Testimonials

Sean Conlin

“Before working with Williamson Accounting, I was having a hard time finding an accounting professional that I could trust and get along with, but at Williamson Accounting, they are great. I can count on them for anything. Now I have peace of mind when I think about the financials of my business. They provide me with worry free service, are very professional, and friendly too. They took time out to understand my business and needs, listened to all my ideas and provide me with great service overall.”

Sean Conlin, President, Demand Sprinkler Design Inc.

 

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Williamson Accounting Inc. helping your small business to reduce taxes and simplify accounting in the Greater Toronto Area (GTA) and across Canada.

For a free initial conversation about your business, call (416) 444-8747 or Contact us.

How will the New Government Affect your Taxes?

Income tax

Depending on your tax bracket, the new government may either cost you or save you big bucks. 

Here are some of the Liberals’ promised tax changes and what they mean to you- When these promised will take effect is currently uncertain:

Lower Taxes for Middle Class
The Liberals as stated that their first priority will be to cut the tax rate from 22 per cent to 20.5 per cent for the middle income tax bracket, which affects Canadians with taxable annual income between $44,701 and $89,401. There is some speculation that this could be done retroactively to the beginning of 2015, but more than likely, this rate change would be effective January 1, 2016. However, for this to take place Prime Minister Justin Trudeau would have to act pretty quickly, very similar to what Rachel Notley had done in Alberta.

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Do You Intend to Retire From Your Business?

Guess Article By: Alex Lee, Investment Advisor

Whether you intend to sell the business to a third party, transfer it to family members, structure a management buy-out or wind it up, advance planning can help you make better long-term decisions. 

Will your business provide enough to fund your retirement?
If much of your net worth is tied up in the business, you may be less diversified than those who have a more traditional retirement portfolio. Remember that, unlike a salaried employee, it’s up to you to fund your own retirement. If you haven’t given further thought to that far-off day, consider that many business owners each year are unable to sell their businesses for a variety of reasons. These include difficulties finding a suitable buyer and obtaining financing for the successor once they have been identified. 

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How to Spend Your UCCB Lump Sum

calculatorFirst, a little background on the UCCB, It was started in 2006 at $100 a month for each child under the age of six. This year, Ottawa increased the amount for kids under aged six to $160 and added a $60 monthly benefit for children aged six through 17. All families with minor children are generally eligible for the benefit.

Assuming you applied for the UCCB and you have children aged 17 or younger, you've received the first retroactive and lump sum payment of the enhanced Universal Child-Care Benefit (UCCB). 

This money isn't targeted to any income group and there are no restrictions on how to spend it. Even if you're wealthy, you're going to get it. The question then, is: What do you do with it? 

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Visit Us

We are located near Sheppard Ave. and the 401/ 404 Hwy corridor at 203- 211 Consumer Road 
Toronto, ON M2J 4G8
Tel: 416-444-8747
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Quotable

Bo Bennet

"Avoiding the phrase "I don't have time...", will soon help you to realize that you do have the time needed for just about anything you choose to accomplish in life."

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