The Canada Child Benefit was brought in by the Liberal government in 2016. It’s a replacement for the suite of Conservative childcare benefits, which the Liberal government felt benefited wealthier families unduly, due in part to their focus on income…
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Tax-Free Savings Accounts, or TFSAs, are a fairly recent addition to the Canadian tax ecosystem. First made available to Canadians in 2008, the TFSA is a way for the average citizen to protect a portion of their savings from income…
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If you’ve been paying attention to financial and political news over the past few months, you’ve no doubt heard a lot of talk about the proposed tax changes in Canada. There are a lot of opinions (mainly negative) surrounding these…
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Small businesses often operate with tight margins as they grow and hire more staff. Every dollar that you aren’t spending on tax allows you to grow your business a little more. In the end, fostering small business growth is a…
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Running a home daycare is a common business. When it comes time to complete your taxes, there are certain guidelines and rules that should be followed in terms of reporting the income from your daycare. The first distinction you must…
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How much will I have to spend on my business taxes at tax time? This is a question most people ask when they start a business. Most of the time, when a person starts a business, they will start the…
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At the end of the year, regardless of how involved you are in the accounting aspect of your business, how much the accounting fees for your business’s year-end cost is something every business owner is aware of. Many business owners…
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This is a question faced by many owners of a corporation which is carrying on an active business. First off, let’s address the basic concepts. A holding company is a legal corporation which owns the shares of the business corporation…
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One of the most common types of corporations is a business operated by one person (the owner of the corporation). This is common for tradespersons operating their own corporation, consultants of various fields such as oil-field consulting or I.T. consulting,…
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If you have grown your business to the point where you would like to incorporate it or if you would like to create a new corporation for tax planning purposes, the actual mechanical process of incorporating a business is not…
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