This Corona Virus pandemic has devastated the world economy and has caused enormous hardship on many fronts — for individuals and businesses. Throughout the pandemic, many governments around the world are providing support to their citizens and businesses to weather the storm caused by this virus. The Government of Canada is playing it’s role and…
(905) 919-3543
5 Reasons Why Most People Don’t Use Insurance As A Tool For Wealth Planning
“You don’t buy life insurance because you are going to die, but because those you love are going to live.” — Unknown author Of the four tax-free options that the Canadian tax law permits, the use of tax-exempt life insurance is one of the least known tax strategies. You’re likely familiar with the other three…
CRA Challenges A Photographer’s Source Of Income
In a February 19, 2020 Tax Court of Canada case (Hurwitz vs. H.M.Q., 2018-406(IT)I), at issue was whether the taxpayer (H) had a source of income in respect of his abstract photography endeavor. For the two years in question (2013 and 2014), H earned gross income of $5,000 and $10,000 but had net losses of…
Hand In Hand – How To Multiply Your Impact And Tax Savings With The Creative Use Of Life Insurance
As we approach the season of generosity, it is common for most people to dip more into their pockets to support their favorite charities this coming Holiday season. Some will be playing catch up on their annual charitable donations while others will be looking to go far above their usual annual donations. As is typical,…
What you need to do to stay ahead now that tax season is over
For most Canadians and particularly for accountants and tax practitioners, the end of tax season comes with a lot of relief…relief from all the long hours of compiling financial information and filing of tax returns. However, in the midst of the relief, we often forget to take time to consider important planning tips to save…
Self-Employment: Is It For You?
Quite often, we run into a lot of people who want to become self-employed for a number of reasons ranging from just being tired of working for someone else, job loss from downsizing or those simply sick of office politics. Whatever your reason, the big question is: Should you? Is Self-Employment for you? I recently…
PERSONAL TAXES: ARE YOU READY?
First, we want to thank you for entrusting our team with the completion of your personal tax returns and we look forward to assisting you again this year. For those that have not filed their taxes yet, be reminded that the tax filing deadline is April 30, 2018. As you file your taxes this season,…
Our Top Five Challenges In Running Our Business – Part 5 of 5
This month, we conclude our series on the top five business challenges in running our business. If you’ve missed any of the previous articles, you can click on any of the three previous challenges below to read the details: Cash flow issues/Undercapitalization of your business No investment in a proven pipeline for new business Shallow…
MERRY CHRISTMAS AND HAPPY HOLIDAYS!
A special thank you to all our clients, prospective clients and newsletter subscribers for hanging in with us throughout 2017. It has been a year of growth for us and we’re certain it has been the same for many of you. We hope that you will find some time during the Holidays to reflect on…
Our Top Five Challenges In Running Our Business – Part 4 of 5
This month, we will look at the forth challenge we faced in our business. If you’ve missed any of the previous articles, you can click on any of the three previous challenges below to read the details: Cash flow issues/Undercapitalization of your business No investment in a proven pipeline for new business Shallow dialogue with…
