Canada-wide Toll Free:

Tax Planning

2024 Canadian Corporate Tax Rates and Deadlines

2023 corp tax rates canada

Last updated: Apr. 29, 2024 
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

How to keep audit-proof mileage logs that lower your taxes

man driving vehicle grey jacket

Last updated: Feb. 13, 2024 
A big perk of using your personal vehicle for business when you’re self-employed is writing off your motor vehicle expenses. But if you’re doing this without keeping a mileage log, the CRA could reject your claims for these expenses. The good news is that by following our advice, you can … 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

Should I use an RRSP or TFSA as a business owner?

Piles of coins depicting money growth rrsp or tfsa

Last updated: Jan. 26, 2024 
If you’re self-employed or a small business owner, saving for retirement comes with a unique set of challenges, which may include:  You lack access to an employer-funded savings plan. You’re putting as much of your own money into the business as possible.  You’re extremely focused on the growth of your … 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

7 Year-End Tax Planning Tips for Small Business Owners

professional on phone in workspace

Last updated: Dec. 22, 2023 
*UPDATED FOR 2023* The calendar year may be winding down, but there’s still time to make your year-end tax planning a little less stressful. To help, we’ve assembled seven of our best year-end tax tips to help you lower your tax burden and boost your bottom line. Organize your files … Read more

Canadian small business tax planning strategies

Small business person using tax planning strategies to prepare their taxes.

Last updated: Dec. 22, 2023 
Small business owners are entrepreneurs. Known for having great ideas, they’re passionate about their products or services and want to change the world. This laser-sharp focus often won’t leave them with enough time or energy to handle their taxes. It’s never too early to start thinking about tax planning strategies … Read more

7 simple ways to organize your receipts

Last updated: Dec. 22, 2023 
Does the thought of organizing your receipts fill you with dread? It can seem overwhelming to keep track of your receipts and record keeping on top of the demands of running your own business. It may not be at the top of your list, but if you’re self-employed or a … Read more