About Darren

If you are starting a new business in Canada or are operating one already, then this article is for you. Types of business structures The type of structure you choose has a significant effect on the way you report your income, the type of returns you file each year, and many other matters. The three […]

If you have sold your home and it is your principal residence then you should be able to use the principal residence exemption to reduce or eliminate any capital gain for income tax purposes on the sale of the property. CRA states that a principal residence can be a house, cottage, condominium, apartment, trailer, mobile […]

An RESP is an education savings account that is registered with the Government of Canada that helps you save for a child’s or grandchild’s post-secondary education. With an RESP, you may be able to receive other saving incentives, such as the: Canada Learning Bond Basic and Additional Canada Education Savings Grant There are two different types […]

What’s the difference between eligible and non-eligible dividends?  What are the implications to you? Dividends are payments made to shareholders to allocate the earnings of a corporation.   There are two types of taxable dividends that a corporation can issue, non-eligible and eligible. non-eligible dividends are taxed at approximately 10% more than an eligible dividend Non-eligible […]

Terrible devastation caused by flooding or fires is a potent reminder that one should not delay planning for disasters in advance. Learn how to approach designing your own Disaster Recovery Plan (DRP).

What if you knew the impact of an important decision before you made it? Could you and your business benefit from this “what if” strategic planning? You would be able to look at the potential outcome and financial impact of business decisions before they are made. At KWB we use software called Profit Driver to […]

If one of your New Year’s resolutions was to save more money, then the Tax-Free Savings Account (TFSA) may be a good option for you to use. Learn more about the TFSA rules and limits.

RRSP’s can be a simple concept but they are also governed by some complex rules. Learn more about how your annual contribution limits are calculated and what to do if you have over contributed.

On July 31, 2015 legislation in Alberta came into effect that will govern all professional accountants under one organization and one brand:  Chartered Professional Accountants or CPA for short. Prior to this change, you would have found Chartered Accountants (CA’s), Certified Management Accountants (CMA’s) and Certified General Accountants (CGA’s) all practicing in Alberta.  Although this […]

Beginning in July of 2014, Canadian financial institutions will be required to start gathering and reporting information on accounts held by U.S. residents and U.S. citizens, including those who are resident of Canada. The account information will be collected and reported to the Canada Revenue Agency (CRA), who will then transfer the information to the […]

The following checklist has been prepared to assist you with the steps required and other points to consider when setting up your business. This checklist is not all encompassing, but one tool to help identify key issues that need to be addressed and considered. In addition, we recommend reading Canada Revenue Agency’s (CRA’s) guide “RC4070 […]

Do you know someone who has lost critical and precious information that was stored on their computer? Are there things on your computer that you don’t want to lose such as financial or business records or personal information like family photos? We live in a digital world and we don’t have hard copies of anything […]

We would like to remind our clients that for the majority of Canadians, your personal income tax returns normally need to be filed by April 30. If you haven’t already brought us the information we need to prepare your return, we would ask you to do so shortly. CRA has extended the filing and payment […]

Are you interested in what is happening with interest rates in the U.S.? Here is a quick and easy to understand summary.

I recently read an excellent article about a rare economic occurrence that was happening this past June. To help you find out more about this rare economic occurrence, here is the full article prepared by Wealth Stewards Portfolio Management Inc. (WSPM)

What is the value of advice? When it comes to portfolio management, the overall value of the advice can be measured by comparing the performance of one portfolio over another in a specific amount of time. However, when it comes to wealth management, the overall value of the advice discussed regularly with clients is much more difficult to measure. Read on to see some real life examples of the value of the advice given.