Small businesses get a break
Thursday, December 8th, 2011
Hiring credit for small businesses In an effort to encourage new employment and support small businesses, the 2011 Federal budget has formed a one-time hiring credit for small businesses (HCSB). The HCSB is intended to provide businesses with some relief on the employer’s share of employment insurance (EI) premiums paid in 2011. If eligible, employers [...]
Wooing your banker
Wednesday, December 7th, 2011
Raising Money from Your Bank Occasionally we have clients that express frustration in trying to raise money for their small or mid-sized business. We love to bash our banks here in Canada. Sure we pay lots of fees etc. but our system, for a host of reasons, seems to be a relatively bright spot in [...]
The tax benefits of establishing a Professional Corporation
Wednesday, October 12th, 2011
The Canadian tax system favours corporations with beneficial tax treatment. Up until the past decade most professionals were not able to take advantage of incorporating their business income due to provincial licensing and regulatory restrictions within their own professional bodies. This has since changed and allows professionals to build equity at 15.5% corporate tax rate [...]
We recommend you consider setting up a family trust!
Friday, June 24th, 2011
Kalin L. McDonald, CA, CFP, TEP A client contacted me last week to ask for my assistance planning his distribution of funds out of his family trust this year to maximize the tax efficiency of paying these funds out to his family. Several years ago we took my client’s interest in a successful manufacturing company [...]
In accountants we trust….
Friday, June 10th, 2011
We were called in last week to meet with a new potential client who realized that his internal accountant of many years had committed fraud. We were called in to help the client’s filing of fraud charges with the police, and to review the handling of the issues by the client’s bank. The internal accountant [...]
