EI 2012 Not only will you see a little less take home pay as a result of CPP but now CRA has announced higher rates and maximums for EI. The following table is from the CRA announcement. Year Max. … Continue reading
More Taxation – EI Rates 2012
New Ceilings for CPP
MORE CPP Further to the comments that I made about changes for taxpayers that are 61 to 70, here is some information for everyone that will dent your 2012 pay. CRA has set the maximum pensionable earnings under the Canada … Continue reading
Quick Tips on Estate Planning
Estate Planning There are several areas that are included in estate planning. Here is a brief list of some of them: You should have a will that includes your desires and tax considerations. You should … Continue reading
Canada Pension Plan Changes for Employers
CANADA PENSION PLAN Did you know…? Changes to the way employers deduct Canada Pension Plan (CPP) contributions are coming into effect in January 2012. Important facts for employers Starting January 1, 2012, you must deduct CPP contributions for all employees … Continue reading
The CRA Letter
THE CRA LETTER On December 16, 2011, the Canada Revenue Agency (CRA) reported that it will be conducting a 2012 letter campaign in the near future. Two types of letters can be expected. The first letter will explain the eligibility … Continue reading
Tax Planning 101
TAX PLANNING 101 Undoubtedly you have been reading about tax ideas to reduce your 2011 tax burden. Some of these ideas are time sensitive such that you need to act before December 31. Just a few ideas and this is … Continue reading
Choosing An Accountant Part 5: The Understanding Accountant
THE UNDERSTANDING ACCOUNTANT My final and most important comment on choosing the right accountant relates to the empathy or understanding of your accountant regarding your business and the challenges that you face on a day to day basis as a … Continue reading
Choosing and Accountant Part 4: The Reliable Accountant
THE RELIABLE ACCOUNTANT The reliability is probably the key factor in establishing a trusted relationship with your accountant. If you want your questions answered then you need someone who gets back to you or visits your business on a regular … Continue reading
Choosing an Accountant Part 3: The Good Looking Accountant
THE GOOD LOOKING ACCOUNTANT I am venturing into dangerous ground with the above caption for this blog. However, the appearance of your accountant can help you make the right choice. Let’s make the assumption that most business owners want to … Continue reading
Choosing and Accountant Part 2: The Competent Accountant
THE COMPETENT ACCOUNTANT Business owners expect that their accountant is “competent” in the financial and tax matters that effect their operations. Unfortunately this is a Catch 22 situation as the knowledge that defines competence is what the owner doesn’t have … Continue reading