Shaelene’s Tax Tip of the Week – September 8th

Books In Line

TFSA or RRSP?

 

“The “best” investment is going to depend on your individual financial situation and goals. Remember: With a TFSA, you pay tax on money you’ve earned before you make a contribution: and with an RRSP you get a tax refund now on money you contribute, but will have to pay tax later, on money you withdraw from the plan.This difference, along with your income, your investment timeline, and other factors will all contribute to making the right decision for your investment dollars. You may find that you can use both vehicles simultaneously.”

Have questions? Give us a call at 905-571-2665 (BOOK)! We’ve got you covered!

Shaelene’s Tax Tip of the Week – August 25th

Books In Line

Are you self-employed?

Remember to set aside at least 25% for personal income tax. As a general rule, you should always set aside 25% of your income for taxes. You’re taxed only on your net income which is your total income minus all your expenses.
Have questions? Give us a call at 905-571-2665 (BOOK)!

Shaelene’s Tax Tip of the Week – August 18th

Books In Line

Have you given an employee a gift recently?

It isn’t always a taxable benefit. Non-cash gifts for a special occasion have an upper limit of $500, and non-cash gifts for a work anniversary have an upper limit of $500 every five years. Anything in excess, however, is a taxable benefit.

Have questions? Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!