The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2002. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business purposes.
The limit on deductible leasing costs remains at $800 per […]
On January 1, 2017, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 1.4{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62}. The Canada Child Benefit and the goods and services tax credit will take effect July 1, 2017. For 2017 the federal tax bracket thresholds are:
15{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62} for taxable income […]
Five Ways You Can Minimize Bank Fees
Banking firms share the same goal of making money as their depositors. Unlike account holders, many institutions generate their profits through a lengthy list of fees. The following tips will explain the basis of these charges and how you can avoid them.
Record All Transactions
Overdraft charges are possibly the biggest […]
There are several areas that are included in estate planning. Here is a brief list of some of them:
You should have a will that includes your desires and tax considerations.
You should consider steps to minimize probate fees (or Estate Administration Tax) on your death, if applicable.
You should have enough insurance to meet […]
Boost Your Business Credit Rating
One of the problems with starting a business is that the owner may have decent credit ratings, but the business has none. Before your business can borrow money, you will need to establish credit in the company’s name, not your own.
One of the best ways to start your business credit history […]
In his fall 2016 report released Tuesday, Auditor General Michael Ferguson concludes the Canada Revenue Agency is failing to deal with income tax objections from hundreds of thousands of Canadians in a timely manner and that taxpayers are never told how long it will take to make a decision on their file.
7 Tips for Writing a Great Mission Statement
A mission statement is a brief summary of an organization’s core beliefs and key goals. In the contemporary era, all sorts of organizations – businesses, non-profits, schools and clubs – have developed mission statements. Many others plan to do so.
Writing a mission statement is not a simple task. […]
4 Ways to Win Customer Loyalty
It is said that eighty percent of a company’s profits come from twenty percent of its customers. With the competitive market and globalization, it is complicated to count on a few of your loyal customers to always be present. Now, it is more important to have clients who positively influence […]
Essential Tips to Manage Your Small Business Finances
Running a small business comes with its fair share of financial concerns and annoyances. Some of these challenges can be a curve on your business’ growth plans, but there are tools and supporting guides that can help manage them. By following proper practices, you can manage debts, […]
How to Increase Your Prices without Losing Customers
Raising prices is an essential part of business, but it is not always easy to do. Many people put it off, rightly fearing they might lose customers and revenue. What if that lost revenue cancels out the increase in the margin your business needs? The answer is to […]
