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Infographic illustrating three criteria to qualify for the Lifetime Capital Gains Exemption in Canada. From left to right: a building icon labeled 'Small Business Corporation Test', a calendar with a checkmark labeled 'Holding Period Test', and a silhouette of a person with a red map of Canada overlay labeled 'Personal Residency Requirement'. A subtle silhouette of Canada’s Parliament buildings is in the background.

How to Qualify for the Lifetime Capital Gains Exemption (LCGE) on the Sale of a Canadian InCorporation (CCPC)

23 July 2025 Gaurishanker Puniani Puniani
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Incorporation

Are you a Canadian business owner looking to maximize your profits when selling your corporation? Understanding the Lifetime Capital Gains Exemption (LCGE) could save you thousands in taxes! This valuable tax benefit is designed specifically for shareholders of Canadian-Controlled Private Corporations (CCPCs) and can significantly enhance your financial outcome. In this guide, we’ll walk you through the essential criteria to qualify for the LCGE, ensuring you make the most of your hard-earned gains. Don’t leave money on the table—discover how to navigate the complexities of the LCGE and secure your financial future today!

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Infographic explaining Personal Services Business (PSB) in Canada, showing a professional in business attire alongside icons representing government taxation, a checklist, a pie chart, and financial planning elements. The design highlights PSB rules, tax rates, and business structure considerations.

What Is a Personal Services Business in Canada? Tax Rates, Rules & Strategies

21 July 2025 Gaurishanker Puniani Puniani
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Finance, Individual

Are you curious about how personal services businesses operate in Canada? Understanding the intricacies of tax rates, rules, and strategies can significantly impact your financial success. Whether you're a freelancer, consultant, or contractor, navigating the landscape of personal services can be challenging yet rewarding. Discover the essential guidelines that govern these businesses, learn how to optimize your tax situation, and explore effective strategies to enhance your profitability. Join us as we delve into the world of personal services businesses in Canada and equip yourself with the knowledge to thrive in this dynamic environment!

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Infographic comparing Federal Incorporation, Provincial Incorporation, and Extraprovincial Registration in Canada. Federal Incorporation section shows a courthouse icon with text 'Canada-wide' and 'Greater name protection.' Provincial Incorporation section shows a provincial map icon with text 'One province only' and 'Lower cost.' Extraprovincial Registration section shows a document icon with text 'Register in other provinces' and 'Needed to expand

Federal vs Provincial Incorporation in Canada: What’s the Difference and Which One Should You Choose?

17 July 2025 Gaurishanker Puniani Puniani
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Business Tax-Individual, Corporations Business Tax, Incorporation

When it comes to starting a business in Canada, one of the most crucial decisions you'll face is whether to incorporate federally or provincially. Each option comes with its own set of advantages and challenges that can significantly impact your business's growth and operations. Are you looking for broader market access or a simpler regulatory environment? Understanding the key differences between federal and provincial incorporation can help you make an informed choice that aligns with your business goals. Dive into our comprehensive guide to discover which incorporation route is best suited for your entrepreneurial journey!

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Infographic titled 'RRSP Withdrawal Strategies' showing four illustrated icons with labels: a calculator for 'Low-Income Years,' a bar graph for 'Offsetting Capital Gains,' a house with a dollar sign for 'Home Buyers' Plan,' and a graduation cap for 'Lifelong Learning Plan.' The design uses bold text and a blue, orange, and green color scheme.

RRSP Withdrawals: Smart Strategies to Minimize Taxes and Maximize Gains

15 July 2025 Gaurishanker Puniani Puniani
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Finance, Individual

Registered Retirement Savings Plans (RRSPs) are one of the most powerful tax tools available to Canadians. But most people only...

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Financial documents, calculator, and keys on a wooden table with a hand pointing to a paper labeled 'Loss Carry Back,' representing corporate tax refund strategy and CRA compliance.

