If you have just finished school, and are just starting out your professional life, you might be wondering what tax strategies and credits you should take advantage of. Learn about some of the basic things you should consider.
Prime Minister Trudeau promised that taxes will be going up for the rich and going down for the middle class in Canada at the start of 2016. Read further to learn about the top 3 tax savings strategies that you can take advantage of by the end of the year.
Did you miss our webinar for our top tax saving strategies? We have recorded the session and you can still catch it here! In this Webinar we review our top tax saving strategies that you should take advantage of before the end of 2015.
Do you buy and sell stocks, bonds or mutual funds? Have you ever been in a situation where you have gained and your spouse has losses? There is a way that you can use your spouse’s losses to offsets your gains and save on tax by transferring capital losses to a spouse. We may have … Continue reading Transferring Capital Losses to a Spouse
If section 85 didn’t exist what would happen? Without the rollover, a sole proprietor would sell their assets to a corporation for current market value instead of initial purchase price. This would result in the proprietor paying taxes on the assets difference in value. The sole proprietor is only trying to transferhis or her own … Continue reading How to defer capital gains tax with section 85 rollover
TAXATION There are many tax advantages for self-employed Canadians who work from home and hire family members in their business. The December holiday season is a time for home and family. This year, if you are self-employed, you may want to consider incorporating home and family into your business to create tax benefits for both … Continue reading Tax Benefits for the Self-Employed
Do you own stocks, bonds, mutual funds, or other marketable securities? Are you looking to get a tax advantage from selling money losing investments? Tax-loss selling may just be the tax strategy that is right for you!
INTRODUCTION This article provides an in-depth review of PREPARING THE FINAL RETURN OF A DECEASED PERSON in Canada, including taxation of: Dividends & interest Employment income Old Age Security Canada or Quebec Pension Benefits Pension Income Splitting Employment Insurance Investment Income Rental Income Death Benefit RPP, RRSP, RRIF Tax Deductions When an individual passes away, … Continue reading How to Prepare Final Return of A Deceased Person in Canada
Corporate class funds can be a very tax-efficient investment vehicle, particularly in Canada. Investing in these funds and holding them inside of a corporation can protect and defer you from significant tax implications.
There are various deductions that are available for an individual who is preparing a tax return. Today, we will talk about moving expense, who are eligible for it, and the amounts that should be claimed for these deductions when you file your tax return. Conditions on eligibility Primarily, you must be a deemed or factual … Continue reading Moving Expense Tax Deductions
If you live in a major metropolitan area, you have probably heard the term ‘uber’ slowly drifting into everyday conversation. Instead of people saying “let’s grab a taxi”, people are saying “let’s grab an uber” instead. If you have never heard of uber, it is essentially a ride sharing program that is operated from the … Continue reading How Are Uber Drivers Taxed in Canada