https://prairieschoonerwc.com/wp-content/uploads/2021/07/10_Essential_Decisions_for_Business_Owners@2x.png 640 1000 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-07-06 16:58:002021-07-07 00:09:1010 Essential Decisions for Business Owners
Business owners are busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We've put together a list of 10 essential decisions for every business owner to consider.
https://prairieschoonerwc.com/wp-content/uploads/2021/06/salaryVsDividendFI.jpg 810 1440 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-06-02 17:03:192021-06-03 00:18:12Salary vs Dividend
As a business owner, you have the ability to pay yourself a salary or dividend or a combination of both. In this article and infographic, we will examine the difference between salary and dividends and review the advantages and disadvantages of each.
https://prairieschoonerwc.com/wp-content/uploads/2021/05/do-you-really-need-life-insurance-coverImage.png 500 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-05-05 16:28:002021-05-05 23:39:12Do you REALLY need life insurance?
You most likely do, but the more important question is, What kind? Whether you’re a young professional starting out, a devoted parent or a successful CEO, securing a life insurance policy is probably one of the most important decisions you will have to make in your adult life. Most people would agree that having financial safety nets in place is a good way to make sure that your loved ones will be taken care of when you pass away. Insurance can also help support your financial obligations and even take care of your estate liabilities.
https://prairieschoonerwc.com/wp-content/uploads/2021/04/FEDERAL-BUDGET-2021.jpg 281 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-04-22 10:37:312021-04-22 19:06:23Federal Budget 2021 Highlights
On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections: • Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits. • Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining. • Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.
https://prairieschoonerwc.com/wp-content/uploads/2021/04/Whats-new-for-the-2021-tax-filing-season_.jpg 281 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-04-02 06:00:002021-04-02 13:39:11What’s new for the 2021 tax-filing season?
Tax season is upon us once again. But since 2020 was a year like no other, the 2021 tax-filing season will also be different. Due to all the changes in both where and how Canadians worked, the Canadian government has introduced some new tax credits and deductions to keep pace with these changes. Our article covers all of the following: • How to claim home office expenses • The new Canada Training Credit • Pandemic emergency funds • New digital news subscription tax credit
https://prairieschoonerwc.com/wp-content/uploads/2021/04/500x500-THE-IMPORTANCE-OF-A-BUY-SELL-coverImage.png 500 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-04-01 05:00:002021-04-01 12:06:15Importance of a Buy-Sell Agreement
Working as a partnership between 2 or more individuals is never an easy task, and the situation only gets more complicated when one or more of them exits the business. Protecting not only the business, but your personal interests, as well as your family’s future are very important objectives for any business owner, and should not be overlooked.
https://prairieschoonerwc.com/wp-content/uploads/2021/03/estatePlanningFarmersFamilies_FI.jpeg 810 1440 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-03-01 02:34:002021-03-01 10:42:08Estate Planning for Farmers and Families
Having a family and a farm are blessings and can also bring a lot of worry. A lot of this worry can stem from not being prepared for a disaster like if something were to happen to you or your spouse.
https://prairieschoonerwc.com/wp-content/uploads/2021/02/COVID-19-Benefits-extended.png 281 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-02-22 14:09:462021-02-23 00:18:16Extended COVID-19 Federal Emergency Benefits
On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to: - Canada Recovery Benefit - Canada Recovery Caregiving Benefit - Canada Recovery Sickness Benefit - Employment Insurance
https://prairieschoonerwc.com/wp-content/uploads/2021/02/Self-employed.png 281 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-02-12 16:28:222021-02-13 02:12:15Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients
Great news for some ineligible self-employed Canadians who received the Canada Emergency Response Benefit (CERB)
https://prairieschoonerwc.com/wp-content/uploads/2021/01/TFSA_vs_RRSP_2021_Featured_Image.png 281 500 Prairie Schooner https://prairieschoonerwc.com/wp-content/uploads/2020/05/prairieSchoonerWebLogo-300x144.jpg Prairie Schooner2021-01-22 23:32:582021-01-22 23:35:33TFSA vs RRSP – What you need to know to make the most of them in 2021
Both TFSAs and RRSPs can be significant savings vehicles for your clients. We've put together an article to help your clients easily understand the differences between them – with one section focussing on differences in deposits and one focussing on differences in withdrawals. The deposit section focuses on: • How much contribution room is available each year • How carry forward works for TFSAs and RRSPs • Tax deductibility of contributions • Tax treatment of growth The withdrawal section focusses on: • Conversion requirements • Tax treatment of withdrawals • Impact of withdrawals on government benefits • Impact of withdrawals on contribution room