Incorporated business owners can choose how to pay themselves. Some receive limited input from their accountant regarding their compensation strategy, or they simply continue using the same approach without occasionally reconsidering it.

With the year winding down, savvy Canadian investors start thinking about tax loss selling to optimize planning opportunities and reduce tax. Tax loss selling is a planning strategy that allows investors to offset taxable capital gains by realizing capital losses in their portfolios. While relatively straightforward, the rules around tax loss selling—particularly the deadlines, superficial loss rules, and integration with broader financial goals—are nuanced.