If you’re self-employed, you’re responsible for reporting your own income—unlike employees who receive a T4. The good news is, self-employed individuals can claim a wide range of business-related expenses to […]
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Incorporating a Business vs. Self-Employment in Canada: Which is Right for You?
Whether you choose to incorporate a business or remain self-employed, business-related expenses can be deducted from your pre-tax income, reducing your taxable income. However, each option has its pros and […]
EI Maternity and Parental Benefits: How They Are Taxed in Canada
EI Maternity and Parental Benefits: How They Are Taxed in Canada Having a baby is exciting, but the tax side of Employment Insurance (EI) maternity and parental benefits catches many […]
Student Loan Interest Tax Credit: How to Claim It in Canada
Student Loan Interest Tax Credit: How to Claim It in Canada If you are repaying a student loan in Canada, the interest you pay may qualify for a federal and […]
RRIF Withdrawal Strategies: How to Minimize Tax in Retirement
RRIF Withdrawal Strategies: How to Minimize Tax in Retirement You spent decades building your RRSP. Now that you have converted it to a Registered Retirement Income Fund (RRIF), the way […]