The season of giving offers more than just a chance to spread goodwill—it can also yield significant tax benefits. As we approach year-end, understanding how to leverage charitable donations can enhance both your fiscal health and the well-being of others. Understanding Charitable Tax Deductions Charitable donations can reduce your taxable income, provided they are made
We’re thrilled to announce a significant milestone at Keenans Accounting Service! Aaron Fecht, a distinguished corporate tax specialist with over nine years of experience at Farm Business Consultants Inc., has acquired our firm. This transition marks a new chapter in our journey to empower businesses in Central Ontario with top-tier accounting expertise. A Warm
As the vibrant colours of fall paint Central Ontario, it’s also time for businesses and individuals to focus on year-end tax planning. October is the perfect month to begin preparing your finances to minimize liabilities and maximize returns. This guide will provide you with essential tips to effectively navigate the complexities of the Canadian tax
As the leaves begin to change in Central Ontario, businesses are gearing up for the final push of the year. September marks a perfect time to streamline operations, ensuring that your business not only finishes the year strong but also lays a solid groundwork for the next. Whether you’re dusting off the summer slowdown or
Our Summer Tax Planning Series wraps up with a focus on early preparation for year-end tax strategies. Effective planning can significantly influence your financial outcomes and reduce stress during tax season. Benefits of Early Tax Planning Starting your tax planning early allows for better financial decisions, such as deferring income or accelerating deductions to optimize
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
As we approach the mid-year mark, it’s the perfect time for business owners in Central Ontario to conduct a thorough financial check-up. This mid-year review is crucial for assessing how your business has performed against its financial goals and making necessary adjustments for the remainder of the year. Review Your Financial Goals: Revisit the financial
As the tax filing deadline approaches in Canada, it’s crucial for residents of North Simcoe to understand the potential consequences of not filing on time. Navigating the complexities of Canadian tax law can be daunting, but being informed can help you avoid unnecessary penalties and stress. This article explores what can happen if you miss
As the seasons change, it’s not just our homes that benefit from a thorough spring cleaning. Our finances, too, deserve a fresh start. For individuals and businesses in Simcoe County and the Southern Georgian Bay area, March is an ideal time to review and refresh financial strategies. It’s important to note that while many companies
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