Tax season is here, and if you’re 65 or older, we have some tips to help you get all the benefits, credits, and deductions you're entitled to. Whether you're still working, living on a pension, or supporting loved ones, filing your taxes accurately and on time can help you keep more money in your pocket.
Tax planning is a crucial aspect of running a successful small business in Canada. By employing strategic tax planning techniques, small business owners can optimize their tax liabilities, reduce financial burdens, and ultimately improve their bottom line.
If you have a home-based business or work from your home, you should consider getting business insurance. Business insurance can protect you against loss or damage to physical property or the loss of your business's ability to operate and generate income. Home or tenant insurance will generally not pay for claims related to a home-based business.
The Lifelong Learning Plan (LLP) is a Canadian government program that allows individuals to withdraw funds from their Registered Retirement Savings Plan (RRSPs) to finance full-time education or training for themselves or their spouse or common-law partner. This initiative supports lifelong learning and skill enhancement, making education more accessible for Canadian residents.
The Canada Pension Plan (CPP) is an essential part of the Canadian retirement system, designed to provide income for individuals when they retire. For most working Canadians outside of Quebec, making contributions to CPP is mandatory. This guide will help you understand who needs to contribute, how contributions are made, and what changes are coming in 2025.
As a small business owner, navigating uncertainty is part of the job. Market shifts, evolving customer needs, and technological changes can all impact your operations. That’s why having a solid strategy to anticipate and plan for the future is crucial—and that’s where financial forecasting comes in.
For small business owners, financial forecasting isn’t just about crunching numbers—it’s a powerful tool that can help you navigate the future with confidence. By predicting revenues, expenses, and cash flow, forecasting provides insights to guide decisions, manage risks, and plan strategically.
In this blog, we look at four common types of financial forecasting and explore how they can support your business’s growth and stability.
If you’re turning 65 soon, and planning to continue working, you might be wondering how much income you can earn before your Old Age Security (OAS) pension is reduced. This reduction, often referred to as the "OAS clawback," is something many Canadians face when their income exceeds certain thresholds. Here's a closer look at how the clawback works and what you can do about it.
