Articles: Business Insights

Long hours, harsh conditions, and a constant battle against the clock. As a truck driver, you’ve got a lot on your plate. But what about your taxes?

An important part of the Canadian tax system, a T4A slip, is also considered a statement of pension, retirement, annuity, or other income. This type of slip is issued to anyone who receives income that’s not considered employment-related, such as money earned from pensions, annuities, self-employment, and more.  What are the T4A requirements for contractors? … Read more

In an attempt to save money, small business owners often ask, “Can I do my own corporate taxes?” Our answer is: “Yes, of course you can!” However, it’s important to know what you are getting yourself into because DIY business tax filing can end up costing far more than hiring a tax specialist. Let’s take … Read more

Producers and agribusiness owners face unique challenges, especially when it comes to operating their businesses. It can be difficult to know where to look for assistance programs that focus on risk management and protecting agricultural producers from income and production losses.  The following initiatives were designed to help Canadian farmers manage risks that could threaten … Read more

For self-employed individuals, claiming tax deductions correctly can be a time-consuming, frustrating, and complex process, especially when it comes to tracking vehicle expenses.  Using your personal vehicle for business purposes or to earn business income allows you to deduct a certain percentage of related expenses, such as fuel and maintenance costs based on the mileage … Read more

Income splitting redistributes income within a family—typically from a higher-earning spouse in a higher tax bracket to a spouse in a lower tax bracket. This strategy may help reduce a family’s overall tax burden, by helping the higher-earning partner reduce their  tax bill.  Income splitting takes advantage of Canada’s progressive tax system, which imposes higher … Read more

As part of our commitment to helping you stay informed about the Covid-19 support programs available from the federal and provincial governments, we will also curate and share content that provides additional insights, perspectives and opinions from some of our business partners and other sources from around the web. This content is the work of … Read more

As part of our commitment to helping you stay informed about the COVID-19 support programs available from the federal and provincial governments, we will also curate and share content that provides additional insights, perspectives and opinions from some of our business partners and other sources from around the web. This content is the work of … Read more

Originally published April 29, 2020 The old ways of selling may not work during crisis times. Here are some other ways to attract and keep customers. Running a business isn’t easy — it’s a constant struggle to offer value, and provide reliable service, while remaining financially viable. All small business owners are familiar with the … Read more

Most small business experts agree – cash is king. Having cash in the bank rather than being tied up in inventory or receivables can protect your small business from potential threats. That’s true in the best of circumstances. It’s even more critical during a crisis when the survival of your business may be at stake. … Read more