By Liz O'Dowd on October 18, 2016 
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Borrow to Invest in Stocks and Exchange Traded Funds (ETFs) – Outside of an RRSP You should not consider this strategy unless you have owned stocks for at least 2 years. Taxtips.ca recommends this because investing is a learning experience,… {Read more}
By Liz O'Dowd on October 17, 2016 Leave a comment
Salaries paid to a family member. When deciding as to whether a salary should be paid to a family member, or more specifically to ones spouse, numerous questions arise. On one side, there is the question of the risk involved… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
Tax-Free Savings Account (TFSA) vs Registered Retirement Savings Plan (RRSP) calculator TaxTips.ca’s Tax-Free Savings Account (TFSA) vs Registered Retirement Savings Plan (RRSP) calculator will help you decide which type of account is better for you. This will depend on your… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
What are your federal tax obligations when buying and selling property in Canada? The Canadian real estate market is active, particularly in some major Canadian cities like Vancouver and Toronto. Questions have been raised about what federal tax obligations the… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
First time home buyer tax credit If you are a first time home buyer, you may be able to claim a non-refundable tax credit of up to $750 on the purchase of a qualifying home. To qualify for the home… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
Is DIY Bookkeeping Causing Your Small Business Problems? Throughout the course of running your small business, you’re going to encounter some problems, both big and small. When you consider that approximately eight out of 10 businesses fail within their first… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
Does your business have tax debt with the Canada Revenue Agency? Don’t panic. You have options. Ignoring your tax debt isn’t the best strategy. Avoiding payment could result in financial and legal consequences for you and your business. The CRA… {Read more}
By Liz O'Dowd on October 12, 2016 Leave a comment
The new tax credit for teachers will help offset personal costs The Honourable Diane Lebouthillier, P.C., M.P., Minister of National Revenue, and the Honourable Kirsty Duncan, P.C., M.P., Minister of Science, marked the beginning of the back to school season… {Read more}
By Liz O'Dowd on October 5, 2016 Leave a comment
What is your hiring strategy? Most business owners know that hiring the right talent is one of the best ways to ensure the company’s success. However, small business hiring budgets tend to be limited, making it necessary for the company to concentrate… {Read more}
By Liz O'Dowd on October 5, 2016 Leave a comment
Pay Down Your Mortgage, or Contribute to an RRSP? Which option is better for a person with a 30% marginal tax rate: Pay $1,187 per month in mortgage payments to pay off a $100,000 mortgage in 10 years, then continue… {Read more}