Featured Article What is long term care insurance in Canada? Many Canadians think that the government health care system will cover all of their costs if they need to move to a long-term-care facility or require at-home assistance with the activities of daily life. Unfortunately, this is not the case. July 6, 2022
What’s the difference between a partnership and a corporation? When you start a business in Canada, one of the most important decisions that you must make is what kind of legal structure it will have. There are three main options: sole... Read more
What is a Professional Corporation in Canada? - Examples If you work in certain professions in Canada, you may be able to save taxes by forming a professional corporation. These are similar to regular corporations but do not limit... Read more
Unanimous Shareholder Agreement - Explained These types of agreements are usually used by companies with a small number of shareholders, which are often called “incorporated partnerships.” A unanimous shareholder... Read more
What is an arm's length employee? When you own a family business, you may have two types of employees: arms-length and non-arm’s length. In this article, we’ll discuss non-arm’s length employees, who are... Read more
Guide: How To Incorporate in Ontario When you start a business, you have two options. First, you can operate as a sole proprietorship and simply report your earnings on your personal income tax return. The... Read more
What is a Non Registered Account and How Does It Differ? In Canada, the government offers special tax treatment in registered accounts, such as an RRSP and TFSA. These registered accounts come with certain restrictions. On the... Read more
What is a Lifestyle Spending Account (LSA) and how does it work? These are fairly new employee benefits designed to encourage employees to maintain and improve overall wellness. They can be used to attract and retain outstanding employees... Read more
What is the RRSP Deduction Limit? An RRSP is a great way to save for your retirement. However, the Canadian government does put a limit on how much you can contribute and deduct from your taxable income. Read more
LIRA vs RRSP: what’s the difference? Let’s start with the similarities. A Locked-In Retirement Account (LIRA) and a Registered Retirement Savings Plan (RRSP) are both investment vehicles that help you save for... Read more
How does the disability tax credit work? People with disabilities face costs that other taxpayers don’t, such as attendant care, special devices and computer software. In addition, they are more likely to be able to... Read more
