An RRSP is a great way to save for retirement and cut your tax bill, but there are other ways you can use your RRSP to achieve your goals. For most people, an RRSP is a way to save for retirement and pay less income tax. Although RRSPs remain a great tool for retirement planning, … Continue reading 6 things you may not know you can do with your RRSP
It’s easy for Canadian small business owners to get caught up in payroll complexity. According to a recent government report, approximately 90,000 small businesses shut down every year in Canada — as a result, effectively managing payroll is critical to ensure long-term business success. We’ve put together a guide the tells you all you need to … Continue reading Calculating Payroll Tax in Canada: A guide for small businesses
Are you among the more than 1.5 million Canadians working as an unincorporated business? These expert tips will help you navigate this tax season and beyond. If you’re earning income outside of what you do as an employee, you’re considered to be your own business in the eyes of Canada Revenue Agency (CRA). And no … Continue reading 4 tax tips for your unincorporated business
When Finance Minister Bill Morneau introduced a motion earlier this month to keep the Liberals’ election pledge to cut income taxes for the middle class, he called the measure “significant” and said it would impact 20 million Canadians. But most Canadians would have to study their pay stubs very closely after Jan. 1 to detect that tax cut and other changes … Continue reading Are 2020’s tax changes ‘significant’ or ‘a wash’?