Corporate Tax Filing and Balance due Deadlines:

If you have a September 30 corporate year end your return is due by Midnight March 31 (This Tuesday). Don’t panic as we can help file on time. This strategy will allow you to participate in the August 31 deadline to pay balances without penalty. The CRA has not...

THE BENEFITS OF BEING SELF-EMPLOYED

Although there are many risks to being self-employed, it also comes with many benefits. We’re sure that you have already considered the risks – unstable income, lack of benefits, etc., but we want to reveal the extensive benefits that are available to help you...

HOW TO SAVE TAXES USING THE HOME BUYERS’ PLAN (HBP)

WHAT IS THE HOME BUYERS’ PLAN? The Home Buyers’ Plan is offered by the Canada Revenue Agency that allows individuals who are purchasing their home for the first time to withdraw $35,000 from their RRSP tax-free to help pay for the down payment on the home. For people...

EVERYTHING YOU NEED TO KNOW ABOUT LIFE INSURANCE

WHAT IS LIFE INSURANCE? A life insurance policy provides a designated beneficiary with a lump-sum, tax-free sum of money when you have passed away. There are two different types of life insurance – term and permanent. Term life insurance provides the payout benefit if...

YOUR GUIDE TO TAX-FREE SAVINGS ACCOUNTS

WHAT IS A TAX-FREE SAVINGS ACCOUNT (TFSA)? Starting at the age of 18, all Canadians with a valid SIN number can open and contribute to a TFSA. Any amount added to the account and income gained is tax-free, but contributions are not income tax deductible (unlike...

HOW DO YOU RUN A SUCCESSFUL FRANCHISE?

You finally made up your mind. You’re going to enter a franchising agreement and own your own business. But that is a lot to take on, and you’re probably going to doubt yourself. Several times. But you can relax, as we have compiled the best advice to ensure that your...

WHY IS FINANCIAL PLANNING CRITICAL. REALLY?

WHAT IS FINANCIAL PLANNING? Financial planning involves looking at your current and projected future income in combination with your current and future financial goals to develop a strategy to effectively allocate your cash flows. This plan incorporates your financial...

FIVE OF OUR FAVOURITE WAYS TO INCREASE YOUR SAVINGS

We all want to increase our wealth, yet somehow giving up lattes and eating out never seems to last more than a month. Eventually we realize that the saving tips provided by endless books and websites are simply ineffective and we revert to our old ways of spending....