Helpful Tips
Taxes
Contingency Fees and WIP
By: Percy Pierre, CFP, CLU, CHS Budget 2017 proposed to eliminate the ability of certain designated professionals (i.e., taxpayers carrying on a business that is the professional practice of an accountant, dentist, lawyer, medical doctor, veterinarian or chiropractor)...
The Disability Tax Credit is the gateway to $90,000
By: Maria Campanella, M.Sc. The benefits of the Disability Tax Credit (DTC) go beyond just reducing last year's taxes. These savings could quadruple in a Registered Disability Savings Plan (RDSP), which is only available to those who are approved for the DTC. Yet, we...
Tax Planning and ODSP Changes
By: Percy Pierre, CFP, CLU, CHS With tax season in full swing, advisors and clients are turning their attention to their annual filing. The governments of Canada and Ontario (as well as all the provinces) provide taxpayers with some tax relief in the form of tax...
Tax on Split Income
By: Cathy Gardiner, CPA, CA Since July 2017, there have been many discussions among small business owners about how changes to tax on family income earned in a private corporation will be affected. The 2017 proposals related to Tax on Split Income represented the...