by mrtaxes | Oct 17, 2019 | Uncategorized
WHAT IS THE HOME BUYERS’ PLAN? The Home Buyers’ Plan is offered by the Canada Revenue Agency that allows individuals who are purchasing their home for the first time to withdraw $35,000 from their RRSP tax-free to help pay for the down payment on the home. For people...
by mrtaxes | Oct 1, 2019 | Uncategorized
WHAT IS LIFE INSURANCE? A life insurance policy provides a designated beneficiary with a lump-sum, tax-free sum of money when you have passed away. There are two different types of life insurance – term and permanent. Term life insurance provides the payout benefit if...
by mrtaxes | Sep 18, 2019 | Uncategorized
We don’t mean to be biased because we are accountants, but it’s the truth. If you have a car, you hire a mechanic. If you have teeth problems, you see a dentist. Likewise, business owners should hire an accountant to help with their bookkeeping and tax work....
by mrtaxes | Aug 2, 2019 | Uncategorized
WHAT IS A TAX-FREE SAVINGS ACCOUNT (TFSA)? Starting at the age of 18, all Canadians with a valid SIN number can open and contribute to a TFSA. Any amount added to the account and income gained is tax-free, but contributions are not income tax deductible (unlike...
by mrtaxes | Jul 29, 2019 | Uncategorized
You finally made up your mind. You’re going to enter a franchising agreement and own your own business. But that is a lot to take on, and you’re probably going to doubt yourself. Several times. But you can relax, as we have compiled the best advice to ensure that your...
