a woman looks at her mileage app while exiting her car

How to keep a CRA mileage log for vehicle expenses

If you’re self-employed and using your vehicle for business use, are you keeping a mileage log? If you’re audited by the Canada Revenue Agency (CRA), and you don’t have one, the CRA could reject your claims for motor vehicle expenses. Avoid CRA scrutiny with our tips and tricks on keeping a mileage log.

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Year-end tax planning for farmers

When you’re busy with the harvest, or preparing for the upcoming season, taxes are probably the last thing on your mind. But there are year-end tax planning strategies you can use now to help reduce your tax bill.

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How to use income splitting to reduce your tax bill

While there are attribution rules in place that prevent income splitting, there are exceptions to the rules you can use to make income splitting work to your advantage and grow your family wealth.

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Selling your small business: Share sale vs asset sale

If you’re selling your small business, is it better to do a share sale or an asset sale?

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Is a Group RSP right for your small business?

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 for your employees?

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7 simple ways to organize your receipts

Does the thought of organizing your receipts fill you with dread? We get it. It can seem overwhelming to keep track of your receipts on top of the busy demands of running your own business. But putting in the work now means you’ll save time when it comes to filing your taxes.

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Choosing the right business structure

Choosing the right structure for your business can have implications on taxation, liability, and succession planning.

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Can you get the Canada Child Benefit if you’re self-employed?

The Canada Child Benefit is a tax-free monthly payment for those with children under the age of 18.

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What Are the Canadian Tax Responsibilities when Closing a Business?

There are a lot of steps you need to take when closing your business. Not knowing what the tax obligations are could end up costing you a lot of money.

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“At least eighty percent of millionaires are self-made. That is, they started with nothing but ambition and energy, the same way most of us start.” — Brian Tracy