When it comes time to take money out of your business, what’s the most beneficial way? Some business owners choose to set up a set salary while others take a dividend. Both of these methods come with tax advantages and disadvantages that need to be considered to make the best choice for your situation. What …
Placing a Business Car in Service: Buy or Lease? Placing a car in service in your business provides more than just transportation to and from client meetings. In fact, one of the top business deductions that small business owners utilize is the auto deduction. This leaves business owners facing a dilemma: buying or leasing? Both …
Buying vs Leasing A Vehicle For A Business In Canada Read More »
Saving for retirement is no easy task, especially with the uncertainty surrounding financial markets and employment. This is why it’s no surprise that over 15 million Canadians have turned to TFSAs to help them plan for future retirement. Due to the tax advantages of TFSAs, the CRA implements strict policies surrounding contributions, making it important …
Are you constantly stressed during tax time? How about struggling to meet tax deadlines and unsure if you are filing correct returns? If so, you aren’t alone. Many Canadians believe they can file their own returns using online software programs; however, this opens the door to errors and increased stress. Avoiding costly mistakes, enjoying additional …
The Government of Canada released recent statistics that show nearly 28,100,000 returns were filed from February to June of 2022. Out of all these returns, more than just a few are likely to be selected for an audit. Are you fully prepared if you are selected? Hiring a professional for your tax returns provides a …
Why Should You Hire a Professional for Your Tax Return? Read More »
Filing your individual tax return by April 30 each year is only half the battle for many Canadians with figuring out how to pay any taxes due on the other end. Due to tax laws constantly changing, you may be among the list of Canadians who were hit with an unexpected tax bill when you …
According to recent statistics, 40% of Canadians have uncertainty surrounding their retirement with another 14% expecting to never retire. Do you fall into one of these categories? If so, now is the perfect time to rethink your retirement strategy and weigh the benefits of RRSP. Understanding what an RRSP is and both the tax and …
Tax season is upon us, and once again it’s time to drag out those boxes of expense records you’ve been saving all year. Having a good handle on your taxes is important but if you start looking for additional ways to reduce what you pay, that’s even better. More and more Canadians are starting to …
One of the most important things for any small business is to be organized and in control. The first step to doing this is to create a budget for your business. But what if you’re self-employed? The task can seem even more daunting because you have no boss or no one checking up on you. …
COVID 19 continues to impact the world, changing the way people run their lives and disrupting the flow of business. As a result, people are continually looking for support to get through this time of crisis. Governments all over the world stepped in to offer relief to their citizens by offering them a benefits package …
