Insights & Updates Blog

Uncover strategies to navigate financial challenges in Ontario's evolving economy with expert advice.

Explore personalized tax planning tips for Ontario residents, ensuring you make informed decisions this tax season

Get ready for tax season with our comprehensive checklist. A practical resource to help individuals and businesses stay organized.

Understand how to integrate charitable giving into estate plans. Discover the benefits of fulfilling philanthropic goals and optimizing tax liabilities.

Explore the tax considerations of remote work in Canada. Learn about potential deductions, compliance issues, and optimizing tax outcomes.

Plan for success in 2025 with our year-end financial review guide. Identify areas for improvement and strategize for the future.

Uncover retirement planning essentials tailored for business owners. Explore IRA options and strategies to secure your financial future.

If you happen to reside in the northern regions of Canada, we have some great news for you! The travel deductions available for northern residents have been expanded, allowing more individuals to claim their expenses for trips to and from these areas on their 2021 tax returns. Curious to know more about these updated deductions? [...]

Understanding your financial needs and sufficiency is crucial when it comes to financial planning. One key aspect of this is getting an accurate estimate of how much income tax, marginal tax, you might owe each year, as this will help you better understand how much of your income you can save, spend, and invest. If [...]

Did you know that while capital gains are taxable, capital losses can be deducted? And with certain conditions, you can even carry those losses forward to offset taxes on future capital gains. Let's break down what qualifies as a capital loss and explore how you can take advantage of it, step by step. Bookkeeping in [...]

Selling a business can be a complex topic, and it can be difficult for a layman to understand and comprehend. Let me simplify it for you: selling your business may be one of the most challenging decisions you will ever make. The emotional attachment and all the hard work you have put into your business [...]

If you own a property in Canada that generates income, such as a rental property, your mortgage interest tax may be deductible in certain situations. This applies not only to rental properties but also to primary residences, places of business, or even homes where you work from. That said, there are several ways for Canadians [...]

Are you looking for ways to save on your taxes? One simple way to do this is by claiming deductions for automobile expense that are used to help earn income for automobile as a business expense. Regardless of whether you're an employee, a business owner, in a partnership, or self-employed, there are ways to take [...]

If you're considering a move abroad, leaving Canada permanently, it's important to keep in mind that the process can be complex and require extensive planning, especially when it comes to the tax implications. Whether you're relocating for work, returning to your home country, or seeking a change of scenery, various factors will impact your taxation, [...]

Real estate taxes and property taxes are similar, with one being a subcategory of the other. The difference lies in the fact that real estate taxes only apply to land attached to houses, while property taxes are more expansive and cover a wide range of properties, including livestock, vehicles, and farmlands. The term "property" is [...]

There are distinct differences between independent contractors and employees, with the former having different legal entitlements. Employees have an exclusive working relationship with their employer and are governed under the Employment Act, whereas an independent contractor are not subject to the same statute and have different employment law protections. In Canada, companies may opt for [...]

Buying a new home in Canada can be an expensive process, with additional costs like GST/HST new housing rebates. However, the Canada Revenue Agency offers relief with the GST/HST New Housing Rebates. By filling out a single form, you can save thousands of dollars in taxes when buying a newly constructed home. Payroll Management in [...]

Over the past couple of years, Canadian businesses have faced significant challenges in maintaining their operations due to the COVID-19 pandemic, which led to intermittent lockdowns throughout the country benefit programs have ended. To support these businesses, various benefit and relief programs were implemented during this period to ensure their survival. Fortunately, as the pandemic [...]

Get ready for some good news! The federal government's new tax is diligently working on implementing substantial tax cuts that will soon have a positive impact on Canadians' first pay stubs of the new year. These upcoming changes aim to provide individuals and families with increased financial relief and improved economic prospects. Stay tuned for [...]

In the realm of business efficiency, one crucial metric that demands close attention from both business owners and external stakeholders is the gross profit or gross margin percentage for Cost of Goods Sold (COGS). This metric reflects the effectiveness of a company's products or services and plays a significant role in evaluating its overall performance. [...]