After almost 14 years of tax experience, I’ve recently discovered that most people unfortunately don’t know their basic rights when it comes to claiming their tax deductions or credits. Individual taxes are becoming more complex and you should seek advice from tax experts.
Below the major upcoming some changes effective for the 2014 tax return! When you register for online mail, the CRA will no longer mail notices to you. Instead, you will receive an email notification that there is mail for you to view on the MY Account on line service You or your spou
If you are an owner of a small business and you already set up a corporation, you may consider “Shareholder Loan” before paying yourself a salary or dividends. Shareholder Loan means, when the owners of the business pay for the expenses on the behalf of their corporation therefore the
Tip#3 Salary & Dividend Mix: Following my previous blogs, the last option about how I should pay myself at the end of this year would be if the owners of corporation are using a mix of dividends and salary in order to minimize their taxes. They still have to pay some taxes and CP
How should I pay myself this year? – Dividends – Salary – Dividends & Salary Tip 1: Dividends Prior 2014 it was beneficial to the business owners to pay dividends rather than a salary from their corporation, however, it was changed on non- eligible dividends rega