BLOGS Starting Your Business? Let Us Help with Bookkeeping and Beyond! Starting Your Business? Let Us Help with Bookkeeping and Beyond! Starting a new business is exciting, but it comes with challenges—especially when it comes to managing your finances. At Mackisen Consultation, we make the financial side of starting your business stress-free and straightforward. With over 35 years of experience, we specialize in helping entrepreneurs set the foundation for success, from bookkeeping to strategic planning.   Why Financial Management Matters for Startups When you’re launching a business, it’s essential to: Stay Organized: Proper bookkeeping ensures you’re always prepared for tax season

BLOGS Struggling with Business Taxes? Unlock Maximum Deductions and Credits with Our Help Struggling with Business Taxes? Unlock Maximum Deductions and Credits with Our Help   Business taxes can be overwhelming, especially when you’re trying to manage operations and stay profitable. Many business owners leave valuable deductions and credits on the table simply because they’re unaware of what they’re entitled to claim. At Mackisen Consultation, we specialize in helping businesses like yours navigate the complexities of tax laws and unlock every possible advantage.   Why Tax Expertise Matters for Your Business Filing business taxes isn’t just about compliance; it’s an

BLOGS Stressed About Taxes? Let Us Help You Maximize Your Returns! Stressed About Taxes? Let Us Help You Maximize Your Returns!   Tax season can be overwhelming for individuals and businesses alike. Navigating through complex forms, ever-changing tax laws, and ensuring compliance can feel like an uphill battle. But at Mackisen Consultation, we turn tax stress into tax success. With over 35 years of experience, we specialize in uncovering every opportunity to maximize your returns while ensuring full compliance with the Income Tax Act. Why Tax Filing Is More Than Just Paperwork Filing your taxes isn’t just about submitting numbers

BLOGS Confused About RRSPs? We Can Help Maximize Your Retirement Savings with Mackisen Consultation: Your Trusted Financial Experts   Planning for retirement can be daunting, especially when it comes to understanding the complexities of Registered Retirement Savings Plans (RRSPs). At Mackisen Consultation, we leverage over 35 years of specialized expertise in financial planning, tax compliance, and investment optimization to help you navigate your RRSPs with confidence. As a CPA Audit firm, we bring extensive experience and collaborate with a vast network of over 550 professionals, including financial advisors, tax lawyers, and investment experts, to deliver unmatched results for our clients.

BLOGS Sale of Property and Capital Gains Taxes [gspeech-button]   Maximize Your Savings with Mackisen Consultation: Your Trusted Tax Experts   Selling your home, duplex, land, building, or multiplex is a significant financial decision, and navigating the complexities of capital gains taxes can be extremely stressful. At Mackisen Consultation, we leverage over 35 years of specialized expertise in capital gains, tax planning, and compliance to ensure you retain more of your hard-earned money. As a CPA Audit firm, we bring extensive audit experience and collaborate with a vast network of over 550 professionals, including tax lawyers and financial advisors, to

BLOGS Tax Calculation and Adjustments Here’s an overview of the key components related to Part I tax calculation, including base tax, additional taxes, recapture of investment tax credit (ITC), refundable tax on CCPC’s investment income, federal tax abatement, and deductions for manufacturing and processing profits:   Base Amount of Part I Tax (Line 550): Calculate 38% of taxable income from line 360 of page 3. Enter this base amount on line 550.   Additional Tax on Personal Services Business Income (Line 560) Add 5% of taxable income from a personal services business to Part I tax payable. Reference: Section 123.5