by Ricardo Ardiles | Pharmacy Owners, Recent Graduates, Reliefs, Retiring Pharmacists |
The year 2024 brings several essential tax changes that can significantly impact how pharmacists manage their finances. From contributions to various funds to alterations in tax rates and credits, here’s a comprehensive guide to tax updates that may impact...
by Ricardo Ardiles | Pharmacy Owners, Recent Graduates, Reliefs, Retiring Pharmacists, Staff Pharmacists, Students |
Part of securing personal and business finances is preparing for unexpected events or circumstances that are outside of an individual’s control. While this is important for anybody, it is especially critical for many in the pharmacy industry. Many self-employed...
by Ricardo Ardiles | Pharmacy Owners, Reliefs, Retiring Pharmacists, Staff Pharmacists |
If you have had any unprofitable investments or business losses over the past year, you are likely disappointed, but there could be a positive side. Tax-loss strategies, where you claim your capital losses to at least save money on your tax bill, can add a silver...
by Ricardo Ardiles | Pharmacy Owners, Recent Graduates, Reliefs, Retiring Pharmacists, Staff Pharmacists |
If you haven’t heard of surplus stripping as a tax strategy, you are not alone. However, it offers high income earners a great opportunity to withdraw funds at a lower tax rate. It benefits people in specific situations, but as of January 1, 2024, because of tax...
by Ricardo Ardiles | Pharmacy Owners, Retiring Pharmacists, Staff Pharmacists |
Businesses, including pharmacies, have access to more and more data than ever before. However, trying to sort through raw data to try to obtain meaningful data insights is difficult. Pharmacy owners and self-employed pharmacists in the pharmaceutical industry can...
by Ricardo Ardiles | Pharmacy Owners, Reliefs, Retiring Pharmacists, Staff Pharmacists |
Canadian pharmacy owners can claim meals and entertainment expenses as business tax deductions, but they need to be legitimate, work-related claims. It’s important to carefully follow CRA guidelines and rules to avoid an audit. What Pharmacy-Related Situations...
