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5 reasons to buy life insurance—right now Aug 20th
If you’re working to improve your financial situation, a few strategies may come to mind: paying down debt, building an emergency fund, investing inside a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP), or putting your money in other savings vehicles. These are all .... More »
How to stake Cardano (ADA) in Canada + MORE Jun 12th
Like other cryptocurrencies, ADA, the native coin of the Cardano blockchain, has been in a bear market since October 2021—meaning a recent pattern of price declines. Despite this downturn in crypto prices, Cardano seems to be a strong player among the public blockchains that offer smart contract f.... More »
Preparing taxes for someone who died Feb 9th
When you are managing the tax affairs of someone who has died, there are important steps to take to notify the Canada Revenue Agency (CRA), represent the deceased taxpayer, and finalize their tax filings.
Contacting the CRA
You should contact the government as soon as possible. This incl.... More »
Accident benefits have you covered—but for what, exactly? + MORE Apr 17th
Accident benefits might be the last thing on your mind when you’re buckling up in a new ride and tuning into your ultimate road-trip playlist, but they’re important to know. Accident benefits coverage is mandatory across Canada, except in Newfoundland and Labrador. Without it, you would be.... More »
Condo maintenance fees: How much is too much? Jun 29th
Condos are a popular choice for many first-time homebuyers owing to their lower price point and access to amenities such as gyms and pools. But as well as a mortgage, condo owners are responsible for monthly maintenance fees that support operating costs for the building, among other aspects, and it&.... More »
Why Offer Employee Benefits
– life-insurance-quotes.ca
What Every Small Business Owner Needs to Know
The current labour market has shifted and is now in favour of the employee. Coming out of the pandemic, there are more jobs available than there are people willing to fill them.
What does this mean to the average small business owner? In a nut shell, it is increasingly difficult to find the right employees for positions that need to be filled.
There are a couple of ways companies can overcome this:
Increase salaries.
Offer better employee benefit plans.
Increased salaries certainly do attract top-end talent. Unfortunately, they also result in higher payroll taxes, which can be substantial in Canada.
The premiums paid into a group benefits plan, however, are a tax deductible expense to the company and are not taxable benefits to the employees!
Why Offer Group Benefits Coverage?
There are numerous positives when it comes to offering your employees a comprehensive group insurance plan. The following just outlines some of these:
A competitive benefits plan will attract and retain qualified and stable employees to your team…
