Mistakes on your tax return happen — but they don’t have to cost you. Learn how to amend your return, respond to CRA reassessments, and understand your rights as a taxpayer. KLV Accounting explains when to file an adjustment, how penalties and interest work, and what to do if you receive a Notice of Reassessment.

Filing your taxes on time is key to avoiding penalties and protecting your benefits. Learn the essentials of Canadian tax filing, including deadlines, penalties for late filing, required slips, and filing methods. We also cover the benefits of using CRA My Account and tips for a smooth filing process so you can stay compliant and stress-free.

Tax instalments are periodic payments required when not enough tax is withheld at source. Self-employed individuals, investors, and pensioners often need to make these quarterly payments. Learn who needs to pay, how CRA calculates instalments, the risks of underpaying, and strategies to avoid costly interest and penalties. KLV Accounting can help you manage instalments effectively and reduce financial stress.

Income tax deducted at source ensures Canadians meet their tax obligations throughout the year. Whether from employment, pensions, or investments, withholdings act as advance payments toward your taxes. Understanding how they’re calculated, how they impact your return, and how to adjust them can help you avoid large balances owing or overpayments at tax time.

Understanding how taxes payable are calculated is key to managing your tax liability in Canada. From taxable income and marginal rates to credits, refunds, and payment strategies, this blog breaks down how to calculate what you owe and how to pay it efficiently. Learn how to avoid penalties, maximize refunds, and keep your finances on track.

Employment expense deductions can greatly reduce your tax burden if you meet CRA requirements. This blog explains which work-related expenses Canadian employees can claim, eligibility rules, key tips for maximizing deductions, and how to avoid common mistakes when filing your taxes.

Gain a clear understanding of individual taxation in Canada, from income tax basics to deductions, credits, and tax brackets.