Salary vs. Dividends
Salary vs. Dividends is a very common question asked by all clients when preparing tax-plans for them. Today’s blog will outline the top factors to help you determine whether you should be paying out a salary or dividend from your corporation. There are quite a few variables that have to be analyzed to determine which works best for each individual client. 1- Are you applying for Mortgage or a [...]
Non-resident Selling property in Canada 2025
Non-resident Selling property in Canada 2025 - GUIDE If you are a non-resident of Canada planning to sell Canadian real estate such as a land or an rental investment property, this article is a complete guide for you. This article will provide advice for non-residents selling Canadian real estate. It will also outline strategies, pitfalls and the general Canadian tax obligations for non-residents of Canada planning to sell [...]
Non-Resident Selling Property in Canada
Non-resident selling property in Canada Are you a non-resident selling property in Canada? Then this blog post is for you. We will discuss the tax implications for non-residents selling property in Canada. It is also important that even if you’re purchasing Canadian real estate from a non-resident seller that you are aware of the tax rules. 1 - Be aware of Non-Resident Withholding taxes! The the general [...]
Leasing vs. Buying a Car
Today’s blog will discuss leasing vs. buying a car under your corporation. You can also use this as a guide for your sole proprietorship business as the tax concepts for leasing vs. buying a car are very similar Buying a Company Car: In leasing vs. buying a car, the first option is purchasing a vehicle under your corporation; you need to begin by making sure when you purchase the [...]
Incorporate Sole-Proprietorship Business using Section 85 Rollover
Incorporate Sole-Proprietorship Business using Section 85 Rollover Did you know you can transfer a sole-proprietorship business into a corporation tax-free? Learn how to Incorporate your sole-proprietorship business using a Section 85 rollover to improve your legal structure and obtain the tax benefits! Section 85 Rollover; If you have been operating a sole-proprietorship business and are now incorporating; make sure you elect under the Section 85 rollover to avoid personal [...]
Filing taxes as an independent contractor
Filing taxes as an independent contractor can be frustrating when you have been used to working as an employee. We encounter many clients who are totally new to these arrangements and have no clue about the steps to get started. This blog will focus on First Time Independent Contractors and Consultants who were previously full-time employed but have switched over to either a sole-proprietorship or incorporation entity.Here’s a quick [...]
Buying Real Estate in a Corporation
Ever considered using a real estate corporation to buy property? Corporate Real Estate is having a corporation as the legal owner and on title of a property instead of your personal name(s). It’s a very popular question asked by real estate investors and it’s hard to have one answer to that question without analyzing a client’s circumstance individually. However, there are few concepts that you should be aware about [...]
Becoming a Non-Resident of Canada
For many Canadians, it is quite common to leave Canada and become a non-resident for many reasons, employment can require you to work outside of Canada, you may choose to live outside of Canada or even just visit Canada occasionally. It is important for Canadian tax purposes you understand your residency for income tax purposes. This article will highlight some of the key items that are used to determine [...]
Accountant for Incorporated Truck Drivers/Owner Operators
Incorporated truck driver or owner operator who is incorporated? Then this blog post is for you to read, we will briefly be discussing some tax tips that you should be aware about along with one of the common pitfalls of the WSIB compliance. 1. Incorporate your Truck driving business! By incorporating your truck driving business you create another barrier to protect your personal assets such as your house, [...]
