Part 2 – How to Prepare Business Taxes for Self-Employed Individuals

Find out how to complete form T2125, the Statement of Business Activities Part 2 in 3 easy steps. This is meant for self-employed individuals who would like to complete their tax return independently on specific sections, including home-office expenses, vehicle expenses, and Capital Cost Allowance.

How to Prepare Business Taxes for Self-Employed Individuals

Find out how to complete form T2125, the Statement of Business Activities Part 1 in 6 easy steps. This is meant for self-employed individuals who would like to complete their tax return independently on specific sections, including home-office expenses, vehicle expenses, and Capital Cost Allowance.

How to Prepare a T4 Slip

What is a T4 slip? A T4 slip reports salary and wages paid by a Canadian corporation to its employees.  In order to prepare a T4 slip, you must follow these 12 easy steps below.

How to Prepare a T5 Slip

A T5 slip reports dividends paid by a Canadian corporation to its shareholder(s). In order to prepare a T5 slip, you must follow these 8 easy steps below.

5 Best Business Tax Tips for the Year End

Take advantage of these 5 tax tips before the end of the year and save taxes for your business.

Tax Write-Offs for a Small Business in Canada

If you own a small Canadian business, it is beneficial to claim these 8 tax write-offs, as they will help reduce your business’ taxable income and taxes payable.

Transferring Business to Family Member in Canada

As a baby-boomer coming close to retirement, you may consider transferring your business to a loved one in the future. Here are a few simple tips to get you started.

Tax Strategies for Physicians in Canada

Are you a physician or medical doctor who ncludings tired of getting beat down by the taxman? In this article, we will share 4 unique tax saving strategies for medical doctors in Canada.

Top Tax Saving Strategies for Small Businesses Webinar

If you missed our Webinar for Top Tax Saving Strategies for small businesses, you can watch it here!

How the 2016 Budget Could Affect CCPCs in Canada.

Canadian-Controlled Private Companies (CCPCs) currently enjoy a low business federal tax rate of 10.5% for profits below $500,000. Profits that exceed $500,000 are taxed at a higher federal rate of 15%. Provincial tax rates are extra. Previously, the Conservative Government planned to reduce the low federal tax rate (10.5%) to 9% over four years. However, … Continue reading How the 2016 Budget Could Affect CCPCs in Canada.

How can I get tax free benefits from my corporation?

Do you own a small corporation in Canada? Did you know that you could receive tax-free benefits from your corporation? In this video, I will highlight 3 types of tax benefits that you can get – A company car, medical expenses, and pension.

Benefits of Incorporating Your Business Using Section 85

Are you self-employed? If yes, you may want to think about eventually turning your business into a corporation. There are financial benefits that can be gained by choosing to incorporate.

Should I Declare a Year-End Bonus or Pay Dividends from Company Profits to Myself?

With the end of the year approaching, business owners must make important decisions quickly to reduce their business taxes for the year, one of which is paying out bonuses. Read further to figure out what decision is best for you.

2015 Canadian Federal Election and Taxes

With the Canadian Federal Election coming up, it’s important to know where the three main parties stand in regards to both personal and corporate tax.

Reducing Tax with Corporate Life Insurance

Business owners looking to save tax, and protect their assets should read this.  In this article, I will briefly explain how a corporate life insurance policy can be used to reduce taxes and creditor proof assets.

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