Year-End Transportation Tax Tips for Canadian Truckers
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?
Tax Planning
New Capital Gains Rules: Impact on Farm Property Sales & Transfers
Misunderstandings swirled as farmers tried to prepare for the impact of the new capital gains inclusion rates, which took effect in June 2024.
Alternative Minimum Tax (AMT) Changes: Everything You Need to Know
While most Canadians are never subject to Alternative Minimum Tax (AMT), business owners who generate high income may find themselves subject to this alternative tax regime.
Year-End Tax Strategies to Maximize Savings for Tradespeople
As a self-employed tradesperson, juggling jobs, quotes, and invoices keeps you busy enough – never mind thinking about taxes before they’re due.
Cultivate a Prosperous Future: Year-End Tax Strategies for Farmers
Like farming, tax planning is a year-round activity, and the end of the calendar year is the perfect time to implement strategies to maximize tax savings.
Home Office Expenses: A Guide for Canadian Employers
The shift to remote work has become the new normal. One of the biggest questions is: what are my responsibilities when it comes to home office expenses?
Explaining Capital Gains: New Inclusion Rates Simplified.
Whether you sold off assets or hedged your bets before the new capital gains rules kicked in on June 25, understanding these changes is crucial.
How to keep audit-proof mileage logs that lower your taxes
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
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