Category Archives: financial advice

Business Owners: 2020 Tax Planning Tips for the End of the Year

    It’s a great time to review your business finances now that we are nearing year-end. We have listed some of the critical areas to consider and provide you with some helpful guidelines to make sure that you cover all the essentials. We have divided our tax planning tips into four sections:

    – Year-end tax checklist
    – Remuneration
    – Business tax
    – Estate

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    Personal Tax Planning Tips – End of 2020 Tax Year

      To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:

      • Details about the different COVID-19 benefits programs and the tax ramifications of them

      • Information about family tax issues including the Canada Child Benefits and tips on how to split income.

      • Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.

      • Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.

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      10 Essential Decisions for Business Owners

        Business owners are busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We’ve put together a list of 10 essential decisions for every business owner to consider.

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