1. Individuals Individuals who own rental property need to calculate the income or loss from the property for each calendar year. This is then adjusted with the other personal income for the year. If the property is co-owned, then each co-owner must individually report their rental income according to the portion owned. Keep in mind…Read more
About: Syed A. Raza CPA, CGA
Syed A. Raza obtained his MBA degree in 1993 and has experienced working in various fields that include banking, manufacturing, wholesale, retail, distribution, and public practice. A CPA/CGA and Licensed public accountant with specialization in tax planning and tax-related services, he has effectively done accounting work for both small to mid-size firms in Toronto. If you’re a physician, lawyer, wholesale business owner, restaurateur, a non-profit organization, or any type of corporation, the services of Syed A. Raza Professional Corporation will reduce all the complicated paper work, perform crucial accounting operations, and offer you more ways to focus on your core operations.
Recent Posts by Syed A. Raza CPA, CGA
The Canada Revenue Agency (CRA) sends around 30,000 letters every year letting people know that they’re being audited. While this is just a fraction of the 27 million people who file their taxes, you shouldn’t assume that getting an audit notice is completely random. Your chances of getting audited decrease if you keep an eye…Read more
A Health Spending Account (HSA) is a self-insured health plan which can be arranged by employers for their employees. Small business owners spend a considerable amount of money every year on medical expenses for themselves and their employees. An HSA offers an affordable way for owner-managers to reduce these expenses. Reasons for Choosing an HSA…Read more
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