Articles

Understanding the Statement of Remuneration (T4): What It Is and Why It Matters As tax season approaches, one document plays a central role for both employers and employees: the Statement of Remuneration Paid, more commonly known as the T4. While it’s a familiar form, the T4 often raises questions — especially for business owners managing … Read more

What Is Tax Planning? For many small business owners, taxes are something to think about once a year. You gather your documents, file your return, and deal with whatever number comes out at the end. But tax planning works differently and that difference matters more than most business owners realize. Tax planning isn’t about finding … Read more

The start of a new year often brings a sense of momentum. Business owners review what worked, what did not, and what they want to improve in the months ahead. It is a natural time for goal setting, planning, and resetting priorities. Tax season arrives at the same time, and while it is rarely something … Read more

For many small business owners, tax filing has traditionally been treated as a once-a-year task: gather the documents, submit the return, and move on. But that mindset is changing. Across Canada, more small businesses are choosing to work with tax specialists. They are doing this not just to file accurately, but to understand their numbers, … Read more

Professional Business Tax Preparation and Filing What It Really Means for Your Business For many business owners, tax preparation is seen as a required task rather than a strategic one. As long as the return is filed on time, it can feel like the job is done. But professional business tax preparation and filing goes … Read more

The 2025 Federal Budget, Building Canada Strong, is focused on three big goals: Building more homes Upgrading infrastructure Supporting businesses All while the federal government pledges to tighten its fiscal belt. For small business owners, farmers, and entrepreneurs, Budget 2025 brings both new opportunities and a few policy resets that could shape the year ahead. … Read more

As we wind down another challenging year of dealing with historic inflation, the last thing you want to think about is taxes. However, with profit margins tighter than ever, this is exactly the right time to take steps to minimize your tax burden. For incorporated businesses, this starts with understanding your income tax rates. 2025 … Read more

Long hours, harsh conditions, and a constant battle against the clock. As a truck driver, you’ve got a lot on your plate. But what about your taxes?

What is a tax write-off? A tax write-off is simply another way of saying “tax deduction.” With a tax write-off, you can deduct a large number of expenses approved by the Canada Revenue Agency, all of which help to significantly reduce your taxable business income. For example, if you make $100,000 a year and have $15,000 … Read more

What is income splitting? Income splitting is the strategy of redistributing income within a family—usually from a spouse in a higher tax bracket to a spouse in a lower tax bracket—to reduce a family’s overall tax bill. In general, income splitting works best when one spouse earns significantly more income than the other, so the … Read more