What’s a TSFA account?

A TSFA account (Tax-free Savings Account) is a government-sponsored investment account that was introduced in 2009 as a way to encourage Canadians to save for their retirements. For many people, a TSFA is a simple, little bank account where you can store away some money and not pay any taxes on it. You collect the [...]

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

Top Considerations for Small Business Financial Planning

Small business owners have many things to consider when running a successful company. They have to deal with overhead, staffing, marketing, and the general day-to-day operations. There are a lot of tasks and they end up wearing many different hats to succeed. Financial planning isn’t something they should try to do by themselves. With so [...]

By |July 27th, 2018|Uncategorized|0 Comments

Tips on tracking business expenses

Even though tax season is a distant memory, business owners all over the Lower Mainland should be saying the same thing: “I need to start tracking my business expenses better than last year.” If you’ve ever lost a business receipt, or spent far too much time trying to track down your credit card charges, here [...]

By |July 16th, 2018|Uncategorized|0 Comments

What’s new for the 2018 tax season?

Every year there are changes to the Canadian Tax Code and taxpayers struggle to figure out how these changes will affect their returns. At Naicker & Associates, we offer tax preparation services in order to take some of that guesswork away from our clients and we like everyone to know exactly what’s coming from the [...]

By |June 27th, 2018|Uncategorized|0 Comments

What you should know about rental property tax deductions in BC

If you are renting property in British Columbia, whether that is a separate property or one or more rooms in your home, there are many expenses that can be deducted when doing your personal tax planning and calculating your rental income. Some of the basic expenses you can claim are: •    Mortgage interest •    Property [...]

By |May 25th, 2018|Uncategorized|0 Comments

Primary Types of Financial Planning

Financial planning is a critical service offered by accountants for both business and personal clients. Making an effective financial plan can help set goals and get the client ready for the future. Here are the three primary types of financial planning: Short-term This is the financial plan that sets out the goals and strategies for [...]

By |March 26th, 2018|Uncategorized|0 Comments

Gearing up your small business for 2017 tax season

The new tax year has arrived, which means that it’s time to get ready to produce everything necessary for the 2017 tax season. For small business owners, this can be an incredibly stressful time of year. With April looking in the future, here are a few ways your small business can gear up for the [...]

By |February 26th, 2018|Uncategorized|0 Comments

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