Tax Tip Thursdays with The Mad Accountant on 105.5 HITS FM
We are on the radio every Thursday morning at 8:10, with Morning Den host Dan Pollard, giving YOU our latest tax tips. You can listen to highlights and full episodes below, and even engage in discussion with us using the blog posts at the bottom of the page. Hear something you like? Please don’t hesitate to give us a call.
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TTT: Personal Services Business
Running your business as a corporation has lots of benefits, but it exposes you to significant risk if you only have a small number of clients. If you meet certain requirements, you could be classified as a PSB, resulting in paying nearly 45% in corporate tax!
Special Post: CEBA Repayment Extension Confirmation Example
Are you getting an extension on your CEBA loan repayment? If you are or think you have, you should receive a confirmation that looks something like this one.
TTT: CEBA Loans and Revised Deadline
CEBA Loans just got a revised deadline. You've got lots of time, but what if you still can't make it? You could end up owing tens of thousands of dollars! Take advantage of the revised deadline and save big.
TTT: Know Your Income and Tax Liabilities
Last week discussed legal income splitting with your partner to save on taxes. This is all great, but if you wait until the end of the tax year it will be too late! Get a head start on your tax preparation today to save as much as you can.
TTT: Four Ways to Split Your Income with Your Partner
Splitting income with your partner can be very beneficial in a lot of different ways! Are you taking advantage of it correctly? Find out which way works best for you.
TTT: How Flipping Your House Can Flop
Do you like to flip houses? It can be an excellent source of income, but the CRA has been proposing a number of changes that could affect you. Make sure you're prepared!
TTT: CEBA Payments & HST Planning
CEBA loan repayments have been extended for some businesses. But who's eligible? Are there any penalties for using the extension? What about HST payments -- how often do I have to make those? All those answers and more are a click away...
TTT: The First Home Savings Account
Do you own a house? Fantastic news for you if you don't yet. The government has announced a brand new registered, tax-free savings plan for you to save up to buy one! It's not in effect yet, but here's what we know so far.