Category: Something to Think About

• Something to Think About

If you are reading this blog then the opening statement probably applies to you – “your income is too low” and that has far more to do with you being in debt than any other factor. In London, Ontario, a slightly misleading report released by the city council, as councillors were seeking a pay increase, […]

• Something to Think About

The term “zombie debts” usually applies to debts that “haunt you” for a long time after you thought they were dead. These may include debts that are no longer owed because they were paid out or even statute barred debts. But in fairness the term should equally apply to credit card debts from Canadian chartered […]

• Something to Think About

That’s right, you should plan for a bankruptcy in the same manner as you would plan for a critical illness or any other unfortunate occurrence that may come your way. You are probably worried that in the event you became critically ill you could lose everything you own. By the same token you ought to […]

• Something to Think About

In a bankruptcy proceeding surplus income is to be calculated by your trustee who is required to consider the guidelines provided by Directive from the Office of Superintendent of Bankruptcy.  The guidelines are based on the LICO (or Low Income Cut Off).  You might think of the LICO as being a poverty line. The LICO […]

• Something to Think About

We have solutions for your tax dilemma. Small business owners face tremendous challenges in dealing with taxes and taxation. The challenges are multifarious beginning with excessive taxation, as well as rules and regulations around the calculation, reporting and payment of taxes. Nothing is simple about Canadian tax laws. Small business owners are often talented craftsmen […]

• Something to Think About

Tax season comes but once a year for accountants, but for LITs, any season can be tax seaons.