It doesn't matter what size business you have, there'll be books to keep. Do you know if you need a bookkeeper or an accountant? Many people don't know the difference. Because the terms have no legislative meaning in Canada, anyone can call themselves ...
Your small business has been growing (or you are just starting) and you could be wondering when you should make the leap... and incorporate it.There are pros and cons to doing this and if you do it too early, it may not be worth it. Now, if your business ...
Do you avoid sending in your taxes? Or, did you somehow, just forget? Here are some good reasons to submit them, even if you're a bit behind.It's not the end of the world that you missed a deadline (or a few!) The Canada Revenue Agency (CRA) is really ...
Find out how to ensure your RRSP goes to your loved ones.
Monday, January 03, 2022
Do you know what happens to an RRSP when someone dies? You would assume that your investments like RRSPs would go to your spouse after your death. However, you need to ensure this is the case when it comes to the laws in your province.RRSPs that are still ...
Are you curious what the Federal Budget looks like? Download this informative pdf to learn what benefits or claims will affect you. It outlines how to handle COVID-19 benefits and deductions, as well as changes to the tax claims for 2021. Some of ...
How would you like a little bit extra money in your retirement fund? If you're able to defer your CPP and OAS benefits until age 70, your payments will increase? The standard rule of thumb would be to start receiving CPP as soon as you are eligible, at ...
Some benefits individuals and businesses may qualify for, to help get through the Covid-19 pandemic. CANADA EMERGENCY BUSINESS ACCOUNT (CEBA) If you own a business, look into whether you can apply for CEBA. It is an interest-free loan available to ...
When preparing your taxes for next year, give this some thought. Every year, the amount of tax owed is calculated in the normal way. However, there is an Alternative Minimum Tax (or AMT) designed to make sure that high income earners do not pay little-to-no ...
Starting early can help children understand the value of money.
Tuesday, August 11, 2020
Teach your kids how to handle their money If you're a parent, you'll want your children to live happy and healthy lives. Being financially independent is an important aspect of that. Teach them good habits when they're young, ...
