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How to use income splitting to reduce your tax bill

While there are attribution rules in place that prevent income splitting, there are exceptions to the rules you can use to make income splitting work to your advantage and grow your family wealth.

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5 cash-flow mistakes small business owners make

One of the most important things you can do for the financial health of your small business is to monitor your cash flow - the amount of money going in and out of the business. Sounds simple, right? But many small business owners find themselves with unexpected shortfalls.

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Selling your small business: Share sale vs asset sale

If you’re selling your small business, is it better to do a share sale or an asset sale?

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What you need to know about your Notice of Assessment

After you file your tax return, you’ll be issued a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA). We provide some tips on what to look for when you receive your NOA, common reasons for discrepancies between your NOA and tax return and how to handle them.

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7 simple ways to organize your receipts

Does the thought of organizing your receipts fill you with dread? We get it. It can seem overwhelming to keep track of your receipts on top of the busy demands of running your own business. But putting in the work now means you’ll save time when it comes to filing your taxes.

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What you should know when making a will in Canada

A will is the foundation of your estate planning, helping protect your family and assets.

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What Are the Canadian Tax Responsibilities when Closing a Business?

There are a lot of steps you need to take when closing your business. Not knowing what the tax obligations are could end up costing you a lot of money.

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Intergenerational Land Transfers

Farmers preparing their wills and succession plans should be aware of the details of the capital gains exemption and the capital gains deduction.

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The Importance of Tax Planning and Managed Accounting for Farmers

Explaining important functions that tax planners and managing accountants can help farms with.

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"I have not failed. I’ve just found 10,000 ways that won’t work." — Thomas A. Edison