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Richard Fonagy
Jan 17, 20214 min read
What Are The Different Types Of Dividends:
Most common type is: Cash Dividend - Capital Dividend - dividend paid from: Capital gain distributions (non-taxable portion) Life...
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Richard Fonagy
Jan 17, 20214 min read
What needs to happen for the Minister to re-assess past the normal re-assessment period of 3 years:
Is the reassessment of Mr. Robinson’s 2011 taxation year valid notwithstanding that it was issued beyond the normal reassessment period...
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Richard Fonagy
Jan 17, 20213 min read
What Is A Credit Score?
What is a credit score? A credit score is a 3-digit number that allows lenders to determine a potential borrower’s credit risk—the risk...
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Richard Fonagy
Jan 17, 20214 min read
Why You Should Wait Until You Are 70 To Collect CPP Benefits:
Waiting until age 70 can make retirement sweeter; here’s a strategy so effective you’ll wonder why you have never heard of it before Oct...
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Richard Fonagy
Jan 17, 20211 min read
What Are Net worth Audits?
Net-Worth Audits are a blunt audit tool used by CRA to determine what your income is based on the difference between your opening and...
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Richard Fonagy
Jan 17, 20211 min read
What Are The Exceptions To The Limitation On Meals?
The 50% limitation on meals and expenses is often assumed without question. Subsections67.1(2), (3) and (4) provide multiple exceptions...
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Richard Fonagy
Jan 17, 20213 min read
Audited? What Can You Do:
The (lack of) Documentary Evidence Checklist where any audit has gone awry, the objection should be approached with two questions in...
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Richard Fonagy
Jan 17, 20214 min read
Working From Home? Home Office Expense What You Should Know
Home Office Expenses: Many business owners claim a portion of their residential expenses as business expenses, only to have the claim...
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Richard Fonagy
Jan 17, 20212 min read
Mileage Logs- What you need to know:
I cannot recall a client who has ever had an acceptable mileage logbook. There is no requirement in the ITA for a taxpayer to keep a...
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Richard Fonagy
Jan 17, 20213 min read
Are Your Expenses Reasonable
Reasonable Expense Checklist/Items to Remember The checklist for the application of section 67 of the ITA is sometimes difficult to...
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Richard Fonagy
Sep 4, 20192 min read
What You Should Know About Incorporating
Thinking of Incorporating things to keep in mind: When converting from a sole prop to a corporation some things to keep in mind: There...
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Richard Fonagy
Sep 4, 20193 min read
Keeping Records
When it comes to design, the Wix blog has everything you need to create beautiful posts that will grab your reader's attention. Check out...
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Richard Fonagy
Sep 4, 20192 min read
Evidence of Expenses- What to know if audited:
Evidence of Expenses Disputes about the nature of an expense or whether it is reasonable in the circumstances might require evidence...
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