MJ McClain Chartered Professional Accountant
Here is a list of helpful links to CRA Resources for COVID-19 Relief. We hope they are helpful in this challenging time. Canada’s Economic Response Plan Overview My Account Applying for Canada Emergency Response Benefit (CERB) CERB – Question and Answers … Continue Reading
When it comes to the philosophy that the more you put into something, the more you get out, this certainly holds true for Canada Pension Plan (CPP) contributions. This article from RetireHappy.ca walks through what the maximum CPP benefits are and how to get the… Continue Reading
This is a question we are asked often. There are two main reasons for incorporating: Potential to reduce taxes Limited liability The potential to reduce taxes is a legitimate reason to incorporate, but only once you reach a certain level of profitability. If you are… Continue Reading
We always strive to foster great relationships with our clients. We want you to feel confident taking our recommendations. So, here’s a little about me. My name is Melody McClain. I live here in Airdrie with my husband and two kids – my son is… Continue Reading
As a blanket statement, we suggest that sole proprietors keep every receipt and expense absolutely every penny they pay to earn business income. Much of this is obvious. If you’re selling jewelry and you have to purchase the jewelry first…it’s easy to recognize that your cost… Continue Reading
This is a question we get asked frequently at our office. As a sole proprietor, GST is a topic you want to be sure you’re at least aware of. The threshold for mandatory GST registration is $30,000 in sales in four consecutive calendar quarters (not in… Continue Reading
There is much to consider when running a business as a sole proprietor, but taxes don’t have to be overwhelming. We can try to set you up for success and maximize your expenses, tax write-offs, etc. The first thing to recognize with a sole proprietor business is that… Continue Reading
Successful business people want their financial advisors to show them ways to keep their wealth. This article and blog is a great place to start understanding what financial planning can do to help you retire happy. Peter says “Business owners are not looking for financial advisors… Continue Reading
This Payroll calculator will save you time and money from buying a program that does it for you and it is always up to date. The calculator will tell you what you need for completing your Payroll each time. CRA Payroll Calculator. This link will show… Continue Reading
Thinking about retiring? Planning for the inevitable is something that doesn’t have to be complicated or scary. Start now and make a plan. This Retirement Income Calculator will come in handy. The calculator will help you better understand how each pillar of the retirement income… Continue Reading
