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Your source for expert commentary and information in the fields of tax, accounting, human resources, estate planning and technology.

Important considerations for intercorporate management fees

Sunday July 24, 2022

If you use multiple entities (corporations, trusts, partnerships) for business purposes and bill central management fees between them, there are some important things you should know. The CRA is aware that some corporations use intercorporate management fees to reduce (or eliminate) taxes by [...]
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Should I make a Cost Plus benefit claim for son's orthodontist expenses?

Wednesday June 15, 2022

QUESTION: I am a business owner and I’m considering making a Cost Plus benefit claim for my teenage son’s orthodontist expenses of $242.00/month (approx. $7000 in total). Does this make sense from a tax perspective? ANSWER: A Cost Plus benefit claim is a [...]
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Lock in family income-splitting loans before prescribed interest rate increase

Tuesday May 24, 2022

There is a window closing June 30th on prescribed rate loan planning. On July 1, 2022, the CRA’s prescribed rate of 1% for family income-splitting loans will rise to 2%, and may continue to rise in the quarters and years ahead. But if [...]
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The Importance of Successful Inventory Management

Thursday April 28, 2022

Inventory management is one of the biggest challenges faced by small-to-medium sized manufacturing and distribution enterprises. Whether you warehouse raw materials, finished goods, or both—how you manage your inventory has the potential to make or break your business. Inventory management refers to demand [...]
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