Kanac

✨ Happy to be a part of KW Carnival 2025 ✨

It was a wonderful Onam celebration filled with joy, tradition, and Kerala vibes🌸.
So heartwarming to see Malayalees in Canada come together as one community and keep our culture alive ❤️💚💛.

A huge thank you to KW MalayaliHelp, the amazing sponsors, and all the hardworking volunteers who made this event so special 👏🌿.

🌸🌿🌼 From Kerala to Canada, Onam spirit unites us! 🌼🌿🌸

📧 [email protected]

📞 226-978-5746

**🍴 Attention Restaurant Owners: Maximize Your Tax Savings!**

Running a restaurant comes with unique tax challenges and opportunities. Here’s what you need to know:

✔ **Expense Deductions**: You can claim expenses like food and beverage inventory, employee wages, rent, and utilities.
✔ **GST/HST**: If your restaurant’s revenue exceeds $30,000, you need to register for and collect GST/HST on sales.
✔ **Capital Cost Allowance (CCA)**: Claim depreciation on assets like kitchen equipment and furniture.
✔ **Keep Accurate Records**: Ensure you track all sales, tips, and expenses to stay compliant with CRA regulations.

At Kanac Accounting, we specialize in helping restaurant owners navigate taxes and maximize savings.

📩 DM us today to get started!



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**💰 Tax Implications of Cryptocurrency in Canada!**

Are you investing in or trading cryptocurrency? It’s important to understand the **tax implications** to avoid any surprises during tax season. Here’s what you need to know:

✔ **Capital Gains**: If you sell your crypto for more than you paid, the profit is taxable as a capital gain.
✔ **Business Income**: If you trade crypto frequently or as part of your business, it may be considered business income, subject to higher tax rates.
✔ **Reporting**: You must report all crypto transactions on your tax return, including trades, sales, and conversions.
✔ **Mining**: Crypto mining is taxable as business income, and you must report any coins earned.

At Kanac Accounting, we help you navigate the complexities of crypto taxation and ensure you’re compliant with CRA rules.

📩 DM us to discuss how we can help you!

🚚 Attention Delivery Drivers: Know Your Tax Obligations!

Are you driving for delivery services? Understanding your tax responsibilities to stay compliant and avoid penalties is important. Here’s what you need to know:

✔ Income Reporting: All earnings, including tips, are taxable and must be reported on your tax return.
✔ Expenses: You can deduct expenses like fuel, vehicle maintenance, and even part of your phone bill, if used for work.
✔ GST/HST: If you earn over $30,000 annually, you must register for GST/HST and file returns.
✔ Keep Records: Maintain detailed logs of trips, expenses, and income for accurate reporting.

At Kanac Accounting, we help delivery drivers manage their taxes and maximize deductions so you can focus on the road.

📩 DM us today to get started!


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