Fiscal Year in Canada: How to Choose the Right Year-End for Your Business
One of the first decisions a newly incorporated business makes in Canada is one that most owners do not spend nearly enough time on. Your fiscal year end date affects your corporate tax deadlines, your cash flow planning, your GST/HST reporting schedule, and your...
PREC: The Tax Advantage Every Canadian Real Estate Agent Should Know About
If you are a real estate agent in Canada earning strong commission income and still operating as a sole proprietor, there is a good chance you are paying significantly more tax than you need to. A Personal Real Estate Corporation, commonly known as a PREC, is a...
Canada Workers Benefit: Are You Leaving Money on the Table?
Every year, thousands of eligible Canadians miss out on the Canada Workers Benefit simply because they do not know it exists or assume they do not qualify. The Canada Workers Benefit is a refundable tax credit offered by the federal government to help people earning a...