Tax Saving Tips
Heere are some tips on how to save Taxes
 
Individuals
  • Contribute to your RRSP (Registered Retirement Savings Plan).There is a double benefit of doing this. Ask us how?
  • Buy stock options offered by your employer. This will result in your savings grow and taxed at 50%rate when you sell them
  • Make sure to open a tax free savings account where your savings grow without being taxed and the money can be withdrawn in future without any tax implications

Business

  • Ask us about the benefits of incorporation and the tax savings in Corporations that can be taken
  • Salary vs. dividend which is a better option? Ask us on details.
  • Income splitting tool when you pay salary to your spouse and children. This results in overall tax savings
  • Auto log is necessary for all business owners who have a car use for business purposes. We have sheets designed for these logs

Sole Proprietors

  • Ask us if you are eligible for Incorporating your business. We will assess your situation based on criteria so that advise you to incorporate which will result in overall tax savings
 
 
6800 Kitimat Road, Unit-3, Mississauga, ON, L5N 5M1. Toll Free : 1.877.893.3059 - Click here for direction
 
 
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