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 […]
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 many […]
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 are […]
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 taxes
• Utility costs
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:
This is the financial plan that sets out the goals and strategies for the next […]
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 […]
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 and […]
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 […]