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Shareholder Loans: How Do They Work In Canada? (2025)

shareholder loan blog fbc

Last updated: Feb. 7, 2025 
As Canadian interest rates continue to soar, the idea of taking out a loan from your corporation at no or low interest may be increasingly appealing. But, before you start using a shareholder loan account, it’s important that you understand the associated tax impact and implications. While shareholder loans may initially … Read more

2025 Canadian Corporate Tax Rates and Deadlines

2023 corp tax rates canada

Last updated: Jan. 9, 2025 
As we wind down another challenging year of dealing with historic inflation, the last thing you want to think about is taxes. However, with profit margins tighter than ever, this is exactly the right time to take steps to minimize your tax burden. For incorporated businesses, this starts with understanding your … Read more

Understanding Capital Gains Exemption for Farm Property

Canadian farmer on his property considering capital gains exemptions.

Last updated: Mar. 5, 2024 
Understanding Capital Gains Exemption for Farm Property  When the time comes to sell the family farm, understanding capital gains taxes and exemptions can help you ensure you and the next generation will thrive.  Calculating Your Farm’s Capital Gain or Loss  As you may know, a capital gain or loss is triggered … Read more

TFSA vs. Personal Account: Which Is Right for You?

Person doing research on a TSFA vs. a personal account.

Last updated: Feb. 21, 2024 
Whether you want to establish an emergency fund, set aside money for retirement, or compile cash for a down payment on a house, you might think your only option is to open a savings account at your local bank. Although a savings account is a fantastic way to save money, there … Read more

Converting an RRSP to an RRIF

older couple walking arm in arm

Last updated: Feb. 13, 2024 
You’ve been saving money for years in your registered retirement savings plan (RRSP) and now it’s time to cash in. You could take out all the money at once if you wanted, but it’s a better idea to convert the RRSP to a registered retirement investment fund (RRIF). The RRIF … Read more

Tax Tips for Bringing Personal Assets into a Business

Tax Tips for Bringing Personal Assets into a Business

Last updated: Dec. 22, 2023  Most small business owners use some of their personal assets to get their businesses up and running. In fact, banks want to see that you have a personal stake in the business before lending any money. In addition to seeing you use your personal money, this can also include using … Read more

How to manage your taxes if you are self-employed [7 tips]

How to manage your taxes if you're self-employed

Last updated: Dec. 22, 2023  If you’re self-employed, you already know how stressful tax preparation and planning can be – keeping track of receipts, staying up-to-date on the Canada Revenue Agency’s policies, and ensuring you’re capturing all of your deductions and expenses. Luckily, we have 7 tried-and-true tax tips that will help you stay on track … Read more

Choosing the right business structure

Last updated: Dec. 22, 2023  Congratulations! You’ve decided to start your own business. There’s probably a million different things running through your head right now. And before you order business cards and a World’s Best Boss mug for your desk, you’ll have to give some thought to business structure. Sole proprietorships, partnerships and corporations are … Read more