We specialize in preparing cryptocurrency tax returns. We review and inspect the Crypto Proceeds of Disposition, Adjusted Cost Base (ACB) and Crypto Exchange Fees to ensure it's completely accurate before E-Filing your tax returns.

There are two ways of calculating Crypto Taxes, Business Income and Capital gain. To help distinguish between the two, go through the following;

• Business Income:
  • Cryptocurrency trading ( Buying / selling Crypto Frequently)
  • Holding for a short period of time
  • Cryptocurrency Mining / Intention to make a profit
• Capital Gain:
  • Holding for investment purposes

We represent our clients with the CRA to manage their tax matters and to update them with the latest information in their CRA file.

There have been many changes in the past few years with accounting and bookkeeping software. Cloud-based bookkeeping users have access to their data from any computer. Real-time access to data enables better business management. Clients like it for many reasons:

1. Scan and email documents
2. Collect monies through Electronic Funds Transfer - EFT or deposit cheques via your phone
3. Pay suppliers through EFT
4. Pay Salaries by Direct Deposit
5. Safeguard all your files in the cloud
6. 24-7 access to all your data
7. Electronically generated financial statements 

Although we have a local address, we provide virtual services and can support clients across the country as well as overseas. 

• it makes information accessible from virtually any location and any device
• it provides automatic backup for valuable data
• it allows easy access to information for members of a team
• it supports workplace flexibility
• it is cost-effective

Technology is changing the way we support you in your businesses. With the rising acceptance of cloud-based accounting, we can assist business owners like yourself with more meaningful conversations about strategy, growth, and profitability, in real-time, as opposed to retrospective conversations.

The saying goes, the only two things guaranteed in life are, “death” and “taxes”. Even if that is true, you can take advantage of various tax strategies to reduce the income tax that is triggered on death. The lower the tax the greater the funds available to your heirs. By taking a bit of time to plan ahead, they will thank you for undertaking some of the steps.

If you avoid planning for your estate, you may leave a significant income tax liability when you are gone. Death and death taxes happen simultaneously and you may find that in this situation a significant portion of your income is taxed in a top tax bracket, therefore losing about 45 percent to the CRA.

Although it’s never pleasant to think of our own passing, the possibility of paying less tax usually brings a smile to your face. There are a number of ways you can reduce the income tax exposure you may have at death. To save your family the heartbreaking trouble of dealing with unanswered questions arising from your death, you should act now while you have time to think about the options and put the plan into place.

Call us today to arrange a consultation. We can guide you through the steps to ensure your estate is prepared ahead of time.