Entries by Angela Richardson

Corporate Tax Strategy Considerations

Behind every small to medium enterprise is a person. Does your corporate tax strategy consider the person that is the entrepreneur? A tax strategy should consider both the corporate tax AND personal tax implications. What mix puts the most dollars in your jeans at the end of the day? Open and honest communication with your […]

How to avoid the Crash and Burn

You are officially caught on CRA’s radar… CRA is auditing or reviewing your information Your filings have been arbitrarily re-assessed The collections department is harassing you No matter what the reason, dealing with the Canada Revenue Agency (CRA) can be extremely stressful. Here are some tips to help ease that CRA audit pain. What are your responsibilities? […]

Tips for Staying Under Canada Revenue Agency Radar

Tips for Staying Under Canada Revenue Agency Radar If you’re a taxpayer in Canada, you’re likely familiar with the Canada Revenue Agency, commonly known as the CRA. The CRA is responsible for the administration of taxes, benefits, and other related programs in Canada. As a taxpayer, it’s important to understand how the CRA operates, what […]

Top 9 Mistakes Entrepreneurs Make When Trying to Buy a Home

I have often heard from entrepreneurs that it is difficult to obtain a mortgage to buy a home. Business owners can be viewed as a higher risk than the typical employee. As a result, obtaining financing at a preferred mortgage rate is challenging. Here is a list of my favourite mistakes to avoid: 1. Failing […]

2020 RRSP Contribution Deadline Tips

It’s everyone’s favourite time of year – Tax Time! This is the time of year where you get to enjoy putting together your documents and filing tax returns! Or if you are a client of Richardson Miller LLP, we do the heavy filling for you. For those who contribute to their RRSPs, the deadline is […]

Top Six Tips for Negotiating Your Commercial Lease

Negotiating and signing your commercial lease can be a substantial investment for your business. It’s critical that you’re aware of what you are committing to. While it’s tempting to save the professional fees on this process, a poorly written lease can end up costing you thousands more in the end. The Accountant Perspective Can Help […]

Salary versus Dividends

The ongoing discussion of Salary versus Dividends has got to be one of the oldest debates since the dawn of complex taxation. Over the years, I’ve heard many people (accountants included) preach that dividends are the way to go. I cringe at these “one size fits all” solutions. Salary versus Dividends – how to choose […]

Covid Holiday Parties

How does Covid-19 Impact Your Company Holiday Plans? December 2020 corporate celebrations will be drastically different than previous years. Would you typically host a party for your staff and their spouses? These types of events are either going to be: 1. Illegal due to size restrictions, or 2. Not a wise business decision if your […]

Creative Gifts for Employees

The holiday season is fast approaching. With 2020 providing us ample opportunity for re-evaluating our values and priorities, have your corporate holiday plans changed? What are your plans for gifting to your employees? Here are the rules: Canada Revenue Agency allows you to give your employees gifts costing up to $500 annually without tax consequence […]

Covid Thoughts

Jazz Hands. That’s right. No auto-correct here—I meant it. With many cities implementing mandatory masks in public, we are missing out on a significant portion of our non-verbal communication options. Many of us can admit to over exaggerating our squinty eyes in attempts to convey that we are in fact smiling. Since Covid-19 is apparently […]