Testimonials

Marion Tripp

I have used Williamson Accounting since the beginning of Virtual Option.

Michael has always provided me with excellent service, advice and consulting.

They do the monthly bookkeeping for Virtual Option and also file my tax returns. Michael has been actively involved in the company’s growth and success.

I highly recommend their accounting expertise for small business.

Marion Tripp, President,
Virtual Option

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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.

Guess Article By: Ian Webster, Financial Planner

People looking ahead to life after work often have little idea how much money they spend now, let alone 5 or 10 years into the future.

Expenses never really go away. After all, you have to live somewhere. With the rate of home ownership in Canada hovering near 70 per cent, and with household debt near a record high, most people’s financial health is closely tied to the value of their principal residence.

But while many may have considerable wealth tied up in their home, they tend to ignore the off-balance sheet liability when it comes to the costs of keeping it. Whether it’s rising hydro rates or property taxes that only trend upward, these unavoidable costs of living are destined to take significant bites out of fixed retirement budgets.  

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.

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. 

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

Abraham Maslow

"You will either step forward into growth or you will step back into safety"

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