Tag: featured

“Sole Proprietorship vs Incorporation” – Planning your business strategy

Should you incorporate your small business? (Sole proprietorship, partnership etc) Jumping from Sole Proprietorship to Corporation in Canada? We’ll break it down step by step. Earning side income or owning a small business can be a very rewarding experience, both emotionally and financially. The…

COVID19 Resources – Personal & Business (Updated 5/21/2020)

General Information: (Updated 5/21/2020) **Expanded criteria for CEBA – to allow Sole Props to claim** Most updated interactive guide to programs available: https://www.canada.ca/en/department-finance/economic-response-plan.html -This encompasses Individual, Business & Industry General info on benefits with all relevant links for even more info!  https://newsinteractives.cbc.ca/coronavirusbenefits/ General Links:…

What medical expenses can I claim on my taxes in Canada?

Medical expenses can be claimed on your tax return through the Medical Expense Tax Credit (METC).  The Medical Expense Tax Credit is a non-refundable tax credit (cannot bring your taxes owed above 0) which is calculated by taking the lesser of 3% of your…