Paula Bax Professional Corporation
165 Evansdale Landing NW T3P0C7 Calgary, AB, Canada

We're in Fort McMurray this weekend for the 2016 Christmas Show and Market at MacDonald Island. Stop by our booth and grab a complimentary vehicle logbook. There are also games with prizes for the kids!

If you own your own business and find yourself wondering "Is this purchase deductible?" Here is a link to an easy to understand web page for some of the common deductible costs accepted by CRA. These deductible costs are approved for corporations as well as sole proprietors. http://www.cra-arc.gc.ca//tpcs/sl/bsnssxpnss/menu-eng.html

With the Holiday Seasons upon us, people may be concerned about overspending, especially considering the vast changes to our personal taxes on the Provincial and Federal Levels. Here is a link to a great page, showing not only the new brackets for Alberta, but also a table showing the extra taxes in dollars for each circumstance: Keeping in mind, 2015 was a transition year (prorated) http://www.finance.alberta.ca//personal-income-tax-questio... And these are what the Federal brackets look like for 2015 & 2016: 2016 shows the addition of a 33% bracket ($200,000+) and a reduction from 22% to 20.5% in the $45,282 to $90,563 bracket. http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html (2016) http://www.cra-arc.gc.ca/E/pbg/tf/5000-s1/5000-s1-15e.pdf (2015, 2nd page)

Starting in 2016 the Federal Government is increasing the Small Business Deduction (SBD), effectively reducing the Net Tax for small businesses. With major changes happening to both Federal and Provincial (Alberta) personal taxes, Comprehensive Tax Planning can dramatically impact the amount of taxes you pay. Learn how to use the taxation system to your benefit, give us a call. http://www.cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/rts-eng.html