For high-net-worth families, retirement planning transcends the mere notion of saving—it's a meticulous art that balances enjoying a well-deserved lifestyle while safeguarding the wealth you intend to pass on. As a Chartered Professional Accountant, Master in Tax Law, MBA holder,…
The Registered Retirement Savings Plan (RRSP) is a cornerstone of retirement planning for Canadians, offering tax-deferred growth on investments and a way to reduce taxable income through contributions. However, the benefits of RRSPs extend beyond retirement savings alone. Two notable…
Introduction: Mastering the Art of Mergers and Acquisitions for High-Net-Worth Family Enterprises Mergers and Acquisitions (M&A) are pivotal events in the lifecycle of any business, more so for family-owned enterprises where the stakes extend beyond the balance sheet. These transactions…
The Underused Housing Tax, introduced by the Canadian government, represents a strategic initiative aimed at mitigating the challenges of housing affordability and availability across the nation. With its inception on January 1, 2022, following the Royal Assent of the Underused…
In this blog, we delve into the world of automated bookkeeping, spotlighting leading software solutions like Xero, QuickBooks Online, Wave Accounting, Sage Intacct, and Zoho Books. Each of these platforms offers unique features to streamline and enhance the accuracy of…
When owning property in British Columbia (BC), especially when it involves periods of vacancy, there are several tax considerations that property owners must be aware of. These considerations are crucial for ensuring compliance with tax laws and optimizing tax outcomes.…
Introduction In the realm of financial management, AI and automation are revolutionizing the way we understand and execute bookkeeping. For Canada's high-net-worth families, these advancements are not merely about efficiency; they are about unlocking strategic insights that redefine wealth management.…
Navigating the complexities of tax deductions can be a daunting task, especially when it comes to understanding what qualifies and what doesn’t. One area that often raises questions is the deduction of union and professional dues. This blog aims to…
Comprehending the nuances of your organization's accounting and bookkeeping records is crucial for a thorough understanding of historical financial activities. This understanding paves the way for forecasting future financial outcomes and facilitates well-informed managerial decision-making. The cornerstone of effective financial…
The Volunteer Firefighter Tax Credit (VFTC) is a significant provision within the Canadian tax system designed to acknowledge and support the crucial services provided by volunteer firefighters across the country. This tax credit is rooted in the Income Tax Act,…