Consider leaving your RRIF/RRSP to a child or grandchild that is financially dependent on you in their RDSP
If you are a U.S. person potentially subject to this tax, but have not filed as such, contact us to discuss your options
Failing to make source deductions,
may expose directors personally to the liability
Deducting personal expenses in a corporation can lead to a very costly bill, as in Tax Court of Canada case, July 23, 2020
Claim amount increased to $23 from $17 per meal, for a total of $69/day
Taxability of unreported income all beyond the normal reassessment period- French Court of Quebec case, June 10, 2020.
U.S. Economic Impact payments and Canada Emergency Wage Subsidy program extension announcements
December 31, 2016 is fast approaching. See below for a list of tax planning considerations.
If you track income and expenses on a spreadsheet, you could be losing sight of how your business is performing and wasting a lot of time on data entry. There are low-cost alternatives that allow you to monitor business cashflow really simply.
Job sheets, whiteboards, clipboards, filing cabinets … these are the communication and information storage tools of old-fashioned, inefficient small businesses. For owners and managers of trades and services companies who are only familiar with these traditional ways of working, and systems that may have been used for decades, it can seem like a difficult task to move to modern, cloud-based job management software.