Capital Loss and Non-Capital Loss: Carry Forward and Carry Back
April 7, 2023
Most individuals and small businesses will inevitably face a financial loss at some point. The term “loss” can refer to
Accounting and Financial Resources
When it comes to accounting and taxes, the more you know, the better you can manage your finances! WTC has the resources you need to understand accounting, the Canadian tax system and maximize your returns.
Charging GST/HST for Out of Province Sales and Foreign Clients
March 31, 2023
Do you have customers who live outside of your province or outside of Canada? If so, you may be asking
Underused Housing Tax (UHT) in Canada: What You Need to Know
March 4, 2023
On June 9, 2022, the federal government enacted the Underused Housing Tax (UHT) Act which applies to all Canadian residential
Company Vehicle: Leasing or Buying a Car Under a Corporation
February 19, 2023
As a business owner, the decision to buy or lease a vehicle under a corporation in Canada can be complicated
How Much Do Accountants and Bookkeepers Cost for a Small Business?
February 5, 2023
Small business owners can often feel overwhelmed when it comes to managing finances. Keeping track of assets, liabilities, income, expenses,
Filing Corporate Taxes for Business: Here’s What You Need to Know
January 29, 2023
Filing corporate taxes for your business in Canada can be a daunting task. With the ever-changing tax laws and regulations,
Know the Rules on How Long to Keep Tax Records in Canada
January 22, 2023
When it comes to taxes, Canadians have a responsibility to keep accurate and complete records. Knowing how long to keep
20 Most Common Small Business Tax Deductions and Write-Offs
January 15, 2023
As a small business owner, you are constantly striving to find ways to either save money or increase profits while
Salary vs Dividends: How to Pay Myself from My Business
January 9, 2023
As a business owner, one of the key decisions you need to make is how to pay yourself. The two
Should I Incorporate My Business? Benefits of Incorporating in Canada
January 3, 2023
Incorporating a business in Canada has various pros and cons. For entrepreneurs looking to start or expand their businesses, understanding
Income Splitting in Canada: 7 Strategies to Maximize Your Savings
December 30, 2022
Income splitting is a powerful tool that has been around for some time and can have favourable impacts on tax
Benefits and Risks of Setting Up a Holding Company in Canada
December 28, 2022
A holding company, commonly known as “Holdco,” offers benefits ranging from tax optimization to minimizing risk. It can also be
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WTC has the resources you need to understand accounting, the Canadian tax system and maximize your returns.