Neno Vukosa Professional Corporation Blog

Neno Vukosa Professional Corporation is pleased to provide a variety of resources on accounting, bookkeeping taxation, and other related subjects that we hope will be helpful to both individuals and businesses.

If you have any questions, simply contact us by email or call 416 347-3993 or toll free 1-844-674-7656. We will be happy to meet with you for a free, no-obligation consultation.

What's Better For Savings, a TFSA or an RRSP?

The choice between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP) depends on various factors, including your financial goals, current income, and retirement plans. Here are some key considerations for both:

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Tax Refunds for a College Student in Canada

How to maximize tax refunds as a college student in Canada

Maximizing your tax refunds as a college student in Canada involves understanding the tax credits and deductions available to you and ensuring you claim them correctly on your tax return. Here are some tips to help you maximize your tax refunds:

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Canadian Tax Changes for 2024

We have compiled a list of Tax Changes and adjustments that are anticipated to affect most Canadians in 2024.

The details here offer estimates for elevated payroll taxes, mandatory contributions to the Canada Pension Plan and Employment Insurance. It also covers increases in carbon and alcohol taxes plus the effect of the possible Digital Services Tax.

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Year-End Preparations for Canada's Income Tax

As tax laws and regulations change, it's crucial to consult with a tax professional or check the latest resources for the most up-to-date information.

Here are some common steps individuals may take at the end of the tax year:

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Christmas Scams and How to Stay Safe

During the holiday season, scammers often take advantage of the festive atmosphere and people's increased online activities. Christmas scams can take various forms, but some common tactics include:

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Tips on How to Avoid Online Scams

Avoiding online scams in Canada (or anywhere else) involves being vigilant, informed, and taking proactive measures to protect your personal and financial information. Here are some tips to help you avoid online scams:

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Do you do your own taxes?

Do you consider yourself a DIY type of person?

How about the office worker who can help their neighbour with a computer problem or can cook a gourmet meal for a group of 10 at the drop of a hat? All this, in addition to being able to keep his workplace organized. You probably know people like that who display genius in many areas, on demand. Good for them; they can be treasures when you need a friend as they can sometimes save you money.

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Tax Planning - Start Now to Create Wealth

Engaging in tax planning from the beginning of the year means that you can enjoy the benefits at tax time.

Tax planning is the broad concept of tax efficiency. Tax efficiency considers the larger financial picture incorporating individual age, goals, tolerance for risk and investment timeline. By incorporating tax planning, you uphold long-term wealth creation and protect your capital.

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Business People Need to Monitor These Indicators

Maintaining good financial management is crucial to a firm’s survival. Timely and informed decisions are much easier when responding to changing conditions in today’s business world.

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