Blog

On the heels of ringing in the new year here in Grande Prairie, come changes from the Federal Government that will affect the personal financial planning of Canadians for the year ahead. Although increases in source deductions may reduce take-home pay, increases to...

Cash flow management is essential for the livelihood of any business here in Grande Prairie and in Canada’s dynamic economic landscape. Whether a business is just starting or it’s time to optimize existing operations, implementing effective strategies to enhance cash...

The Federal budget has our local Grande Prairie investors and business community making noise. While increases to the Lifetime Capital Gain Exemption are welcomed, changes to the Capital Gains Inclusion Rate may hit harder for those looking to make a disposition after...

Optimize your capital gains and losses by using a Capital Dividend Account (CDA) to distribute tax-free dividends and keep more of your hard-earned money. When used appropriately, even small businesses here in Grande Prairie can significantly reduce their tax burden...

While many of our neighbours here in Grande Prairie, Alberta, may have just put away their personal tax returns from 2023, there are many small businesses with fiscal year ends that don’t line up with the calendar year. As a business owner, there are cash management...

Grande Prairie is known for its entrepreneurial spirit. If you’re interested in launching a new idea, or you’ve grown your reputation as a solopreneur, your next step to contemplate could be incorporation. To determine if incorporation is the right choice for your...

Grande Prairie is home to some of the highest rates of entrepreneurship. Being in the finance industry ourselves, the team here at McNabb Lucuk LLP understands how crucial bookkeeping is in running a financially responsible business. By systematically recording and...

As independent business owners ourselves, our team here at McNabb Lucuk LLP in Grande Prairie takes pride in the growth of our community every time we see a new corporation launched. This desire for self-employment and business ownership expands across industries...

As Canadians begin collecting tax documents and preparing for annual filings, more will be reporting on trust arrangements thanks to new reporting requirements from the Canadian Revenue Agency. In this month’s blog, we’ll summarize what a trust is, what the reporting...

Creating a will makes a financial plan for the distribution of your wealth. It ensures the assets you’ve worked hard to build are distributed according to your wishes. However, there are a few common questions and misconceptions that we’ve seen keep many people in...

If you’re a business owner in Grande Prairie, understanding shareholder loans can be a key part of smart tax planning. When used correctly, shareholder loans can be a flexible financial tool for tax planning. However, if they are misused, they can trigger penalties...

Every expense affects multiple areas of your business finances.Understanding how much of each expense is tax deductible allows business owners to be strategic in their spending. This not only helps save money at tax time from hosting holiday and company events, but can...

On the heels of ringing in the new year here in Grande Prairie, come changes from the Federal Government that will affect the personal financial planning of Canadians for the year ahead. Although increases in source deductions may reduce take-home pay, increases to...

As Canadians begin collecting tax documents and preparing for annual filings, more will be reporting on trust arrangements thanks to new reporting requirements from the Canadian Revenue Agency. In this month’s blog, we’ll summarize what a trust is, what the reporting...

Grande Prairie is known for its entrepreneurial spirit. If you’re interested in launching a new idea, or you’ve grown your reputation as a solopreneur, your next step to contemplate could be incorporation. To determine if incorporation is the right choice for your...

The Federal budget has our local Grande Prairie investors and business community making noise. While increases to the Lifetime Capital Gain Exemption are welcomed, changes to the Capital Gains Inclusion Rate may hit harder for those looking to make a disposition after...

If you’re a business owner in Grande Prairie, understanding shareholder loans can be a key part of smart tax planning. When used correctly, shareholder loans can be a flexible financial tool for tax planning. However, if they are misused, they can trigger penalties...

As independent business owners ourselves, our team here at McNabb Lucuk LLP in Grande Prairie takes pride in the growth of our community every time we see a new corporation launched. This desire for self-employment and business ownership expands across industries...

While many of our neighbours here in Grande Prairie, Alberta, may have just put away their personal tax returns from 2023, there are many small businesses with fiscal year ends that don’t line up with the calendar year. As a business owner, there are cash management...

Cash flow management is essential for the livelihood of any business here in Grande Prairie and in Canada’s dynamic economic landscape. Whether a business is just starting or it’s time to optimize existing operations, implementing effective strategies to enhance cash...

Creating a will makes a financial plan for the distribution of your wealth. It ensures the assets you’ve worked hard to build are distributed according to your wishes. However, there are a few common questions and misconceptions that we’ve seen keep many people in...

Grande Prairie is home to some of the highest rates of entrepreneurship. Being in the finance industry ourselves, the team here at McNabb Lucuk LLP understands how crucial bookkeeping is in running a financially responsible business. By systematically recording and...

Optimize your capital gains and losses by using a Capital Dividend Account (CDA) to distribute tax-free dividends and keep more of your hard-earned money. When used appropriately, even small businesses here in Grande Prairie can significantly reduce their tax burden...

Every expense affects multiple areas of your business finances.Understanding how much of each expense is tax deductible allows business owners to be strategic in their spending. This not only helps save money at tax time from hosting holiday and company events, but can...

On the heels of ringing in the new year here in Grande Prairie, come changes from the Federal Government that will affect the personal financial planning of Canadians for the year ahead. Although increases in source deductions may reduce take-home pay, increases to...

While many of our neighbours here in Grande Prairie, Alberta, may have just put away their personal tax returns from 2023, there are many small businesses with fiscal year ends that don’t line up with the calendar year. As a business owner, there are cash management...

As Canadians begin collecting tax documents and preparing for annual filings, more will be reporting on trust arrangements thanks to new reporting requirements from the Canadian Revenue Agency. In this month’s blog, we’ll summarize what a trust is, what the reporting...

Cash flow management is essential for the livelihood of any business here in Grande Prairie and in Canada’s dynamic economic landscape. Whether a business is just starting or it’s time to optimize existing operations, implementing effective strategies to enhance cash...

Grande Prairie is known for its entrepreneurial spirit. If you’re interested in launching a new idea, or you’ve grown your reputation as a solopreneur, your next step to contemplate could be incorporation. To determine if incorporation is the right choice for your...

Creating a will makes a financial plan for the distribution of your wealth. It ensures the assets you’ve worked hard to build are distributed according to your wishes. However, there are a few common questions and misconceptions that we’ve seen keep many people in...

The Federal budget has our local Grande Prairie investors and business community making noise. While increases to the Lifetime Capital Gain Exemption are welcomed, changes to the Capital Gains Inclusion Rate may hit harder for those looking to make a disposition after...

Grande Prairie is home to some of the highest rates of entrepreneurship. Being in the finance industry ourselves, the team here at McNabb Lucuk LLP understands how crucial bookkeeping is in running a financially responsible business. By systematically recording and...

If you’re a business owner in Grande Prairie, understanding shareholder loans can be a key part of smart tax planning. When used correctly, shareholder loans can be a flexible financial tool for tax planning. However, if they are misused, they can trigger penalties...

Optimize your capital gains and losses by using a Capital Dividend Account (CDA) to distribute tax-free dividends and keep more of your hard-earned money. When used appropriately, even small businesses here in Grande Prairie can significantly reduce their tax burden...

As independent business owners ourselves, our team here at McNabb Lucuk LLP in Grande Prairie takes pride in the growth of our community every time we see a new corporation launched. This desire for self-employment and business ownership expands across industries...

Every expense affects multiple areas of your business finances.Understanding how much of each expense is tax deductible allows business owners to be strategic in their spending. This not only helps save money at tax time from hosting holiday and company events, but can...