Articles

For this week’s blog post we want to highlight some tips from another great financial blog for small businesses. Kashoo, Simple Cloud Accounting, polled their community for tips and tricks that will help you dominate your fiscal year-end. Here’s a highlight of some of the tips from their blog post. Reconcile your accounts You can … Read more

Before your year-end is the time to plan for potential tax losses. If you have a losing position you can use that to offset capital gains. You must first apply a capital loss against a capital gain in the current year. Any excess can be applied against capital gains in the past 3 years or … Read more

If you hire apprentices then you could receive up to $16,500 in tax credits. Amounts vary by province. Federal – Apprenticeship Job Creation Tax Credit The Apprenticeship Job Creation Tax Credit is a non-refundable tax credit equal to 10% of the salaries and wages payable to eligible apprentices. The maximum credit an employer can claim … Read more

As a small business owner you’re faced with many rules and regulations, not just government, but also for your specific trade or profession. It can often be overwhelming trying to keep track of all the requirements. Here’s a short list of 5 things that you can be aware of to ensure you meet CRA’s requirements … Read more

With the baby boomers at or near retirement it’s nice to know that the government has some extra tax credits available. If you’re not thinking about retirement yet you probably know someone who is. Be sure to share this information with them so they don’t miss out on any of these tax savings or tax … Read more

AgriStability and AgriInvest are the backbone of federal and provincial business risk management (BRM) programs for the Canadian agricultural community. Business risk management represents fully 67% and 73% respectively of federal and provincial expenditures on agriculture in Canada. To gain some perspective on just how important these payments are to the farming community, program payments … Read more

The government is encouraging taxpayers to be charitable and is being charitable in return with the First-Time Donor’s Super Tax Credit. Perhaps the downturn in the economy the past few years caused you to hold back on donations to charitable organizations. Perhaps reduced income or job loss restricted your generosity as you looked to take … Read more

The Competition Bureau, a federal government agency, offers a few tips for you to be aware of to help avoid a scam. Always get independent advice if an offer involves Money Personal information Time, or Commitment There are no guaranteed get-rich quick schemes.   Often, the only people who make money are the scammers.   … Read more

For many, tax planning means the once-a-year mad scramble to organize all the necessary paperwork right before the tax filing deadline. In reality, this is not tax planning. Real tax planning requires a comprehensive approach to your finances and should be tackled year-round. To reduce the anxiety, careful planning for your tax obligations should be … Read more

Earlier this week, we mentioned a news article that highlighted recent increases in the values of farmland. That article discussed the possibility of accessing the equity you may have in your home or farm property to reinvest in the business. Along with the increased land values, Canadian farmers will be faced with an increased tax … Read more