Odessey Business Services

There are a few ways an owner can draw wages or withdraw money from the incorporation and they can be combined. The tax consequences vary for personal and corporate taxes depending on the method chosen.

Here is a bit of an organizing list to get your small business taxes ready to go.

Home renovations can represent a smart investment in the long-term value of a home and generate broad-based economic activity. They can also reduce energy consumption and the long-term cost of owning a home. To support economic growth during these challenging times, Budget 2009 proposes to introduce a temporary Home Renovation Tax Credit (HRTC). The HRTC [...]

Well the new Canadian Economic Budget was released and there is a lot of reading in it. I saved you the time and this is to let you know some key points that will affect you, the basic taxpayer for your 2009 tax filing. So keep scrolling, till a headline catches you.

Some things to know about the new Tax Free Savings Account (TFSA).

Here is your yearly tax update.

Getting organized for taxes always sounds like such a big undertaking, but if started now and done in small doses, your business receipts will be done in lots of time for your tax preparer.