Shaelene’s Tax Tip of the Week – November 13

Did you know?

Claiming auto expenses is beneficial to reducing your taxable business income. Auto expenses include fuel and oil, license and registration, maintenance and repair, insurance, car washes, parking, tolls, interest paid on an auto loan and leasing costs. Be sure not to miss out on these costly expenses by being sure to save every receipt.

Have questions? Give us a call! 905-571-2665

Shaelene’s Tax Tip of the Week – October 23rd

Why should you consider buying into an RRSP’s (Registered Retirement Savings Plan)? 

It is a great way to save on taxes!

 Remember, this program is a tax deferral program, meaning that when you withdraw the funds at a later date, it is expected that you will be in a lower tax bracket. Once your money is in the plan, it can grow and grow (thank you compound interest!), and again, you will only pay tax on the funds as you withdraw them.

Have questions? Give us a call! 905-571-2665