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tax planning

Small Business

How Can Accountants Help with Business Expansion?

Expanding your business is an exciting and ambitious endeavor that can open doors to new opportunities, markets, and revenue streams. However, it also presents a host of challenges that require careful planning and expert guidance. One of the most crucial partners in this journey is an accountant. Accountants do more Read more…

By Caitlin Lawrence, 9 monthsAugust 21, 2024 ago
home buying, taxes
Uncategorized

2024 Tax Strategies for First-Time Home Buyers

Buying your first home is a monumental step, often laden with complexities, especially when it comes to financial planning. For those eyeing their first home purchase in 2024, understanding the available tax strategies can make a significant difference. Here are key tactics to maximize your savings and make your home-buying Read more…

By Caitlin Lawrence, 1 yearApril 16, 2024 ago
Business Tax deduction

Making Sense of Capital Cost Allowance

Understanding the CCA’s Framework The CCA framework is designed to accommodate the practical reality that capital assets used in the business, such as machinery, vehicles, and equipment, depreciate over time. The Canada Revenue Agency (CRA) acknowledges this by allowing businesses to deduct this depreciation from their taxable income, thereby reducing Read more…

By Caitlin Lawrence, 1 yearFebruary 19, 2024 ago
Personal Tax

TFSAs and RRSPs Made Simple

Mastering TFSAs and RRSPs Before the Deadlines As we welcome the new year, it’s a crucial time for Canadians to focus on their financial well-being, with particular attention to Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs). The end of February marks a key deadline for TFSA contributions, Read more…

By Caitlin Lawrence, 1 yearJanuary 16, 2024 ago
Uncategorized

Essential Tax Planning Strategies for Small Businesses in Ontario

Navigating the complex world of taxation can be a daunting task for small business owners in Ontario. However, with a well-thought-out tax planning strategy, it’s possible to minimize tax liability and maximize profits. This blog post aims to shed light on some essential tax planning strategies that can serve as Read more…

By Tyler Schaeffer, 2 yearsOctober 9, 2023 ago
Small Business Month

A Closer Look at Minimum Wage and Overtime Rules in Ontario: A Guide for Small Businesses

Stay in the know: For small business owners in Ontario, staying updated on the minimum wage and overtime rules is crucial for maintaining a compliant and fair workplace. This blog post delves into the specifics of these regulations in Ontario, alongside a brief overview of the federal and other provincial Read more…

By Tyler Schaeffer, 2 yearsSeptember 27, 2023 ago
Recommendations

Tax Planning Strategies for High-Income Earners in Ontario

Hey there, Ontario friends!  If you’re making a good amount of money (go you!), you might be wondering how to keep more of it in your pocket and give less to taxes. Don’t worry; we’ve got some simple tips for you. Let’s dive in! 1. RRSPs: Your Best Friend  Ever Read more…

By Tyler Schaeffer, 2 yearsSeptember 25, 2023 ago
Uncategorized

3 TIPS to LOWER TAXES at year end by using your INVESTMENTS!

A common question asked by clients is “How do I LOWER my taxes at YEAR END?” Steve will break down 3 TIPS for lowering your taxes at year end by USING INVESTMENTS! These are HUGE YEAR-END TAX SAVING TIPS in CANADA that will Minimize YOUR Tax Bill, Maximize YOUR Tax Read more…

By Tyler Schaeffer, 3 yearsNovember 29, 2021 ago
Teaching Riley Videos Videos

Filing Your Taxes Late… What Happens?

We’ve talked about the benefits of filing your taxes early. Now let’s talk about filing taxes late and what happens in that situation… It’s not good! Filing taxes late results in major interest in penalties. The interest for filing late changes with the going interest rate. At the time of Read more…

By Riley Rose, 4 yearsMarch 31, 2021 ago
Teaching Riley Videos Videos

3 Awesome Benefits of Filing Your Taxes Early

Happy tax season! As you’re preparing your things to file your taxes (or maybe you haven’t started yet), we wanted to go over some awesome benefits of filing early! RRSP Benefits If you’re not sure how your RRSP can help with tax savings, check out our RRSP blog here. The Read more…

By Riley Rose, 4 yearsMarch 3, 2021 ago
Teaching Riley Videos Videos

What is an RRSP and How To Use It To Maximize Savings

As we near the cut-off for depositing to your RRSP for the 2020 tax season, let’s talk about what an RRSP actually is and how you can use it to maximize your savings. What is an RRSP? An RRSP something many people overcomplicate, but really it’s just a bank account Read more…

By Riley Rose, 4 years ago
Teaching Riley Videos Videos

Canada Pension Plan: Tax Planning and 2021 Changes

The Canada Pension Plan is obviously important to take into consideration when planning for retirement. However, as a business owner, it is even more important because, depending on how you pay yourself from your business, you may or may not pay into it. As an employee, you pay half of Read more…

By Riley Rose, 4 yearsDecember 18, 2020 ago
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