TORONTO, ONTARIO — (Marketwire) — 11/28/12 — To mark Financial Literacy Month, BMO Financial Group is releasing a series of financial tips throughout November. As part of BMO-s commitment to -Making Money Make Sense-, the tips are designed to help individuals and families save and manage their day-to-day finances more effectively.
BMO-s Tip of the Day: Small business owners should take advantage of applicable year-end tax strategies to minimize 2012 tax costs.
With 2013 just around the corner, small business owners should start implementing tax strategies that will help them minimize year-end costs and save money. Small business specialists, accountants and/or investment advisors can give owners a clear understanding of the financial health of their business, and provide them with straightforward methods that can pay dividends come tax time.
“It-s a good idea to do a financial check-up well ahead of year-end to get a good idea of the tax strategies that are available to you,” said Joe Collura, Small Business Banking Area Manager, BMO Bank of Montreal. “Consult with a small business specialist and your accountant to review some straightforward methods that can help minimize the amount of 2012 income tax payable.”
BMO offers the following year-end tax considerations for small business owners:
“CFEE commends BMO-s ongoing efforts to support Financial Literacy in Canada and promote ways in which Canadians can increase their competence and confidence when managing their personal finances on a day-to-day basis,” said Gary Rabbior, President, Canadian Foundation for Economic Education (CFEE).
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For more on financial literacy, Canadians can visit the Government of Canada-s website, as well as BMO-s online resource.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at July 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media Contacts:
Jessica Park, Toronto
(416) 867-3996
Valerie Doucet, Montreal
(514) 877-8224
Laurie Grant, Vancouver
(604) 665-7596
Internet:
Twitter: @BMOmedia