Business managers must set clear financial objectives to emphasize the financial targets of the company. Objectives should be ambitious but also measurable and realistic. An example of a financial objective could be growth in company revenues and earnings.
The RRSP deduction and contribution limit is 18 percent of your earned income to a maximum value each year. The maximum RRSP contribution limit for 2013 is $23,820.
The itemized deduction limit increases with each dollar earned above the AGI limit up to a maximum of 80% of total deductions. Individuals subject to the Pease limitations will need to complete the Itemized Deductions Worksheet to determine the amount to enter on line 29 of Schedule A. Starting in 2018, these limitations will be eliminated through the 2025 tax year.