by philad | Oct 26, 2024 | Blog
What is a Personal Service Business (PSB)? A PSB is a type of business designation under Canadian tax law that applies to Canadian corporations that provide services through individuals (specified shareholders) who would likely be considered employees if they were not...
by philad | Oct 18, 2024 | Blog
A Registered Retirement Savings Plan (RRSP) is a tax-advantaged investment account that allows Canadians to save for retirement. Understanding the tax implications and consequences of overcontributing to an RRSP is crucial, as they can positively and negatively affect...
by philad | Oct 5, 2024 | Blog
Failure to file corporate tax returns (T2) in Canada can have significant financial, legal, and reputational consequences. The CRA imposes penalties, interest on unpaid taxes, and potential loss of tax credits and refunds. Legal actions can include asset seizure,...
