RRSP or TFSA: Which Should You Choose?
Compare RRSP and TFSA savings using current tax rates, future withdrawals, benefit effects and your need for flexibility.
Read detailed article →Flagship resource library
Practical Canadian tax-planning articles
Thirty-one individually written articles focused on common decisions faced by families, employees, self-employed individuals, landlords and owner-managed businesses.
31 articles shown
Salary versus Dividend for an Owner-Manager
A practical salary-versus-dividend comparison covering corporate tax, personal tax, CPP, RRSP room and cash retained in the company.
Read detailed article →Shareholder Loans: Taking Money from Your Corporation
Understand debit shareholder loans, repayment timing, taxable benefits and how to correct personal withdrawals from a corporation.
Read detailed article →When Must a Business Register for GST/HST?
Learn the single-quarter and rolling four-quarter GST/HST tests, registration timing and what changes once small-supplier status ends.
Read detailed article →Rental Income and Expenses for First-Time Landlords
A practical guide to reporting rent, separating repairs from improvements and tracking interest, condo fees and personal use.
Read detailed article →Working Two Jobs: Why You May Owe Tax
Understand duplicate personal credits, payroll withholding and how to avoid a surprise balance when you work for two employers.
Read detailed article →How Much Tax Should a Self-Employed Person Set Aside?
Build a practical reserve for income tax, CPP or QPP and GST/HST without confusing revenue with profit.
Read detailed article →Should You Incorporate or Stay a Sole Proprietor?
Compare tax deferral, liability, administration and personal cash needs before incorporating a Canadian business.
Read detailed article →Home-Office Expenses for a Sole Proprietor
Calculate a reasonable home-office allocation and understand workspace eligibility, shared expenses and carryforward limits.
Read detailed article →How to Prepare for T4 Filing
Reconcile payroll, taxable benefits, CPP or QPP, EI and employee information before preparing T4 slips and the T4 Summary.
Read detailed article →Principal Residence Exemption Explained
Understand designation years, reporting requirements, multiple properties and rental-use complications when selling a home.
Read detailed article →Capital Gains and Capital Losses Explained
Calculate proceeds, adjusted cost base and selling costs, and understand how capital losses can be used.
Read detailed article →Tax-Loss Selling Before Year-End
Use capital losses strategically while avoiding superficial-loss rules, settlement-date errors and unwanted portfolio changes.
Read detailed article →First Canadian Tax Return for a Newcomer
Organize residency dates, pre-arrival income, worldwide income, foreign property values and benefit information for a first Canadian return.
Read detailed article →What to Do After Receiving a CRA Review Letter
Respond to a CRA review with a clear issue-by-issue package, supporting schedules and proof of submission.
Read detailed article →How to Respond to a CRA Notice of Reassessment
Compare the reassessment with the filed return, protect objection deadlines and decide whether to correct, discuss or dispute the change.
Read detailed article →How to Set Up Payroll for Your First Employee
A first-payroll checklist covering worker status, CRA account setup, TD1 forms, deductions, pay statements and remittances.
Read detailed article →Taxable Employee Benefits Employers Often Miss
Review vehicles, allowances, gifts, insurance and personal use of employer property before year-end payroll and T4 reporting.
Read detailed article →Business Expenses Paid Personally by the Owner
Record legitimate corporate expenses paid personally without losing the deduction or confusing the shareholder-loan account.
Read detailed article →Personal Expenses Paid by the Corporation
Understand shareholder benefits, non-deductible costs and how to correct personal bills paid from a corporate account.
Read detailed article →Buy a Vehicle Through the Corporation or Personally?
Compare corporate vehicle ownership with personal ownership and business-kilometre reimbursement.
Read detailed article →Tax Planning After Having a Baby
Coordinate benefit applications, parental-leave withholding, childcare, medical expenses and family cash flow after a new baby.
Read detailed article →Childcare Expense Deduction Explained
Understand who normally claims childcare expenses, qualifying providers, annual limits and supporting receipts.
Read detailed article →Who Should Claim Medical Expenses in a Family?
Choose the medical-expense claimant by comparing income thresholds, tax payable, reimbursements and the 12-month claim period.
Read detailed article →Year-End Tax Planning for Corporations
A corporate year-end checklist covering bonuses, asset purchases, bad debts, inventory, shareholder balances and instalments.
Read detailed article →Business Meals, Travel and Entertainment Expenses
Document business purpose, attendees and limits for meals, travel, conferences and entertainment costs.
Read detailed article →Cryptocurrency Tax Basics for Canadian Taxpayers
Track crypto trades, purchases, staking and mining using Canadian-dollar values and a complete transaction history.
Read detailed article →Tax Instalment Notices: Do You Have to Pay Them?
Understand CRA instalment reminders, permitted calculation methods and how underpayments can create instalment interest.
Read detailed article →How Long Should Tax and Business Records Be Kept?
Build a practical retention system for source documents, electronic records, property history, payroll and ongoing disputes.
Read detailed article →Tax Planning Before Retirement
Coordinate RRSP contributions, pension choices, corporate withdrawals, CPP or OAS timing and future RRIF income.
Read detailed article →Foreign Property and Form T1135 Reporting
Understand the $100,000 cost threshold, simplified and detailed reporting, common exclusions and records to keep.
Read detailed article →Quality over quantity
Only reviewed flagship articles are published
The earlier repetitive pages were removed from the public library and sitemap. Each current article has a distinct structure and topic-specific analysis.