MOAAZ SHEIKH, CA, CPA

YOUR TRUSTED TAX ACCOUNTANT IN NEWMARKET, ON

At Moaaz Sheikh, CA, CPA we know how important experience is for our clients. We have been working passionately to meet our client’s Taxation, Accounting and Business Consulting need since 2003. Our team of professional tax accountants is led by Moaaz Sheikh, who obtained his CA designation in 1999 while working for PwC in Toronto. He subsequently worked for Magna International as a cost estimator and program accountant. Moaaz has an MBA with a specialization in marketing and has extensive experience working in his family’s business. This unique background enables Moaaz to better understand his client’s Taxation, Accounting, and Business needs.

Our diligent and customer-centric approach has won us hundreds of satisfied clients (as evident from the testimonials) over the last 17 years. We take pride in developing and maintaining long-term relations with our clients, this is the reason why we have a very high client retention rate. We are your trusted business advisors going the extra mile to help you grow your business. Feel free to set up a consultation with Moaaz Sheikh, CA, CPA for all your Taxation, Accounting, and Business questions serving in Newmarket, Keswick, Aurora, Richmond Hill, Bradford & its suburbs.

­­Zero Emissions Vehicles Deduction / Write-off up to $55,000 plus tax

February 5, 2021/0 Comments/in COVID19, Electric & Hybrid Vehicles, Tax /by newadmin

If you are in the process of buying a vehicle it may be of interest to note that purchasing fully electric, plug-in hybrid vehicles with a certain battery capacity and hydrogen vehicles can give you a higher amount of write-off compared to other vehicles.

Zero emissions vehicles acquired after March 18, 2019, and before 2024 can have all the cost (up to a maximum of $55,000 plus tax) written off in one year if the vehicle is purchased new. To qualify, the vehicle has to be either fully electric, a plug-in hybrid with a battery capacity of at least 7 kWh, or fully powered by Hydrogen.

There are certain restrictions and limitations around the application of these rules and it is highly recommended that you contact your CPA to determine their suitability and resulting tax implications for you. You can also reach us by email at [email protected] for more information.

Tax Implications of COVID-19 related Government Benefits for Businesses

February 5, 2021/0 Comments/in COVID19, Tax /by newadmin

COVID-19 certainly changed our lives in 2020 in many ways, not the least of which has been its economic impact. Many businesses had to close their operations for extended periods of time, while others had to revamp how they operate in order to survive the pandemic. Canadian Government offered several relief programs for businesses and individuals to help them survive during this period.  As we start the new year with the hope that lockdowns and vaccines will curb the spread of CIVID and life will return to normalcy, it is important to keep account of the funds our businesses received under different relief programs and be aware of their income tax implications.