GMS Chartered Professional Accountants
(905) 919-3543
info@gmscpa.ca
  • Home
  • About Our Firm
    • Why GMS
    • Careers
    • Community Leadership
    • Gallery
  • Our Team
    • Celia Meikle, CPA, CA, LPA
    • Ken Green, MBA, CPA, CA, LPA
    • Kiran Razzaq, MBA
    • Kika Okoh
  • Our Approach
  • Our Services
    • GMS Inner Circle for Churches
    • Tax & Accounting
    • Audit, Review & Other Assurance Services
    • Bookkeeping & Payroll
    • Business Advisory Services
    • Internal Controls/Internal Audit Services
    • Services for Medical Professionals
    • Advice-only Financial Planning
    • Charities & Not-for-profit organizations
    • Self-Employed Professionals & Professional Corporations
    • Established Businesses
    • Start-ups
  • Blog
  • Testimonials
  • Contact Us
  • COVID-19

DON’T BE A FOOL…

August 1, 2017gmscpaPersonal Finance; Retirement Planning

After tax season, one of the things we recommend to our clients is to set aside time to review their tax return and start thinking about opportunities to improve their tax situation in the months and years ahead. In other words, to start making plans to ensure they are using all legal strategies available to…

Read More

8 REASONS YOU’RE HAVING A TOUGH TIME WITH THE TAXMAN

July 30, 2017gmscpaCorporate Taxes, HST, Personal Taxes, Tax & Tax Planning

At GMS, we have found that many of the difficult interactions with CRA can be avoided by a simple shift in how we approach them.   The top 8 reasons that cause this strained/difficult relationship are highlighted below. We have included suggestions on how to avoid or get out of these situations, if you have…

Read More

TOP 13 WAYS THAT THE 2017 FEDERAL BUDGET IMPACTS YOU

July 28, 2017gmscpaCorporate Taxes, Personal Taxes, Tax & Tax Planning

Caregiver tax credit now consolidated. Dependant does not have to live with you in order for you to claim this credit. Credit can no longer be claimed for seniors who are not sick, and who reside with their adult children. Elimination or modification of some tax credits – loss of public transit amount (July 2017),…

Read More

BEWARE! YOU MAY BE PAYING TAXES ON SALE OF YOUR PRINCIPAL RESIDENCE

July 26, 2017gmscpaPersonal Taxes

On October 3, 2016, the Government announced an administrative change to Canada Revenue Agency’s reporting requirements for the sale of a principal residence. A principal residence is considered your primary home of residence, a home that is ordinarily inhabited by the taxpayer or by his or her spouse or common-law partner, former spouse or common-law…

Read More

THE PURPOSE DRIVEN BUSINESS: WHY IT IS IMPORTANT TO COMMUNICATE WHY YOU DO

July 25, 2017gmscpaSmall Business

In today’s world of economic turmoil, I believe that the key to building up Canada’s economy is by strengthening Canadian businesses. Over 69.7% of the Canadian private labour force in 2012 worked for small businesses, start-ups and professional businesses. Small businesses are therefore the backbone of our economy and create the added benefit of strengthening…

Read More

INCORPORATING YOUR BUSINESS

July 24, 2017gmscpaCorporate Taxes, Small Business, Tax & Tax Planning

As a business owner, you’re likely to face the decision of whether to incorporate once your business becomes successful. You’ll need to base your decision on a number of factors, both commercial and tax related. Incorporation can bring a number of commercial benefits, such as: The potential for liability is limited to assets owned by…

Read More

7 BUSINESS TRUTHS NOT TAUGHT ANYWHERE BUT ESSENTIAL FOR SUCCESS

July 14, 2017gmscpaSmall Business

A few years ago, my firm hosted a special event for our business clients and other close business associates. Our special guest, Nick Karadza of Rock Star Real Estate shared some insights that are essential for business success. Here is a summary of the points shared by Nick that still hold true today: It’s about…

Read More

CLARITY IS CRITICAL! WITHOUT IT, YOU WILL FAIL TO REACH YOUR GOALS

July 12, 2017gmscpaPersonal Finance, Retirement Planning

My goal is to retire at age 55. For a long time, I’ve had this retirement age in mind. I’m 45 now and only have 10 years left to achieve my retirement goals. Like most people, I’ve always had a vague picture of what I want my retirement to look like – sufficient passive income…

Read More

HOW PREPARED ARE YOU?

July 11, 2017gmscpaTax & Tax Planning

Following the increase in activities in the Canadian real estate market over the last couple of years, the CRA currently has a significant audit initiative underway that will impact taxpayers buying and selling real estate. The initiative is aimed at challenging various positions taken by individuals on tax returns and forms filed with the government….

Read More

WILL YOU BENEFIT FROM THE LIBERAL TAX PLAN IN 2016 AND IN THE YEARS AHEAD?

July 9, 2017gmscpaCorporate Taxes, Personal Taxes, Tax & Tax Planning

This year, most of us will have more money in our pockets…thanks to the Liberal government’s tax cut. As some of you may already know, the Prime Minister wasted no time in implementing his campaign promise to reduce the rate for the middle-income bracket (income between $45,282 to $90,563) from 22 percent to 20.5 percent….

Read More

Posts navigation

< 1 2 3 4 >

Experience the difference we bring to traditional accounting services.

https://youtu.be/i4B9DLMUz0g

FREE RESOURCES FOR CHURCHES AND CHARITIES/NFPO

Click here to subscribe

SHAVE HOURS OFF YOUR BOOKKEEPING WITH THIS FREE RESOURCE GUIDE

Click here to subscribe

Connect on Facebook?

Tweets by GMS

Tweets by GMSCAfirm

Recent Posts

  • Attention: Black Business Owners and Aspiring Black Business Owners – We Invite You To Join Us For 5 Days of Business Training Starting Oct 5
  • How To Get A $10,000 Gift And Potentially Double It In Two Years
  • 5 Reasons Why Most People Don’t Use Insurance As A Tool For Wealth Planning
  • CRA Challenges A Photographer’s Source Of Income 
  • Hand In Hand – How To Multiply Your Impact And Tax Savings With The Creative Use Of Life Insurance

Categories

  • Corporate Taxes
  • HST
  • Personal Finance
  • Personal Finance; Retirement Planning
  • Personal Taxes
  • Retirement Planning
  • Small Business
  • Tax & Tax Planning
  • Uncategorized

Archives

  • September 2020
  • May 2020
  • December 2018
  • June 2018
  • March 2018
  • January 2018
  • December 2017
  • November 2017
  • September 2017
  • August 2017
  • July 2017

Quick Links

  • Blog
  • Resources
  • Privacy
  • Testimonials
  • Contact Us
  • Community Leadership
  • Gallery

Contact Us

GMS Professional Corporation, Chartered Professional Accountants 5484 Tomken Road, Unit 34, Mississauga, ON L4W 2Z6
(905) 919-3543
info@gmscpa.ca

Follow Us

Facebook
Twitter
LinkedIn

Our Professional Association

Content copyright 2018. GMS Professional Corporation. All rights reserved.