Justyn

Workspace in Home Claims

  • by

If you worked from home in 2021 due to COVID, you should be prepared to prove your Workspace in Home claim.

Holding Digital Assets in RRSP’s

  • by

Holding digital assets in an RRSP may open you up to higher taxes. If interested in holding digital assets in a tax-sheltered savings account such as an RRSP, make sure that item is a qualified investment.

Life Insurance Policies

  • by

Holding a life insurance policy in a corporation can be a useful tool to assist with continuity upon death of an owner-manager. The use of insurance tracking shares can mitigate increases in capital gains upon death when using such policies.

Director Liability

  • by

If you intend to resign as a director, ensure that the resignation of yourself as a director is received by the corporation.

Providing Supplies to your Contractors

  • by

Improper bookkeeping may open you up to an audit not just on the errors but ALL expenses. Providing supplies to independent contractors is a dangerously thin line. Make sure you’re on the right side.

Salaries to Family Members

  • by

Oftentimes, family members of the owner of a business will work for the business. However, these arrangements can be somewhat informal, and amounts paid may be denied as a business expense if the work performed and amounts paid to the worker are not properly documented.

Enhancing the Value of Owner Managed Business

  • by

Starting the discussion on how to maintain and enhance the value of an owner-managed business should be commenced many years before the anticipated sale or transition.

CRA or Scammer? Who is Calling You?

  • by

Follow these instructions if you suspect a call is from a fraudster or scammer. Give us a call if you are uncertain how to respond to a call from CRA, whether or not it sounds legitimate.

Wills and Beneficiary Designations

  • by

Ensure to review wills and beneficiary designations when major life events or changes in the family occur. Death or critical illness/injury can arrive unexpectedly, limiting the possibility of estate planning updates that can compound the emotional strife of loved ones after an individual’s passing.