by Roberto Belingueres | Nov 22, 2021 | Advisory, Articles & Publications, Taxes
Do corporate loans count as taxable income? When shareholders or employees borrow money from a corporation, that money is generally considered taxable income. But this rule, like many CRA rules, has exceptions. Many shareholders and employees borrow funds from their...
by Roberto Belingueres | Nov 21, 2021 | Advisory, Articles & Publications, Taxes
Beware of using your corporation’s income to pay personal expenses. Suppose you own an incorporated business or professional corporation. In that case, it can be pretty tempting to pay for various personal expenses out of your corporation’s income, but...
by Roberto Belingueres | Nov 21, 2021 | Advisory, Articles & Publications, Taxes
Principal Residence Rules Since 1982, each family unit (including you, your spouse or common-law partner, and any unmarried kids under the age of 18) has been able to designate one property as its principal residence for each calendar year. To simplify the...
by Roberto Belingueres | Oct 15, 2021 | Advisory, Articles & Publications, Taxes
Drawing from your RRSP/RRIF and non-registered investments. It often helps to think in terms of family wealth and tax efficiency. One of the most asked questions the newly retired or those about to retire have is: “When should I start drawing from my registered...
by Roberto Belingueres | Oct 15, 2021 | Advisory, Articles & Publications, Taxes
Strategies to consider when buying a second property. There are three common types of second properties people are looking at when they wish to buy a second property: cottages, income properties and U.S. real estate. COTTAGE PROPERTIES If you’ve been looking to...
by Roberto Belingueres | Sep 25, 2021 | Advisory, Articles & Publications, Startups, Taxes
Tax Advantages of Incorporating your Business in Canada Incorporating your business may lead to lower taxes depending on your particular situation and the province in which you operate. Incorporating can save you money once the business generates more income than you...
