Health Spending Accounts vs. Lifestyle Accounts: What’s the Difference?

Health Spending Accounts vs. Lifestyle Accounts: What’s the Difference? When it comes to employee benefits, many businesses are exploring ways to add flexibility and value beyond traditional health insurance. Health Spending Accounts (HSAs) and Lifestyle Accounts are two popular options that provide employees with discretionary funds for specific types of expenses. But what’s the difference…

Understanding Cost Share

Understanding Cost Share in Employee Benefits: Balancing the Premiums When managing an employee benefits plan, one key factor often goes overlooked: cost share. Cost share defines how the premiums for benefits are split between employees and employers. Surprisingly, for small to mid-sized companies, this component can make a substantial difference in how benefits are perceived,…

The Why for your Employee Benefits

When it comes to employee benefits, the real question isn’t about cost. Instead, it’s about understanding why you offer a benefit plan in the first place. Too often, companies get caught up in budget discussions, focusing on what the plan costs without fully appreciating the purpose behind it. But without a clear sense of purpose,…

2024 Federal Budget Snapshot

On April 16, 2024, the Minister of Finance tabled the 2024 Federal Budget. While no changes were made to the federal personal or corporate tax rates, there are some key changes to be aware of: Effective June 25, 2024, the inclusion rate on any capital gains in a corporation or trust will increase from 1/2…

Should Your Marketing Strategy Include TikTok?

It’s no secret… We have to start paying attention to video in our marketing strategies, people. TikTok has emerged as a powerhouse platform, capturing the attention of millions worldwide. But the burning question for many entrepreneurs is: should your business take the leap into TikTok? Let’s cut through the noise and look at some critical…

4 Professional Development Books You Should Read in 2024

In 2024, the entrepreneurial journey is as thrilling as it is challenging. On our own bookshelf, we’ve gathered four books that stand out as beacons for entrepreneurs navigating this year’s unique landscape. These aren’t just any books; they’re our personal picks, chosen for their ability to offer fresh perspectives, actionable strategies, and the inspiration to…

Everything You Need to Know About Bare Trusts (2024)

Recent amendments to the Income Tax Act have introduced significant changes for bare trusts, particularly in terms of reporting beneficial ownership information. Historically, bare trusts were exempt from filing a T3 Return. However, the landscape has shifted. Now, with few exceptions, bare trusts are mandated to submit a T3 Return annually. This is required even…