Which Charitable Donations Give You a Tax Break?
Donations can take many forms, but there are specific rules about what types of donations qualify for a tax break in Canada.
Optimizing Your Farm’s Tax Strategy
When it comes to farm work, it’s not unusual to offer additional perks for employees.
The Truth About Interspousal Transfers on Farm Properties
You’ve worked tirelessly on your farm. Now, it’s time to reap the rewards… and pay as little tax as possible.
7 Year-End Tax Planning Tips for Small Business Owners
Last updated: Dec. 4, 2024
*UPDATED FOR 2024* The calendar year may be winding down, but there’s still time to create a strategy to lower your tax bill and boost your bottom line. 1. Long-Term Tax Strategy and Business Transition Plan If you haven’t already developed a long-term tax strategy or business transition plan, it’s … Read more
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?
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.
What is the TFSA Limit for 2025?
Last updated: Nov. 29, 2024
The Canada Revenue Agency (CRA) has announced the 2025 Tax Free Savings Account (TFSA) contribution limit is $7,000. Want to learn more about this investment option? Read on to learn the ins and outs of TFSAs – from finding your limit to accurately tracking your contributions. What is a TFSA? … Read more
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.