I am a little late in posting the key dates this year, but better late than never, the following are several key dates in 2015 for both individuals and corporations. These dates are important, because if these deadlines are missed you may be subject to costly fines and penalties. Important Dates: January ...
Read MoreAs we head into to the upcoming “Tax Season” it is important to remember several key dates in 2014 for both individuals and corporations. These dates are important, because if these deadlines are missed you may be subject to costly fines and penalties. Important Dates: January 15 – Remittance date for fourth ...
Read MoreStarting in 2014 the Canada Revenue Agency (CRA) has changed the way that non-eligible dividends are taxed. This change will effectively increase the tax rate for non-eligible dividends. This will cause business owners to re-evaluate the way in which they draw income from their business (dividends vs. Salary). Let’s look ...
Read MoreAs we head into to the upcoming “Tax Season” it is important to remember several key dates in 2013 for both individuals and corporations. These dates are important, because if these deadlines are missed you may be subject to costly fines and penalties. Important Dates: January 15 – Remittance date for fourth ...
Read MoreOne of the best tax saving opportunities for family owned and operated businesses over the years has been income splitting. This is the practice of splitting income amongst family members to use up all of each family member basic personal tax credit and low tax rates at the lower income ...
Read MoreOne of the biggest considerations for small businesses is whether to incorporate or to operate as a proprietorship. What’s the difference? The main difference between corporations and proprietorships is that corporations become their own legal entity while proprietorships are operated under the name of the proprietor. From a tax perspective a corporation ...
Read MoreStarting a new business can be an overwhelming process; there are so many considerations which makes it easy to overlook something. Not only is it important to not overlook anything, it is important to do things in the correct order. In my time assisting clients go through this process I ...
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