BC’s Finance Minister Carole James delivered the province’s 2020 budget on February 18, 2020
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Entries by CorePlan Financial Inc.
We examine the difference between RRSP and TFSA in the deposit and withdrawal stage.
The 2019 RRSP Tax Savings Calculator
Financial Calendar for 2020- All the deadlines you need to know to maximize your benefits!
2020 Financial Facts for Employees includes Consumer Price Index, Bank of Canada Interest Rate, Federal Income Tax Brackets, TFSA, RRSP, CPP, OAS, Probate Fees, Canada Child Benefit, Registered Disability Savings Plan and RESP Numbers.
If your corporate year end is December 31, it’s a great time to review your business finances. With the federal election over and no major business tax changes for this year, 2019 is a good year to make sure you are effectively tax planning. Please keep in mind that your business may be affected by the recent tax on split income (TOSI) and the passive investment income rules given they came into effect in 2018. These rules can be complicated, please don’t hesitate to consult us and your accountant to determine how this can affect your business finances.
Now that we are nearing year end, it’s a good time to review your finances. With the federal election over and no major tax personal tax changes for this year, 2019 is a good year to make sure you are effectively tax planning.
What happens when the children grow up and they are no longer dependent on their parents? What happens to your other “baby”- the business? Estate planning for business owners deals with the personal and business assets.
As a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place.
We’ve put together an infographic checklist that can help you get started on this.
Retirement planning can be a complex process for us all, but if you are the owner of a small business it may can get even more complicated, due to the various factors and circumstances that you have to take into consideration. A common mistake made by small business owners is reinvesting extra money to grow their business, at the expense of putting it aside to save for their retirement.
CorePlan Financial Inc. Burnaby Office
CorePlan Financial Inc. Fort St. John Office
2 – 11116 100th Ave.
Fort St. John, BC
Phone: (250) 785-9603
Toll Free: 1 (877) 461-5140
Fax: 1 (888) 453-3277
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