Entries by Homeroom Team

Homeroom Client of the Month: Mala Collective

This month’s client of the month is Ashley Wray co-owner of  Mala Collective an online store and wholesale distributor that sells hand made Mala Beads. Simply stated, mala beads are a set of beads that are traditionally been used in prayer and meditation — often called prayer beads. All of Mala Collectives jewelry is handmade, fair trade, authentic, and blessed […]

Spotlight on Haigan Day- Homeroom’s New Girl

We have recruited a new member to our Homeroom Team and we are really excited to introduce her to you. Haigan Day joined Homeroom at the beginning of March 2014. She enjoys putting her quick fingers and detective skills to work, entering data and helping with many different companies. When she’s not at Homeroom, Haigan […]

IMPORTANT: CRA Online Filing System Down

Hello Valued Homeroom Clients, We wanted to inform you that we received a statement (below) from the Canada Revenue Agency informing us that their online filing system has been shut down due to a security threat. The minister has confirmed that taxpayers will not be penalized for this service interruption. We want you to know […]

Home office tax deductions

Do you know how to properly claim your home office as an expense? In order to deduct expenses, the workspace must either be: the place where the individual principally (more than 50% of the time) performs administration or employment duties, or used on a regular and continuous basis, for meeting customers or other persons in […]

The Truth About Meals

Do you know how to properly deduct your meal expenses? There are different rules for different people depending on who you are, who you work for, and what your employment contract states when it comes to deducting your meals. The 50% Rule: The maximum amount you can claim for food, beverages, and entertainment expenses is 50% of either the […]

What you need to know about PST

On April 1st, 2013 BC eliminated HST and returned to PST, a retail sales tax that applies when a taxable good or service is acquired for personal or business use unless a specific exemption applies. GST will be 5% and PST tax rates will be: General rate: 7% of the purchase or lease price. Liquor: […]

The 12 Craziest Write-Offs of 2012

Homeroom proudly presents: The 12 Craziest Write-Offs of 2012: weird & wonderful things we’ve had receipts turned in for last year.  The first Crazy Write-Off: receipts came in for a beta, a Hamster & a Kitty. They’re cute yes, but not tax deductible. The 2nd Crazy Write-Off: receipts came in for 2 packs of diapers. […]

5 common bookkeeping mistakes

1. Ignoring CRA correspondence Ignoring the brown envelopes from the CRA won’t make them disappear, and chances are that it might not be as bad as you think. Having someone who is used to reading these letters can ease your mind by deciphering what needs to be done. From experience, being pro-active and keeping in […]

Welcome to our blog.

We are happy to announce the launch of our new Blog.  Please check back often because we will be posting all sorts of useful resources and interesting articles. Stay posted!