If you are serious about building your wealth you need to have a basic understanding of how the Canadian tax system works. The top tax rate in Ontario is 53.53% in 2022. If you don’t plan properly, you can lose a lot of your hard-earned wealth to taxes. This article will give you the basics of personal taxes and get you on your way to saving taxes and building wealth.

When the time is right, most small business owners carry on their business through a corporation. You probably heard of a corporation, thinking about setting one up, or already have one set up and looking to learn more. Well, you came to the right place. After reading this article you will know exactly how to use a corporation to lower taxes and become wealthier faster.

The red hot real estate market in Ontario has made real-estate a popular investment for doctors. In this article we should you how you can get at least $24,000 back from the government on new homes you purchase and rent out to tenants.

TFSAs could be a powerful tool to build your wealth while paying no taxes on investment earnings. In this article, we explain what is a TFSA, how it compares to RRSPs, and how to best use TFSAs to build your wealth.

If you use a holding company to acquire the business, two effective tax planning strategies could grow your wealth quicker. We highlight these two strategies in this article.

If you are a small business owner operating through a corporation, you probably wonder whether paying yourself a salary vs. dividends is better from a tax standpoint. In this post,

RRSPs are a powerful tool for building wealth. The problem is not everyone uses RRSPs to their fullest potential. Once you understand how RRSPs work, you will know exactly how to use them effectively and what types of investments work best inside an RRSP. First, we explain how RRSPs work. Then, we give wealth-building strategies for doctors to reduce taxes using RRSPs.

If you buy a newly constructed home and plan on living in it, you need to pay HST on the purchase. However, if you purchase a used residential property, you

In this article, we outline a way you can split income with your children to save taxes by setting up a trust for the benefit of minor children.

Your children likely earn little to no income while they are minors. Wouldn’t it be nice to have some of your income get taxed in their hands instead of yours? In this article we explain tax strategies to save taxes by using your children’s tax brackets.

As a small business owner in Ontario, you may not have the safety net of a health insurance plan that many large companies offer their employees. At some point, you are likely in the market for a Health Spending Account. There are huge tax benefits for small business owners who set up Health Spending Accounts in their corporations.

Your business may be increasing in value, and you may be thinking of transferring some of that value to your kids or other family members. This will allow you to