Articles: Tax Consultation

“Protecting What Matters Most” On April 11, 2019 Ontario’s Finance Minister Victor Fedeli tabled the province’s budget on April 11.  As expected, the budget includes a range of cost-cutting measures to help move the province towards a balanced budget but also introduced key spending initiatives. The budget focused on 4 key initiatives: Deficit reduction Child-care … Read more

If you’re a small business owner chances are you like doing things on your own. While there are a lot of benefits to running your own business, unless you love math and crunching numbers, odds are bookkeeping and preparing your taxes are not something you love to do. If this is the case, where do … Read more

If you don’t know where your break-even point of operating your business is, you’re in trouble when it comes to forecasting and planning for the future. New businesses, especially in the run-up to launch, have different break-even points than established businesses. Understanding where you fall is essential to determining whether you’re leaving money on the … Read more

Calculating Your Break-Even Point Budgeting your operations and calculating your break-even point is simple at its core. Determine your operating costs, including both fixed and controllable and find the point where your sales have covered your costs. To determine your break-even point or your operating cost, first, tally your fixed expenses. These are rent, utilities, … Read more

 “Building on a Strong Foundation” On 26 March 2019, Nova Scotia Finance and Treasury Board Minister Karen Casey tabled the province’s fiscal 2019–20 budget.   The budget contains several tax measures affecting individuals and corporations. The budget contains no new taxes and no tax increases. The minister anticipates a surplus of $33.6 million for 2019–20 … Read more

You’re Invited! Join our live webinar “Tax Season 101: Tax Tips for Business Owners” to learn more about: ✓ Important Changes for the 2018 tax filing season ✓ Tax tips for short and long term tax optimization ✓ How to avoid audit triggers that will get the attention of CRA Date: March 21, 2019 Time: … Read more

The Right Balance! On March 20, 2019, Finance Minister Donna Harpauer delivered her second budget as Finance Minister.  The budget is balanced and anticipates a surplus of $34.4 million for 2019-20 and $49 million for 2020-21. Although the budget does not include any new changes to the corporate or personal tax rates, it eliminates certain … Read more

“A Budget that works for all New Brunswickers”  On March 19, 2019, New Brunswick Finance Minister Cathy Rogers delivered the province’s 2019 budget. The budget focused on three key priorities: Investments in seniors; Youth employment; and Economic competitiveness. The 2018-2019 budget projects government revenues to increase by 1.77%, while expenses are expected to grow by … Read more

On March 19, 2019, the Honourable Bill Morneau presented his fourth budget as Minister of Finance. The 2019 Federal Budget, entitled “Investing in the Middle Class”, focuses on: Making Home ownership more affordable for first-time buyers. Help workers gain new skills. Preparing young Canadians for good jobs. Helping Canadians with the cost of prescription drugs. … Read more

Each year, business owners spend significant money on health care expenses for both their employees and themselves. Setting up a Health Spending Account (HSA) is an affordable way for Canadian small business owners to minimize their medical expense costs. Why an HSA? A Health Spending Account is a tax-efficient way to pay for health and … Read more