Typically, the tax agency will send out about 30,000 letters a year letting Canadians know they’re being audited. While that’s just a fraction of the 27.5 million taxpayers out there, you may still be sweating over what to do if you are one of the lucky few.

But being chosen for an audit isn’t as random as you may think it is.

You’re less likely to attract attention from the CRA if you watch out for these common red flags when you’re filing your taxes this season.

Read more from Financial Post


Making money out of your online business relies heavily on maximizing your strengths and intellectual property assets. To buy or sell your online business, promote to investors, or seek partners when diversifying, you need to safeguard your billion-dollar idea.

Your great idea, marketing strategy, software design, or business plan can make or break a deal. It can give you an edge over your competitors. However, if your secrets are lost, then you lose your leverage. You need a non-disclosure agreement to strengthen and protect your online business.

Read more from WebsitePolicies

 

When it comes to the government’s COVID-19 benefits, the question on many Canadians’ minds over the course of the summer of 2020 has been: “What comes next?”
This week we got some answers.
On Thursday, the government announced that the Canada Emergency Response Benefit (CERB), which is offered to both employees and the self-employed and has to date paid out $69.4 billion to over 8.6 million Canadians, will be extended by an additional four weeks, and will then transition into a simplified Employment Insurance (EI) program.

Read more from Financial Post

 

QuickBooks® Desktop Enterprise 21.0 includes new and improved features that benefit small businesses with more complex needs.

IMPROVED! Data level permissions

Included with: QuickBooks Desktop Enterprise 21.0 Platinum and Diamond subscription.

Accessible: See detailed steps that follow. User Roles are modified to include restrictions. Users are then assigned to those specific roles.

Features: Customize user access to view, edit, or delete from a specific group of customers, vendors, and data they are responsible for. Improve security and confidentiality by limiting user access to only the specific data, transactions, and reports they are responsible for.

Read more from Intuit


“No fun at all." That’s me – according to my kids. No Fun At All is also a punk rock band. If I didn’t know better, I’d assume that the band was made up of Canada Revenue Agency employees. But alas, the band actually hails from Sweden (maybe the band is made up of employees of Skatteverket – the Swedish tax authority).

Okay, maybe there are tax department employees who are actually lots of fun. Yet, when it comes to the Canada Emergency Response Benefit (CERB), it looks as if the taxman is poised to stop the fun for some people. As reported this week in The Globe and Mail, the government released draft legislation suggesting that it intends to prescribe fines, and even imprisonment, for those who have made CERB claims when they weren’t entitled to the benefit.

But how, exactly, will the government identify those who might have claimed CERB benefits when they shouldn’t have? The following are some of the procedures that are, no doubt, being considered by the taxman to identify those who have claimed CERB funds improperly (sorry for being a party-pooper here):

Read more from Globe and Mail