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COVID-19 and Taxes: Important Updates
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COVID-19 and Taxes: Important Updates

Business, Not for profit, Taxes

COVID-19 and Taxes: Important Updates

By Virtual Heights|2021-10-24T09:53:14+00:00March 23rd, 2020|Business, Not for profit, Taxes|

It’s crazy times right now among this COVID-19 outbreak. We want to remind you that we are here for you at Virtual Heights Accounting. The government announced some significant economic measures to support Canadians during this COVID-19 crisis over the past few weeks. The full economic plan is covered here in detail: https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html Here is a brief summary of measures that may be relevant to you. Personal Tax Extension of payment deadlines for personal incomes taxes to September 1, 2020; Extension of filing deadlines for personal income tax (T1) returns to June 1, 2020 (we should still file if you have [...]

Giving Back

By Alissa Bryden|2021-10-24T09:53:19+00:00February 22nd, 2017|Uncategorized|

We are all busy. Then we see Not-for-Profits and groups that need help. Then the guilt comes as their never seems to be enough time. This week I was cruising the book fair at my daughter’s school with her one evening and saw two moms manning the checkout as volunteers for the Parent Advisory Committee. Two busy moms doing their part. Insert guilt here – and guilty confession: I have not yet volunteered for PAC. A few days later, I had a canvasser come to the door. A fellow mom friend who was canvassing for the Heart and Stroke Foundation. [...]

What can I deduct for meals?

By Alissa Bryden|2021-10-24T09:53:19+00:00February 16th, 2017|Uncategorized|

Throughout the year, I get a lot of questions around what can be deducted when it comes to meals for tax purposes. However, as we enter personal tax season I get these questions almost daily! I have decided to write a blog that answers some common questions. For further explanations, see Canada Revenue Agency website as they have some great resources. I travel for work - can I deduct meals? If you travel for work and are self employed you can deduct meals in the business (whether in a corporation or on your personal tax return for sole proprietors). However, the [...]