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    Proposed Liberal Tax Changes: Anticipated Results & Strategies for Small Business

    To start with, I’ve read through the monster of a discussion paper that the Finance Minister had issued earlier this summer. I’ve also been keeping up to date on what other professionals have been saying about this topic. It has taken me a couple months to write this post because I’ve been too busy working with our clients to come up with tailored strategies. Businesses are a very interesting living entity, it is a collection of people, processes, assets and liabilities. It does not have emotions and its only true moral responsibility is to remain profitable. While a business can certainly decide to have more moral responsibilities, but remaining profitable…

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    RRSP Pitfalls that CRA does not tell you

    If you are like most Canadians then you are banking a portion of your retirement plan with your Registered Retirement Savings Plan (RRSP). Before I get into the details of this article, I want to first qualify that I think everyone should have some RRSP regardless of what I have to say about them herein. We all will retire one day and the RRSP should be factored into all our equations. The features of the RRSP is that when you are young(er) you will make a deposit to your RRSP and in turn you get to deduct that amount off the top of your net income that is used for…

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