Every business owner should be concerned about creditor proofing his assets. Consider these suggestions:
1. Transfer assets out of the company
Place capital assets in a separate holding corporation so that subsequent legal claims that arise in the operating company do not affect these assets.
Lease the assets in the holding corporation back to the operating […]
As a business owner, you wouldn’t survive long without the protection afforded by business insurance. It insulates you from a wide range of financial losses, such as a customer suing you, employee theft, and widespread damage to your business structure caused by severe weather. These situations are unpredictable and out of your control. However, that […]
Running a business can be tough. You will experience growing pains as you start and expand the business. You will become impatient with the slow progress as the business progresses. There will be days where developing your small business may be far from the dream you expected it to be.
The unpredictability of business also means […]
Unless your last name is Bezos, Buffett, or Gates, you likely won’t have the answers about how to run a successful business, and you’ll have to figure things out the hard way. Fortunately, those who have already been down that road can offer some pieces of advice aimed at steering you clear of some all-too-common […]
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as a van, bus, pickup truck, station wagon, SUV, or other truck). Many individuals use their automobile for work or business and incur personal expenses in doing so. It is important to note that only expenses of […]
Management of your personal finances can be challenging. However, it is a necessary skill for those whose goal is to live debt-free and acquire wealth. There are specific and necessary steps to follow if financial independence is your goal.
Get Organized
If you are disorganized in your everyday life, you are apt to have difficulty following a […]
If you think that paying for your employee’s disability premiums is always a good thing, think again. If you provide your employees disability as a nontaxable fringe benefit, payments they receive upon their disability will be, in most cases, FULLY taxable to them!
Payments received due to disability are not taxable if:
Your employees paid the […]
One of the most disruptive things to happen in your life is a financial hardship. These can come in many different forms, like losing your job, poor investments, natural catastrophes and illness. It is important, if you should find yourself in any of these situations, to remain invested in identifying your next steps and making […]
CPP/QPP-2018
Year’s Maximum Pensionable Earnings
Year’s Basic Exemption (by pay period type):
* Annual
* Monthly (12)
* Semi-Monthly (24)
* Bi-Weekly (26)
* Weekly (52)
Maximum Contributory Earnings
Contribution Rate – Employee/Employer
Contribution Rate – Self-Employed
Maximum Contribution – Employee/Employer
Maximum Contribution – Self-Employed
$55,900.00
$3,500.00
$291.66
$145.83
$134.61
$67.30
$52,400.00
4.95{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62}
9.9{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62}
$2,593.80
$5,187.60
TD1-PERSONAL TAX CREDIT RETURN (FEDERAL)-2018
Basic Personal Amount
Eligible Dependent or Spouse or Common-Law Partner Amount
Pension Income Amount
Age 65 Amount
Disability Amount
Canada Caregiver Amount
Family Caregiver Amount for children under […]
Are you ready for change? NOW is the time to prepare for tax reform, as every taxpayer will be affected by the new legislation beginning in 2018. Will you see an increase or decrease in your taxes? Will your tax return become simplified or more complicated?The ceiling on the capital cost of passenger vehicles for capital cost […]
