Life insurance policies can be tricky to understand, especially when it comes to how they affect your taxes. According to a recent study from ValuePenguin, 50% of Americans believe they can write off their auto, health, home or life insurance policies as tax deductions. Most often, however, life insurance premiums and proceeds are not tax deductible. Still, there are a … [Read more...] about How Life Insurance Impacts Your Taxes
Taxes
6 Reasons to Hire a Tax Reduction Planner
As a business owner, you have strategies for every aspect of your company: marketing, sales and expansion. But do you also plan to file taxes on time? A successful business is run with passion and dedication but without a strategy in place - it may be difficult to expand or even keep open! You strategically map out everything from the moment one enters "business mode" yet … [Read more...] about 6 Reasons to Hire a Tax Reduction Planner
4 Reasons Why You Should Outsource Your Finances and Tax Returns
Are you a business that is struggling to keep up with your finances? You are certainly not the only one! According to SEMRush, 66 percent of small businesses tend to experience financial challenges. Additionally, 43 percent of such businesses find paying their operating expense to be the biggest obstacle. Considering that most businesses go under due to cash flow, … [Read more...] about 4 Reasons Why You Should Outsource Your Finances and Tax Returns
Do I Have To Declare Foreign Income In Canada?
If you are a Canadian resident, you must declare all your income sources, including the money earned abroad, when filing your tax returns. Income earned from outside the country can complicate your taxes more. So, it’s vital to know and understand the rules. When it comes to foreign income declaration, the rules vary slightly for Canadian non-residents. For that reason, it’s … [Read more...] about Do I Have To Declare Foreign Income In Canada?
How to Find the Right CPA for You at an Affordable Price
When you think about the many important relationships that you have or would like to have, you probably don’t include your accountant in your list. But the truth is that finding a CPA who is a good match for your needs and with whom you can establish a solid rapport and understanding can make a real difference in your financial confidence. Working with a knowledgeable … [Read more...] about How to Find the Right CPA for You at an Affordable Price