Last updated: Jul. 10, 2019
You’re likely familiar with the Registered Retirement Savings Plan (RRSP), which gives Canadians a way to shelter income tax until retirement, but have you considered a Group Retirement Savings Plan (RSP) for your employees? How does a Group RSP work? A Group RSP is a group retirement savings plan managed and … Read more
Last updated: Jun. 10, 2019
Will planning may not be at the top of your to-do list, but a will is the foundation of your estate planning, helping protect your family and assets. And the sooner you make a will, the better. You are not legally required to make a will, but in Canada if you … Read more
Last updated: May. 29, 2019
The more tax credits you can take advantage of, the lower your taxable income will be. There are some refundable tax credits you can use even if you don’t owe any taxes. Keep reading to discover an important tax tip if you’re self-employed and have children. What Is the Canada Child … Read more
Last updated: May. 9, 2019
It takes a lot of work to get a business up and running, and even more work to make it a success. There are also a lot of things that need to be done when closing a business, whether it’s a sole proprietorship, partnership or corporation. Taking care of any tax … Read more
Last updated: Mar. 13, 2019
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 … Read more
Last updated: Dec. 19, 2018
We wanted to make sure that all dairy producers are aware of this program and the upcoming deadlines to participate. Be sure to share this with any dairy producers that you know. Phase Two Recently Announced The Dairy Farm Investment Program is a five-year $250-million program to help Canadian cow milk … Read more
Last updated: Nov. 15, 2018
Money Saving Tax Tips for Small Business Owners The idea of paying taxes every year, especially more than you need to, can be depressing. While you can’t sidestep income tax, you can take advantage of a number of small business tax strategies to help reduce the amount of income tax you … Read more
Last updated: Oct. 3, 2018
If you are an owner operator truck driver in Canada, there are a large number of tax deductions that you can take advantage of (and should). Maximizing your tax deductions minimizes your tax burden, which results in you keeping more of your hard-earned money. Below are some tax tips long-haul Canadian … Read more
Last updated: Sep. 19, 2018
Long-haul truck driving in Canada can be grueling, with drivers working 13 hours per day, and even longer if they work north of the 60th parallel. While the average salary ranges from $55,000 to $65,000 per year, long-haul drivers are often paid bonuses, enabling them to earn significantly more. Unfortunately, this … Read more