the most important self-employed tax deductions

The Most Important Self-Employed Tax Deductions

As a self-employed individual and small business owner, you are likely looking for the most important expenses to keep track of that can be deducted from your taxes. If you’re self-employed, read this blog to learn what the most important…

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14 Ways to Get a Bigger Tax Refund

As our T4s and other tax documents come in, you’re likely wondering how you can get as large of a tax refund as possible. At Gallo LLP, we go over every single document to make sure you have claimed everything…

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What Happens If You File Taxes Late

Many Canadians wonder every year what would happen if they file their taxes late. Tax season can be a stressful time. Whether you’re worried about getting all your documents in place and filing on time, or you are worried about…

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stethoscope and computer

What Tax Deductions Can Self-Employed Physicians Claim?

As a self-employed physician, your tax structure and deductions are different from a salaried physician. If you’re making the transition from a salaried employee to that of an independent, self-employed physician, you’re going to need a clear understanding of what…

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What are Tuition Tax Credits?

If you’re a Canadian post-secondary student, you’ve likely wondered what a tuition tax credit is and how to use it. Or, maybe you’ve looked on your CRA account and wondered what those carried over amounts are for. Understanding tuition tax…

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rental interior

When Do You Need to Report Rental Income?

Collecting rental income on a property is a fantastic way to help with mortgage costs and pay off an investment property. Rental income, though not associated with a paycheck, still needs to be reported alongside your income taxes. Not reporting…

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Edmonton skyline

Understanding Real Estate Accounting

Understanding real estate accounting can be a difficult process. In order to increase your revenue and improve your real estate business, you will need to understand what to track and how to keep your bookkeeping in order. As a property…

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