(Please Note: This blog has been written for Canadian Citizens and Permanent Residents of Canada.) What You Need to Know If you own a residential property in Canada, you may be subject to the Underused Housing Tax (UHT). This annual 1% tax applies to the ownership of vacant or underused housing and came into effect […]
If you have been running a business for a while now, you may have considered incorporating it. However, this process involves rolling your sole-proprietorship or partnership into the newly formed corporation. Before you take this step, there are several things you need to consider. One important consideration is the tax implications of this process. […]
Are you ready to say goodbye to debt and hello to financial freedom? If you’re feeling overwhelmed by debt and unsure of how to get out of it, don’t worry – you’re not alone. But fear not, because with a solid plan and some determination, you too can become debt-free and regain financial stability. The […]
Are you in need of an accountant but don’t know where to start? Don’t worry, you’re not alone. The question of “when do I need an accountant and how much should I expect to pay?” is a common one with many variables to consider. Types of Tax Preparation First things first, let’s address the question […]
Ways My Small Business Corporation Can Pay Me People often ask me, “what is the best way for my corporation to pay me?” It’s a great question! You do the work, and some of the money should end up in your pocket. How can your company pay you? Draw on your shareholder account Pay yourself […]