RRSPs are one of the best options for Canadians looking to invest in their future. However, just like any other retirement savings plan, it’s vital to understand the RRSP pros and cons before deciding if it’s the right option for your financial situation. Table...
The Medical Expense Tax Credit (METC) is a non-refundable tax credit that allows you to claim back a portion of your medical bills and health insurance costs as a tax credit. It's important to note that because it's a non-refundable tax credit, you can only use the...
When tax time comes, the last thing you want to do is miss out on beneficial refunds and credits, either for yourself or your business. When it comes to missed tax savings, medical expenses top the list. A long list of medical expenses are tax-deductible in...
One worry when launching a small business in Canada is how to manage your taxes. Every company, from Amazon to your local barbershop, receives some form of tax breaks. That’s why we’re here to give you a few pro tips on how to take advantage of the best tax benefits...
Tax season is upon us, and it's hardly an event that people anticipate with pleasure. Despite the headache, filing taxes is a straightforward process, and you can do it on your own. If you are self-employed, there are specific rules, expenses, and deductions that...
In 2017, per capita, healthcare spending in Canada came in at around $4,500, and the average life expectancy was 81.7 years that same year. Because there is no designated “healthcare tax,” it is hard to know exactly how much of our taxpayer money goes into healthcare...
Filing taxes is a stressful process for many Canadians. From collecting all the requisite paperwork to meeting deadlines, it can be tough to feel confident that you have done everything right. The process often feels even more daunting for those who are small business...
