Tax Planning For Private Corporations

A couple of weeks ago, the Minister of Finance, Bill Morneau, made a series of announcements regarding the government’s plans to reform the taxation of private corporations.  For those of us in the tax community that were hoping for some clarity so that we could get...

Shoud I Incorporate My Business? Post #1

Smoothing your Personal Income Tax Liability One of the things I do in my spare time is volunteer as a mentor for small business start-ups in a program run by the Small Business Enterprise Centre of the Hamilton Economic Development department.  We cover a wide range...

Cloud Accounting – Why Should I Switch?

I often get asked by clients “why should I move my accounting to the cloud?”  In most cases, these clients are quite happy restricting their bookkeeping activities to the office, and the last thing they want to hear is that they can send their customer an invoice...

Small Business Tax Planning Under Attack

The consultation paper and draft legislation released by Finance Minister Bill Morneau last month is likely the biggest attack on perceived tax benefits available to incorporated small business owners in decades.  Aside from the content of the proposals, one of my...