Take control of your wellbeing by learning about the various health care options available to independent contractors! As a Canadian citizen or legal resident, you have access to free, standard healthcare through your provincial plan, regardless of your employment...
Decide how to form your business by reviewing the advantages and disadvantages of a corporation. Corporations are legal entities governed by federal and provincial law. In a corporation, stockholders maintain shares as proof of ownership. Usually, company executives...
Much of the Canadian workforce comes from smaller enterprises, making Canada one of the top places in the world to start a business. However, the definition of a “small business” varies in this country and depends on several surprising factors. It’s not enough...
If you recently started a small business or are looking to improve your business’s financial management, the next step is developing a comprehensive bookkeeping system. That can seem like a daunting prospect, especially if you don’t have the knowledge or experience to...
Paying yourself is one of the most rewarding and most challenging aspects of being a business owner. If you've set up a small corporation, you can choose between dividends or wages as your main form of income or have a mix of both. The type of remuneration you choose...
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...
Healthcare plans in most provinces will help pay for lower-limb prosthetics, but coverage rules are complex, and costs often exceed government funding limits. Many people turn to alternative funding sources to cover the expenses associated with getting a prosthetic...
MRI, or “magnetic resonance imaging,” is a special type of non-invasive testing that uses intense magnetic fields to generate radio waves that bounce off organs and tissues and produce very detailed images. MRI scans are an essential diagnostic tool, yet Canada has...
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...
