by Nasira Nasim | Oct 1, 2021 | Uncategorized
What is a Personal Real Estate Corporation (PREC) A Personal Real Estate Corporation (PREC) is a corporation specifically for a real estate agent or broker who is trading in real estate. It allows a real estate agent to earn business income through a corporate...
by Nasira Nasim | Sep 7, 2021 | Uncategorized
Deciding whether to take a salary or dividend out of your corporation can be a tricky decision, especially when both have advantages and disadvantages. Effectively weighing the tax and personal consequences is necessary in order to make the best decision....
by Nasira Nasim | Aug 10, 2021 | Uncategorized
Outsourcing or hiring experts may add to your income statement, but it can pay off. A survey by The Alternative Board states that most entrepreneurs spend nearly 70 percent of their time on mundane back-office tasks, such as bookkeeping. Smart business owners focus on...
by Nasira Nasim | Jun 16, 2021 | Uncategorized
What is a TFSA and RRSP? The TFSA is a tax-free account that you contribute to based on after-tax income. On the contrary, a RRSP account is a tax-deferred account that is contributed to with pre-tax dollars. You will pay taxes when money is withdrawn from the...
by Nasira Nasim | May 25, 2021 | Uncategorized
Determining which expenses you are eligible deduct can be confusing at first. There are many different deduction types available, especially for small businesses. Among the most common categories of business expenses are operating, home office, auto and personal....
