Finance News

Relevant tax, accounting, and finance news for businesses, business owners, and professionals.

23
Mar

How to claim home office expenses on your taxes


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On Wednesday of this week I was locked-up in Ottawa with a few hundred other poor souls, reading over the federal budget in advance of Bill Morneau’s budget speech late in the afternoon. It was about as much fun as, well, sitting in my dentist’s chair waiting for a root canal (no offence to my dentist, who is excellent, and

23
Mar

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The Trudeau government says in its 2017 budget that it plans to tighten tax rules that allow Canadians to share income with their spouse and adult children, a measure the small-business sector warns could hurt tens of thousands of family-based enterprises.The Liberals are withholding precise details of this tax clawback until later this year but say it is necessary in

23
Mar

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In the midst of uncertainty surrounding our neighbours to the south, particularly regarding U.S. tax reform, the Liberal government delivered a modest federal budget that is focused on skills training, innovation and how Canada will promote sustainable growth.With high expectations of growing the Canadian economy, the government outlined a forecasted deficit of $28.5-billion, up from $27.8-billion, and laid out a

23
Mar

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There were no real shockers in yesterday’s federal budget, but even so, the Liberal government’s intense focus on innovation is certainly welcome news to Canada’s startup sector. The government will focus on building “superclusters” of innovative industries, where private-sector companies can compete for some of the (mostly previously announced) $950 million in funding. The sectors mentioned are advanced manufacturing, agri-food,

22
Mar

Blueberries please, but hold the chemical solvents


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Buying blueberries can be a leap of faith. You can only hope they come from a reasonably environmentally friendly farm.But people further enticed by the so-called super-ingredients in blueberries – anthocyanins – need to take an even bigger leap of faith. The label on the supplement bottle may be bright and clinical-looking, but there’s little that says how the ingredient

21
Mar

Self-employed? Get into the habit of putting cash away


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When Corinne Contant began her professional career as a dentist 20 years ago she, like many self-employed individuals, found that there were certain years when investing in the growth of her practice needed to take precedence over socking away retirement funds.But Dr. Contant, who established a registered retirement savings plan at age 26, never lost sight of her retirement needs,