Stellar Tax & Accounting Services

03/17/2025

If you own property in the U.S.A and want to sell, please consider this article on tax consequences and reporting requirements

Many Canadians own U.S. assets, such as securities, or real properties for personal use or investment purposes. So, understanding the tax implications in both Canada and the U.S. of owning U.S. assets is important, especially when income or loss is generated from the assets or when capital gains or....

02/14/2024

New trust filing, please look at this video that might apply to you.
https://www.youtube.com/watch?v=lez_TqIrPB0

01/02/2024

These changes may affect you if you have
a) names on parents' bank account
b) co-sign a mortgage for kids or parents

Rule changes come amidst efforts to crack down on tax evaders and to strengthen Canada’s anti-money-laundering regime to combat financial crime

01/02/2024

Be aware of these changes, holding bank accounts with parents or being on title with parents and children can impact some of us.

Rule changes come amidst efforts to crack down on tax evaders and to strengthen Canada’s anti-money-laundering regime to combat financial crime

11/15/2023

For small business owners, very important information here:

You open your inbox and see an estimated tax balance from your accountant — $16,000. Yikes. Do you consider all the eligible small business tax deductions

08/07/2023

For self-employed people, here is a good article on how to determine mileage and other car expenses for tax deduction:

https://www.driversnote.ca/cra-mileage-guide/self-employed-deductions-canada #:~:text=Claiming%20mileage%20from%20the%20CRA,at%20tax%20time%20each%20year.

Self-employed in Canada & want to know about car expense deductions? This is the guide for you. Find the basics on claiming business use of your personal vehicle.

05/16/2023

This article is interesting for those in abusive/violent relationships that might want a separation/leave current situation.

CRA has benefits for these people.

At the Canada Revenue Agency (CRA), we know that some situations can affect access to benefits and credits. We’re committed to helping you get your payments, whatever your circumstances.

04/26/2023

Tax season is here and this is good to know:

https://www.olympiabenefits.com/blog/claiming-dependents-on-taxes-in-canada-who-is-eligible #:~:text=Child%3A%20The%20dependent%20child%20age,with%20you%20in%20your%20home.

Claiming dependents on taxes will help you reduce your income tax owing. You may be able to claim for a child, spouse, parent or grandparent.

04/25/2023

Self-employed and remitting GST, must read this article

Don’t wait until tax time to begin readying information

04/25/2023

For those who wants to know more about GST/HST/PST for business and self-employed individuals, this article is great source to read

GST/HST is an integral part of running a business, and not understanding the rules surrounding sales tax can be damaging for your business...