As most of you are already aware, new MSP premiums went into effect January 2018 where they were reduced by 50 percent for all British Columbians.
Moreover, as the Vancouver sun reported the NDPs budget unveiled a new payroll tax to take effect January 2019 offsetting revenue losses in premiums.
Companies with over 500k in payroll will pay .98 percent tax annually going up in payroll increments of $250k.
According to Finance Minister Carole James, the public sector will account for 20 percent of the tax revenue per year.
Check out the article here: https://t.co/nRvDNbKBXM— Dang & Company (@dangandco) August 22, 2018 https://platform.twitter.com/widgets.js
Most people know that Randy Dang is a fan of baseball, particularly a big fan of the New York Yankees. However any fan of baseball knows a good play when they see one. Today, in the big leagues, witnessing three time all-star Anthony Rizzo of the Chicago Cubs fall to his knees after hitting a homerun ranks up there in history as one of the best plays in MLB.
Check out this twitter post by Sports Center!
It’s reasons like that we call ourselves baseball fans at Dang & Company Ltd. not simply because Randy Dang is a big time fan of the New York Yankees but because since 1850 baseball has been referred to as a national past time. Baseball brings people together whether by playing the sport or watching it!
Go Cubs! Er … Go Yankees!
Here in BC we are all concerned with the state of our province and the forest fires. It is a major concern for all residents when we look out of our windows and see smokey haze not to mention the poor air quality.
Smoke billows over the northern shoreline of Nadina Lake, B.C., captured in a photo by a helicopter pilot who has been working on the fires in the area. (Dylan De La Mare) – CBC.ca
It leaves one to wonder if this is natural selection or if there was something we could do as a province to prevent these disasters from happening or even prevent them from spreading so far? Neverthless fire prevention is always a safe practice particularly in the warm, dry months of the year.
A few tips provided by health experts on CBC.ca can assist you on how to stay safe in smoky air. Some tips include: staying inside avoiding strenuous activity, leave the mask at home (which can be counter productive), seek large air conditioned buildings, change your vehicles air filters.
For now, at Dang and Company Ltd. we are staying inside collectively hoping for the west coast wind and rain to douse our forests and put these wild fires out. If you have any tips for us or the public please comment below.
Many of our clients owe taxes at years end; conversely many are due a refund. Ask yourself, “What bucket am I in?”. Whatever the answer is, decide if you are you happy with the outcome. Perhaps you are unaware of all the options available to avoid owing taxes at year end.
One simple way to reduce the amount of tax owing is to contribute into an RRSP. An RRSP is a retirement savings plan the government registers to which you contribute. RRSP contributions reduce your tax and any income earned is also exempt from tax (unless you withdraw from the plan).
RRSP’s are not only a retirement vehicle they are also a tax planning strategy. A tax planning strategy which done correctly ensures tax efficiency which minimizes taxes owing!
Randy and his team of advisors are well versed in tax efficiency. It is quite common for clients to approach his team around tax season to analyze their finances. I invite you to call Randy today, analyze your financial situation before tax season. You might learn something new or maybe even get that tax refund you always dreamed of!
Another summer, another holiday. What do you choose to do when taking summer holidays? Do you enjoy the freedom traveling through British Colombia’s beautiful backyard? Or do you travel abroad to explore our neighbouring country or even further across the pond?
Either way you spin it, it is always nice to take some time away and as mentioned our head Advisor and owner of Dang and Company loves a good trip to New York City. Some of the best New York trips include a visit to the Metropolitan Museum of Art where this year was the #metheavenlybodies exhibit.
Arts and culture have always been of interest to Randy Dang. He believes it is important to travel, take in the sights, have some time away but more so, he believes that while you are traveling your company stays looked after. He, like you, is an entrepreneur and appreciates the finer things in life.
You know the saying “when in Rome do as the Romans do”, or in this case – when in NewYork do as the New Yorkers do and go to Katz Delicatessen. Continue reading New York, New York (Part One)
One of the greatest gifts in life is the ability to travel, to soak in the many different cultures of our world – but what about being a business owner? Are there really any days off? The truth is as a business owner vacations may seem more like working holidays – especially if you are a sole proprietor.
How do we as entrepreneurs avoid the ”working holiday”? How do we simply “turn it off”? Truthfully, we don’t. It is one of the many reasons we became entrepreneurs in the first place – because we would rather work 80 hours a week for ourselves than 40 hours a week at a 9-5 job. But doesn’t everyone deserve a little time away?
The best holiday is one where you leave your home to go somewhere else and feel like you are away and yes EVERYONE does deserve a little time away… as the band Chicago puts it so beautifully.
Get started today. Evaluate your business annually in order for it to operate on a circadium rythym which will allow it to continue to thrive even while away on holiday. After all just because you are on holiday doesn’t mean your business is and our team of advisors at Dang and Company are ready to help you get started to take the necessary steps and have a REAL holiday.
Contact us today for a strategy that works specifically for you and your ever thriving Company!