by Chris Hammond | Jul 21, 2017 | News
Every business owner should be concerned about creditor proofing his assets. Consider these suggestions: 1. Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise in the operating...
by Chris Hammond | Jun 14, 2017 | News
The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and their family caused by the loss of income due to retirement, disability and death. There are three types of CPP...
by Chris Hammond | May 31, 2017 | News
When deciding as to whether a salary should be paid to a family member, or more specifically to one’s spouse, numerous questions arise. On one side, there is the question of the risk involved that the salary may be unreasonable and having the expense being disallowed....
by Chris Hammond | May 17, 2017 | News
If you run your own business or you are self-employed, you may be tempted to report only part of your income to the tax authorities. Or you might consider suppressing information about your activities. If you are audited by the Canada Revenue Agency (CRA) you should...
by Chris Hammond | May 4, 2017 | News
Voluntary Disclosure Program If you owe money to any of the tax authorities because you failed to file a return for one or more years, you should take advantage of the voluntary disclosure program. Typical voluntary disclosures include; domestic business income never...
by Chris Hammond | Mar 24, 2017 | News
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as a van, bus, pickup truck, station wagon, SUV, or other truck). Many individuals use their vehicles for work or business and incur personal expenses...
