The Small Business Outlook
Blog Articles by Doug Ronson
RRSP Contribution: Everything You Need To Know
Registered Retirement Savings Plans (RRSPs) are a great way to save for your golden years and at the same time avoid paying taxes. Every working person should take advantage...
Is RRSP Home Buyers Plan (HBP) worth it?
It’s challenging for first-time home buyers to save for a down payment that’s large enough to avoid mortgage insurance requirements and keep debt at a manageable level....
Why Use a Mortgage Broker Instead of a Bank?
With house prices hitting record highs in many parts of Canada, buyers are being forced to take out big mortgages. As a result, it makes sense to find the best possible...
How Does a Prescribed Annuity Work?
Regular annuities are a safe way to guarantee a stream of monthly income. You hand over a large amount of cash (typically $100,000 or more) and in return get a modest monthly...
What is a Spousal RRSP and How Does It Work?
Spousal RRSPs permit couples to balance their savings contributions, allowing them to pay to less tax when they withdraw money upon retirement. So, if you are married or have...
The Pros and Cons of Whole Life Insurance
A whole life insurance policy provides a cash payout to your loved ones in the event that you die. While no one likes to contemplate their own demise, it’s important to...
A Basic Guide to Independent Contractor Taxes in Canada
Being an independent contractor can have significant tax benefits in Canada. In many cases, you can deduct home office costs, mileage to travel to your client’s place of...
What is Estate Tax and Inheritance Tax in Canada?
The good news is that there is no estate or inheritance tax in Canada. The bad news is that taxes on income and capital gains must be paid when someone dies.
What is an investment loan and how does it work?
When a person borrows money to invest in stocks or real estate, this is called an investment loan in Canada. In many cases, the interest payments are tax deductible. However,...