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Should I Incoporate my Practice

Should I Incorporate my Practice?

Should I incorporate my practice? This is a common question for medical and dental professionals and it is one that has become increasingly more relevant since the new tax on split income (“TOSI”) rules were introduced in 2017. Determining whether or not incorporation is right for your practice is not straightforward and can be costly if you make the wrong decision. To begin the process of determining whether or not you should incorporate, consider the …

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Tips and Traps to Avoid to be an Effective Treasurer

Tips and Traps to Avoid to be An Effective Treasurer

To be successful a non-profit or charitable organization must earn the trust and respect of its donors and funders. Due to an organization’s financial management being directly tied to the Treasurer’s responsibilities, their execution of these responsibilities will have an impact on the public’s perception and confidence in the organization as a whole. When an organization is seeking a Treasurer they should keep this top of mind and look for individuals with strong financial literacy …

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Tax Time Fall Economic Updates Dec 2018

Tax Time – Fall Economic Updates – December 2018

The Federal, Ontario and Quebec governments have all issued Fall Economic Updates over the course of the last several weeks. We have summarized the key items from each update below. FEDERAL ECONOMIC UPDATE On November 21, 2018, Finance Minister Bill Morneau released the Liberal government’s Fall Economic Statement projecting continuing spending deficits into the 2022-2023 fiscal years. The government is proposing three immediate changes to Canada’s tax system, in order to enhance business confidence in …

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