by taxwhizpro | Nov 21, 2025 | Uncategorised
Many people get confused about the tax filing process in general. They often mistake filing taxes for meaning they have to pay taxes. Oftentimes, I have had to explain the difference to taxpayers, especially when they are told that they have to file their taxes,...
by taxwhizpro | Nov 21, 2025 | Uncategorised
Allowable expenses are designed to ensure that taxpayers can deduct costs directly related to earning their income. These deductions help reduce taxable income, thereby lowering the overall tax burden. For employees, these expenses often include costs incurred while...
by taxwhizpro | Nov 21, 2025 | Uncategorised
Many newcomers to Canada are often confused about what they need to do regarding their taxes when settling in. Over the years, I have met a few who aren’t sure whether they need to file taxes or when they should do so. As a newcomer, establishing a record with the...
by taxwhizpro | Nov 21, 2025 | Uncategorised
Many Canadians dread receiving bonus payments due to the widespread belief that they are taxed at a much higher rate than regular pay, with some even claiming rates as high as 40 to 50%. This is perhaps the biggest myth surrounding bonus payments in Canada. Taxes can...
by taxwhizpro | Nov 21, 2025 | Uncategorised
Preparing for tax season can be a daunting task, but with the right approach, it can be manageable and even stress-free. Here are some steps to help you get ready: 1. Gather Your Tax Documents: This is the first and most important step. In my experience of preparing...
