There are several areas that are included in estate planning…
Tag: small business
2009 Indexation Adjustments
Every year, the Canada Revenue Agency adjusts personal income tax amounts to reflect changes in inflation…
A Note on Outstanding CPP, EI, and QPIP Contributions
What happens if you discover that you have not deducted enough CPP, EI or QPIP from an employees pay-cheque? Often time this error is uncovered when the CRA sends you a Notice of Assessment or you may uncover the error… {Read more}
Directors of a Corporation
The CRA requires that you let them know when the directors of your corporation change…
Contribute to Your RRSP
The most popular tax tool available to taxpayers is…
Eligible Deductions & Credits
If you pay the following expenses by December 31, 2008 they will be eligible…
Use Capital Losses
You can use your 2008 capital losses to reduce your current year’s income taxes…
Other Tax Planning Issues
Consider a Registered Education Savings Plan (RESP) for your children. Review your December income tax installment. Repay outstanding shareholder loans and pay interest on employee loans. Contribute to your spouse’s or common-law partner’s RRSP to the extent of your RRSP… {Read more}
$750,000 Capital Gains Deduction
You can make use of the lifetime $750,000 capital gains deduction…
Scientific Research & Experimental Development Tax Credit
Check out a recent news release on the CRA…