Difference between tax preparer and tax adviser (tax adviser, tax expert or tax consultant)
When it comes to your personal taxes (or corporate taxes) in Canada, it is very important that you get to the right tax professional!
Read: Should you do your taxes yourself or...
Should you do your taxes yourself or hire a professional tax help in Canada
Spring is near but the tax season is already there!
You don’t want to waste away such a beautiful time of the year stressing over your taxes, right?
Why not start preparing...
Become your own boss! The Guide to Get Started With Your Business
Live life on your own terms!
In the age of start-ups and the rise of entrepreneurship, do not be a job seeker, but eke out a job maker!
Do not let your employer bulldoze you...
Short-term residents of Canada and Income Tax
Canada taxes its residents on the worldwide income. When an individual becomes a resident of Canada by immigration or leaves Canada as an emigrant, there are specific income...
Personal Income Tax Rates for Canada – 2020
Personal Income tax rates for Canada for 2020.
The rates below are only for the province of Ontario. If you are residing in a different province, please contact our individual...
Corporation Income Tax Rates – Canada 2019 and 2020
Corporate Tax Rates for CCPC 2019 – 2020
The federal and provincial tax rates in Canada for a Canadian Controlled Private Corporation, also commonly known as CCPC, are...
Salary Vs. Dividend – How to withdraw from your Corporation?
Small business owners are often faced with a crucial question of how they should get paid from their corporations.
Two common ways small business owners get paid from their...
Tax on Split Income (TOSI) Rules
For the tax years starting January 2018, TOSI Rules are applicable. Expanded TOSI rules apply to adult individuals receiving amounts from the “related business”.
Prior to...
RRSP Contribution and Strategies
Contributing to a Registered Retirement Savings Plan (RRSP) is a great way to grow your savings in a tax-deferred environment. Whatever income earned inside the RRSP is not...
Important considerations while paying Management Fee in Canada
What is a Management Fee?
Often, businesses in Canada use multiple entities to run their operations or there are allocations of Management fees because of the centralization...
How to Successfully Outsource your Accounting?
Running a business can be quite expensive, especially when you hire full-time or part-time employees for tasks that can be conveniently outsourced. One of those tasks is...
Year End Tax Planning for Businesses– Owner-Manager or Shareholder Manager
If you are an owner-manager of a Canadian Controlled Private Corporation (CCPC) you can use certain tax planning strategies to optimize both personal taxes and corporation...