How Loss Carry-Back Can Save Your Corporation Thousands: A CRA Strategy You Shouldn’t Ignore

14 July 2025 Gaurishanker Puniani Puniani
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Business Tax-Individual, Finance, Incorporation, Individual

Are you aware that your corporation could potentially save thousands of dollars in taxes? The Loss Carry-Back strategy, endorsed by the Canada Revenue Agency (CRA), is a powerful tool that allows businesses to offset current profits with previous losses. This means you can reclaim taxes paid in prior years, providing a much-needed financial boost. In this article, we’ll explore how this strategy works, the eligibility criteria, and the steps you need to take to maximize your savings. Don’t let this opportunity slip away—discover how to leverage Loss Carry-Back to enhance your corporation’s financial health today!

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Engaged couple holding hands while reviewing financial documents, calculator, and house keys on a table, symbolizing pre-marriage financial planning.

Pre-Nup Financial Talks: What Couples Must Discuss Before Saying “I Do”

13 July 2025 Gaurishanker Puniani Puniani
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Finance, Individual

Engaged couples discussing their financial future—covering student loans, taxes, mortgages, and the importance of involving a professional accountant before marriage.

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Infographic showing 5 costly mistakes new businesses make, including failing to incorporate, choosing the wrong incorporation type, mixing business and personal finances, ignoring legal liability, and DIY-ing corporate tax filings.

5 Costly Mistakes New Businesses Make — and How to Avoid Them

13 July 2025 Gaurishanker Puniani Puniani
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Business Tax-Individual

Starting a new business can be an exhilarating journey, but it’s also fraught with challenges that can lead to costly mistakes. Many entrepreneurs dive in headfirst, only to find themselves facing unexpected hurdles that could have been avoided with a little foresight. In this article, we’ll explore five common pitfalls that new businesses often encounter and provide practical strategies to steer clear of them. Whether you’re just launching your venture or looking to refine your approach, understanding these mistakes can save you time, money, and stress. Read on to equip yourself with the knowledge to thrive in the competitive business landscape!

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Leaving Canada? Here's What to Do with Your FHSA, TFSA, RRSP, and RESP Accounts

Leaving Canada? Here’s What to Do with Your FHSA, TFSA, RRSP, and RESP Accounts

7 July 2025 Gaurishanker Puniani Puniani
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Individual

Thinking of leaving Canada permanently? Don’t overlook your registered accounts. From FHSA and TFSA to RRSP and RESP, non-residency can trigger major tax changes, penalties, and missed opportunities. This expert guide breaks down what to keep, what to close, and how to avoid costly mistakes — plus how Tax4Less.ca Inc. can help you stay compliant every step of the way.

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Universal Basic Income

What Is Universal Basic Income?

7 July 2025 Gaurishanker Puniani Puniani
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Individual

Universal Basic Income (UBI) is a revolutionary concept aimed at providing every adult citizen with a government-funded, unconditional monthly payment. Designed to eliminate poverty and streamline social welfare systems, UBI offers a safety net in today's automated and gig economy. In Canada, the proposed Guaranteed Livable Basic Income (GLBI) could transform lives, with payments tailored to regional living costs. As discussions progress, the potential for pilot projects and national rollout raises questions about eligibility, funding, and the impact on society. Discover how UBI could reshape the future and address rising inequality in our rapidly changing world.

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How to Create a CRA My Account and Authorize Your Accountant

How to Create a CRA My Account and Authorize Your Accountant

5 July 2025 Gaurishanker Puniani Puniani
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Individual

Are you ready to simplify your tax management? Discover how to create a CRA My Account and effortlessly authorize your accountant for full access. With just a few easy steps, you can ensure your tax matters are handled efficiently, allowing your representative to file returns, make account changes, and submit documents on your behalf. Whether you're a sole proprietor or an individual, understanding the levels of authorization is crucial. Don't let tax season stress you out—learn how to set up your account and give your accountant the tools they need to help you succeed!

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