A Guide to Building a Strong Credit Score: Unlocking Financial Success

Having a solid credit score is crucial in today’s financial world. It opens doors to buying a home, getting loans with favorable terms, and more. Your credit score reflects how trustworthy you are with credit, and knowing how to build and maintain a healthy score is vital for your financial well-being. Tips for Building Your […]

Alberta Budget 2024: A Comprehensive Overview for Businesses and Families

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The newly released Alberta Budget for 2024 aims to place a strong emphasis on healthcare, education, family assistance, and community safety. Investing in Jobs and the Economy A number of initiatives are introduced in Budget 2024 for companies and the economy. With a $5,000 refundable tax credit, the Alberta is Calling attraction bonus seeks to draw […]

Canadian Interest Rates Q2 2024: April 1-June 30, 2024

Canada Emergency Business Account (CEBA) Loan – Additional $20,000 for Small Businesses

The Canada Revenue Agency (CRA) has announced prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to both individuals and corporations. These rates are in effect from April 1 to June 30, 2024. Income Tax Interest Rates Q2 2024 The interest rate […]

Understanding Joint Tenancy vs. Tenancy in Common: Key Considerations in Property Ownership

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Understanding the differences between joint tenancy and tenancy in common is critical when owning property with someone else. These two types of ownership have unique rights and implications, particularly in situations like estate planning. Joint Tenancy vs. Tenancy in Common: What’s the Difference? Imagine a scenario where two individuals co-own a property, each holding a 50% […]

Simple Profit Improvement Strategies for Your Business | The Power of One

Every Success Story Starts With a Dream

If increasing profit is one of your business goals, there are simple strategies you can implement to help you get there. The Power of One is a profit improvement tactic that helps you increase profit by adjusting specific metrics by as little as 1% or a factor of one. Simple Profit Improvement Strategies: The Power […]

Proactive Tax Planning for Business Owners

Canada Emergency Business Account (CEBA) Loan – Additional $20,000 for Small Businesses

KWB is excited to share that in 2023, we saved our clients over $9 million in taxes through the ongoing and advanced tax planning strategies that we implement with our clients. As a result of some time-sensitive tax savings opportunities that were changing at the end of 2023, and to ensure our clients optimized their […]

2024 Canadian and Albertan Tax Brackets and Rates

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What Are Tax Brackets?                                      The Canada Revenue Agency collects federal income taxes using a marginal tax rate system. A different tax rate is applicable to each level of income, and these levels are called tax brackets. Tax brackets are structured so that low-income Canadians pay a lower percentage in taxes than high-income Canadians. Changes are […]

How to Generate More Cash and Achieve Greater Profit for Your Business

Every Success Story Starts With a Dream

As a business owner, you know that maintaining and improving your financial health is key to the success of your business. Whether you’re looking to minimize your personal and business taxes or increase your profits, working with an advisor who specializes in profit improvement strategies can be a game-changer. If you’re looking to increase your […]

Integrated Tax and Financial Planning for Your Business and Yourself

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The overall financial health and success of your business will be greatly improved through integrated planning that considers your current circumstances, your long-term goals, and the opportunities that are available to you. Experience elevated accounting and advisory support that offers you meaningful financial reporting and guidance to optimize your tax savings, profit, and income. With […]

CRA Instalment Payments: Interest vs. Penalties

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Required Tax Instalments for Individuals To avoid interest charges, you have to pay tax instalments to Canada Revenue Agency (CRA) if your net tax owing in either of the two previous years was more than $3,000. This can happen if your income does not have the appropriate amount of tax withheld, or if you are […]