What’s a TSFA account?
A TSFA account (Tax-free Savings Account) is a government-sponsored investment account that was introduced in 2009 as a way to encourage Canadians to save for their retirements. For many people, a TSFA is a simple, little bank account where you can store away some money and not pay any taxes on it. You collect the […]
Top Considerations for Small Business Financial Planning
Small business owners have many things to consider when running a successful company. They have to deal with overhead, staffing, marketing, and the general day-to-day operations. There are a lot of tasks and they end up wearing many different hats to succeed. Financial planning isn’t something they should try to do by themselves. With so […]
Tips on tracking business expenses
Even though tax season is a distant memory, business owners all over the Lower Mainland should be saying the same thing: “I need to start tracking my business expenses better than last year.” If you’ve ever lost a business receipt, or spent far too much time trying to track down your credit card charges, here […]
What you should know about rental property tax deductions in BC
If you are renting property in British Columbia, whether that is a separate property or one or more rooms in your home, there are many expenses that can be deducted when doing your personal tax planning and calculating your rental income. Some of the basic expenses you can claim are: • Mortgage interest • Property […]
Primary Types of Financial Planning
Financial planning is a critical service offered by accountants for both business and personal clients. Making an effective financial plan can help set goals and get the client ready for the future. Here are the three primary types of financial planning: Short-term This is the financial plan that sets out the goals and strategies for […]
Gearing up your small business for 2017 tax season
The new tax year has arrived, which means that it’s time to get ready to produce everything necessary for the 2017 tax season. For small business owners, this can be an incredibly stressful time of year. With April looking in the future, here are a few ways your small business can gear up for the […]
