Hiring for the following positions if anyone knows anyone looking. We pay more than 90% of agencies that I know of fwiw.

Email & SMS Marketing Strategist: Minimum 3 years experience working in e-commerce retention required. Must be based in North America.

Copywriter: Strong…

The majority of small & mid-size acquisitions in 🇨🇦 are structured as a share purchase because of the beneficial tax treatment from the “lifetime capital gains exemption”

A lot of folks call me asking to incorporate and the first thing I ask is “did you speak to your accountant first?”. This is why! Outside of potential limited liability reasons, whether or not to incorporate is largely tax driven.

About to start a business? Should you incorporate?

When you start a business, you might initially have losses. These business losses can be used to offset other income you have.

So imagine you have a job that pays $100k. You start a business that initially requires $5k of costs…

In 2018, the CRA recovered an average of $137k from small business audits and $337k from medium sized business audits.

You don’t want to be audited.

Rental real estate is unique for tax.

If you sell it for a $100 gain, it’s a capital gain and you’re only taxed on 50%/67% of that gain (depending on the budget). That means you pay approximately 27% to 36% tax on that gain.

If you sell it for a $100 loss, it’s a terminal loss…

In case you missed it:

10 great pieces of personal finance content from April: 🧵

Even if you are expecting a 🇨🇦 tax refund you should file your return to avoid filing penalties if you:

- Sold your principal residence (Up to $8,000 penalty)
- Hold foreign property over $100,000 (Up to $2,500 penalty).

Anyone realizing large capital gains before June 25 needs to know how alternative minimum tax - AMT - works.

Personal tax returns have two parallel tax calculations: regular tax and AMT.

If AMT exceeds regular tax, you pay AMT.

The details are important.

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I recommended that a client maintain their line of credit which currently has an interest rate of 7.7% and save in their TFSA in higher interest savings funds that will pay about 4.5%.

Read on to see why this isn't that crazy. 🧵👇

(story shared with their permission)

Something that may surprise people - Canada Revenue Agency websites have operating hours. Why do they need 3 hours of downtime per day? No idea. But if you get an error message early in the morning or late at night when logging into your account, the issue may not be on your end.

I was quoted in @Advisorca for an article related to how I'm looking specifically at how Federal Budget will impact clients and whether to recommend to them realization of capital gains vs now.

The part of the article I want to focus on though - is the power of collaboration. 👇

I sold my rentals last year.

I was expecting a big tax bill due to the capital gains.

But I ended up with a $4,500 refund.

How?

Partially because of the +1 in the calculation of the principal residence exemption (PRE):

👇

Upon initial scanning, there is nothing that discusses the capital gain inclusion rate...

The draft legislation for the 2024 budget has been released.

A light reading of 660 pages.

fin.canada.ca/drleg-apl/2024…

Happy (personal) tax filing deadline day for those who celebrate!!!