Moodys Gartner 2016 Federal Budget Summary

Moodys Gartner Tax Law LLP have put together a good summary of the tax measures that may interest our clients, along with their analysis and some commentary.

Intuit QuickBooks February 2016


This is the latest marketing material from Intuit Quickbooks and it has a few good tips that may help our small business clients better understand and manage their cash flow.

Business Matters Newsletter 30.1 (February 2016)

INCORPORATION "Let's Incorporate: The incorporation process is relatively simple whether you incorporate provincially or federally."; TAXATION "Crowdfunding: Crowdfunding is a new way to raise money; however, be careful of the tax implications."; MANAGEMENT "I Hear YouEffective communication is the key to effective management."; TECHNOLOGY "Dashcams: Dashcams can provide the key evidence in a vehicle accident or fraud claim."

Business Matters Newsletter 29.6 (December 2015)

PERSONAL FINANCE "Happy New Year!The end of the year is a good time to review long-term investments and mortgages."; TECHNOLOGY "Marshmallow, Anyone?Security of the mobile devices used in your business should be a primary concern."; TAXATION "Tax Benefits for the Self-EmployedThere are many tax advantages for self-employed Canadians who work from home and hire family members in their business."; MONEYSAVER "I Am So TiredLack of sleep can reduce productivity, increase absenteeism and add to the risk of accidents and errors on the job."

Business Matters Newsletter 29.5 (October 2015)

FRAUD PREVENTION "Income Tax ScamsBeware of telephone calls or emails from persons pretending to be CRA agents and asking for personal information or promising you a tax refund."; MONEYSAVER "Keep On Truckin'Monitoring each vehicle as a cost centre is the key to managing fleet costs."; HEALTH AND SAFETY "Sorry, I Couldn't Hear ThatExcessive noise levels can injure employees and result in expensive insurance claims."; TAXATION "Giving to CharityCheck with your tax advisor to make sure your charitable donation meets the requirements for your maximum tax deduction."

Business Matters Newsletter 29.4 (August 2015)

MANAGEMENT "Burnout: Overly stressed employees can negatively affect productivity and profitability."; TAXATION "Take TwoMake sure you collect and keep all your receipts for tax-deductible medical and moving costs."; MANAGEMENT "A Joint CommitmentAny business is a joint enterprise between its employer and its employees."; TECHNOLOGY "Virtual OfficesVirtual offices reduce costs significantly for certain types of businesses."

Business Matters Newsletter 29.3 (June 2015)

TAXATION "Salary or Dividends?The way a bonus is paid has a significant effect on corporate and personal after-tax income."; MANAGEMENT "You're HiredHuman rights legislation governs all hiring practices."; MONEYSAVER "Improve the Bottom LineIncreasing revenue is not the only way to improve the bottom line."; TECHNOLOGY "Metamorphosis: 'A change would do you good.' -Sheryl Crow.'"; 

Tax Alerts

When the Canada Pension Plan was put in place on January 1,1966, it was a relatively simple retirement savings model. Working Canadians started making contributions to the CPP when they turned 18 years of age and continued making those contributions throughout their working life. Those who had contributed could start receiving CPP on retirement, usually at the age of 65. Once an individual was receiving retirement benefits, he or she was not required (or allowed) to make further contributions to the CPP. The CPP retirement benefit for which that individual was eligible therefore could not increase (except for inflationary increases) after that point.

For all but a very fortunate few, buying a home means having to obtain financing for the portion of the purchase price not covered by a down payment. For most buyers, especially first-time buyers, that means taking out a conventional mortgage from a financial institution.

The month of September marks both the end of summer and the beginning of the new school year for millions of Canadian children, teenagers, and young adults. And, whatever the age of the student or the grade level to which he or she is returning, there will inevitably be costs which must be incurred in relation to the return to school. Those costs can range from a few hundred dollars for school supplies for grade school and high school students to thousands (or tens of thousands) of dollars for the cost of post-secondary or professional education.

The administrative policy of the Canada Revenue Agency (CRA) with respect to charities has been that no more than 10% of a registered charity’s resources can be allocated to non-partisan political activity. Where the CRA views a charity as having exceeded that threshold it may impose sanctions, up to and including revocation of a charity’s charitable registration status.

Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues.

For most Canadians, having to pay for legal services is an infrequent occurrence, and most Canadians would like to keep it that way. In many instances, the need to seek out and obtain legal services (and to pay for them) is associated with life’s more unwelcome occurrences and experiences — a divorce, a dispute over a family estate, or a job loss. About the only thing that mitigates the pain of paying legal fees (apart, hopefully, from a successful resolution of the problem that created the need for legal advice) would be being able to claim a tax credit or deduction for the fees paid.

From our family to yours, we with you all a very happy Father's Day.

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