Tag Archives: taxes

What is CPP2 and how will it affect my taxes?

CPP2 affect my taxes

Have you heard about the recent introduction of the Canada Pension Plan 2 (CPP2)? If you haven’t, it’s time to pay attention. Did you asked yourself, how will the CPP2 affect my taxes? The CPP rates have been revised and an additional rate has been introduced, which means your contributions and benefits may be affected. …

Why you NEED to tell your accountant before you take money out of your corporation

right way to take money out of your business

There is a right way and a wrong way to take money out of your business.

The “wrong way” is to simply withdraw cash from your business bank account. It’s not wrong because it’s punishable by the Gods or the law enforcers, but it can result in a punishingly high tax bill. It can also …