6 Essential Accounting Terms

6 Essential Accounting Terms

Hiring an accountant is widely considered best practice for small business owners. However, delegating financial analysis & reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that...
Disability Tax Credit

Disability Tax Credit

Often, we or someone we care about may have been born with or develop an impairment. This impairment can be physical or mental, resulting in the person requiring extra care. With extra care, comes an extra financial burden. As a result, there is a need for financial...
Are There Inheritance & Estate Taxes in Canada?

Are There Inheritance & Estate Taxes in Canada?

Clients regularly ask, are there Inheritance & Estate taxes in Canada? The good news is there is no inheritance tax in Canada on money or property you inherit. As a result, you do not report receiving it on your personal tax return. Why may you ask? It is the...
Cryptocurrency

Cryptocurrency

This taxation year was the first time we saw a lot of cryptocurrency (crypto) transactions, so we thought it might be interesting to share some tax information about it. So, What is Crypto? Crypto is a digital currency designed to be used over the internet. The...
Registered Education Savings Plan (RESP)

Registered Education Savings Plan (RESP)

Are you starting a family & thinking about saving for your children’s future education? Maybe you’re a grandparent, aunt, uncle, or friend looking for a special gift. What better gift than helping with education? A Registered Education Savings Plan (RESP) might be...
RRSP Over-contribution

RRSP Over-contribution

A Registered Retirement Savings Plan (RRSP) is a great way to save for retirement. It offers flexible investing with tax-free investment growth in the plan. Withdrawal(s) usually happens during retirement when you are in a lower tax bracket resulting in lower tax...