Income splitting through an incorporated business

Tax brackets are one of the simplest things to understand when figuring out your tax bill. Very simply, tax is accessed based on your income, and the highest your salary, the more tax you pay. So let’s say that a husband and wife are making $200,000 per year, collectively. If one person is making $150,000 [...]

By |February 15th, 2018|Uncategorized|0 Comments

Advantages a CPA can make for tax planning

There are many advantages a chartered professional accountant can bring to businesses, large and small, and the average person. One area where they provide a lot of assistance is in the world of tax planning. By hiring an accounting firm with staff members that have over 20 years experience, like the staff at Naicker & [...]

By |January 30th, 2018|Uncategorized|0 Comments

How an Accountant Can Help Your Small Business

Many small business owners believe that they can handle all their accounting themselves. All they need to do is buy some accounting software, enter in the numbers, and everything’s in the black. But hiring a chartered professional accountant, like one at Naicker & Associates, can really help you navigate the complicated financial waters of owning [...]

By |January 11th, 2018|Uncategorized|0 Comments

Tax Services and More for Not-For-Profits and Charities

Accounting is easy for a not-for-profit organization, right? Most people think that charities and not-for-profit organizations have it easy, simply because they don’t have to pay any taxes. Because they don’t have to pay any taxes, their accounting needs should be simple, too. Some of these organizations and charities believe this as well, choosing to [...]

By |December 23rd, 2017|Uncategorized|0 Comments

Business & Personal Accounting Tips at Christmas

Christmas might just be the second most important time of year from a financial perspective. People are spending more, businesses are hiring more staff, parties and presents are everywhere, and a smart person is checking with his or her accountant to make sure they’re prepared for the season. Here are a few accounting tips for [...]

By |December 13th, 2017|Uncategorized|0 Comments

What to expect from a business audit

You’ve just gotten the phone call that everyone dreads—a tax auditor from the Canadian Revenue Agency has just called and asked you to schedule an audit. He or she wants to go through, usually, two or three taxation years and you’ve got to provide this person with all your records. It’s a scary procedure that [...]

By |August 8th, 2017|Uncategorized|0 Comments

Incorporating Trusts in Estate Planning

You’re preparing for your retirement and wondering how to protect everything you’ve worked so hard to achieve. You don’t want creditors to come around and take your estate—you want to make sure the property, money, and investments go to your family. One way of doing this is to establish a trust. What is a trust? [...]

By |July 20th, 2017|Uncategorized|0 Comments

What’s new in Business Taxes in 2017?

With every new budget, the federal government changes something to the tax code. Whether it is raising or lowering the rates, changing the way payroll deductions are charged, or adding or removing tax credits, taxpayers must pay attention to what’s different each and every year. And those changes are why we keep seeing tax accountants [...]

By |April 6th, 2017|Uncategorized|0 Comments