Entries by Chris Hammond

Taxes and Your Business Investment Loss

A loss on an investment in a company you own or made in another person’s small business can qualify for some advantageous tax breaks. This helps ease the impact on your finances for the year. Whether the investment was in shares or a loan to a small business, it may qualify for a full deduction […]

Accelerated Write-off of New Asset Purchases

Who doesn’t love write-offs? Did you purchase new assets after November 20, 2018? In the November 21, 2018 Fall Economic Statement, the federal government proposed three important and immediate changes to Canada’s tax system. In order to enhance business confidence in Canada and stay competitive with the United States: The immediate write-off for tax purposes […]

2018 Automobile Deduction Limits and Expense Benefit Rates for Business

February brings many questions with tax season approaching fast. One of the most common topics being automobile deductions.

Capital Gains, Losses, and Other Tax Planning Concerns

Capital Gains Exemption Deduction

Estate Planning

Estate Planning and Tax Implications When estate planning, your consultant may suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages that most people are unaware of. Some of these include:

Should You Incorporate Your Business?

Have you wondered if you should incorporate your business? Historically the income tax system in Canada has benefited incorporated Canadian small businesses.