CPA4IT
Help to keep your employees on payroll
Canada Emergency Wage Subsidy (CEWS) Applications for claim period 11 (December 20, 2020, to January 16, 2021) are now open. As a Canadian employer who has seen a drop in … Read more
Salary or dividends, how do I pay myself?
The question “How do I pay myself?” has two answers for a small business owner who has set up a corporation; she can pay herself a salary or she can … Read more
Should I deduct my disability and life insurance premiums?
No. Disability insurance premiums should never be deducted against your personal or professional income. Any payments receive from your disability insurance, if properly structured by your insurance agent, should be … Read more
What is the difference between a tax credit and a tax deduction?
A tax deduction saves tax at your marginal tax rate. Your marginal tax rate is the amount of tax you pay on the next dollar of income. A tax credit … Read more
