Our Summer Tax Planning Series continues with a focus on income splitting, a valuable tax planning strategy for families and partnerships in Central Ontario. Understanding how to distribute income among family members or business partners can significantly reduce your overall tax burden. The Basics of Income Splitting Income splitting involves transferring a portion of income
Welcome to the start of our Summer Tax Planning Series! This June, we’re focusing on how individuals and small businesses in Central Ontario can maximize their tax deductions. Understanding what deductions are available and how to properly claim them can significantly reduce your tax liability and boost your financial health. Explore Common Deductions: Many taxpayers