SHARMA & ASSOCIATES tax tips and traps are updated every two weeks,
so check our website every two weeks for free tax tips and traps.
REGISTERED RETIREMENT PLAN - (RRSP)
Contribute maximum to
your RRSP if you have no other option.
To find out how much
you can contribute, take a look at your last years Notice of Tax Assessments.
Call us to review your current years tax and suggest you accordingly.
SALARY VS DIVIDEND
As you know Canada Pension Plan (CPP) rates are skyrocketing and CPP funds
may not be available by the time you reach to your retirement. We have the
solutions for you to reduce CPP contribution and save money in other funds
or plans now for your retirement funds.
Talk to us about the difference between Salary and Dividends, why most businesses would like to pay corporate tax and receive tax free dividends...
If you own company then you have the options to take out money in different ways: