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Tax Planning Tips for the Self-Employed

If you are a solo entrepreneur or are otherwise self-employed, you are aware that it is nearly impossible to take into account all the various tax consequences of your business decisions. You have a business to run and customers to please, so decisions are often made on the fly.

You hope that you will be able to sort it out adequately at a later date. The problem with this strategy is you are likely paying thousands of dollars in taxes to Revenue Canada that could otherwise be in your pocket.

A Homebuyers Dilemma

After enduring bidding wars and skyrocketing home prices, would-be homebuyers are facing a relatively new dilemma: jump in to take advantage of lower national average prices or tread cautiously to avoid making a costly mistake.

Pay Yourself First for Financial Success

A fire breaks out in a movie theatre. You're there with your spouse and children, as are several local merchants. Who do you save first? The butcher? The banker? The hardware store owner? Their families? Or your family and yourself?

A ridiculous question. Of course you would save your family and yourself first. Then why don't we use the same principles with our money? All too often the butcher, the banker and the hardware store owner get paid first and little or nothing is left for us.

July in Full Bloom!

Remember when we thought summer would never come? And now it is flying by! We got in the mood early this month with a little patriotic pride for Canada Day.

We have much to be thankful for as Canadians, so we thought this would be an appropriate time to say thank you again … to all of you – our friends, clients, colleagues. We like to say that we work with great people, and well those great people are you! So, thank you for being an important part of our business and world.

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Carruthers Financial

Dealer

Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.