/news/canada/many-canadian-taxpayers-getting-inaccurate-info-from-cra-agents-report-finds

Many Canadian taxpayers getting inaccurate info from CRA agents, report finds Complaints about the Canada Revenue Agency (CRA) surged by 27% last fiscal year, according to a report from the taxpayers’ ombudsperson.

Big changes are coming to the Disability Tax Credit (DTC) in Canada! 💡 The CRA has updated its criteria, making it easier for individuals with disabilities to qualify. https://globalnews.ca/news/11911361/cra-disability-tax-credit-changes/

CRA’s rules for disability tax credit are changing. What to know - National | Globalnews.ca Changes are coming to how some Canadians can apply for disability tax credits, which the Canada Revenue Agency (CRA) says will make the process faster and smoother.

Understanding the difference between bookkeeping and accounting is crucial for entrepreneurs. Bookkeeping focuses on recording daily transactions, while accounting involves analyzing and interpreting financial data to make strategic decisions. Knowing when to utilize each can set your business up for success. Dive deeper into this topic in our latest blog and enhance your financial literacy. https://www.mwcopc.com/difference-between-bookkeeping-and-accounting-what-entrepreneurs-should-know/