business and corporate tax Archives

Year-End Tax Tips for 2014

Tax management is very critical, especially for small and medium-sized businesses. This article provides many year-end tax tips for 2014 that you can take advantage of to save your business more money. 1) Withdraw funds from your corporation in a Tax-effective manner: Salary and/or Dividends Pay Salary /Bonus from the corporation: Advantages Salary/bonus constitutes as … Continue reading

Is it Better to Receive Management Fees or Salary from Your Corporation? Watch Video

Are you an incorporated business owner? Have you wondered about paying yourself management fees or a salary?

How to Deduct Meals and Entertainment for Clients from Business Income? Watch Video

Did you know that you can deduct meals and entertainment for clients from your business income?

Saving Tax on Life Insurance Premiums

Tax Treatment of Life Insurance Premiums Normally, life insurance premiums are not deductible by individuals or corporations for tax purposes. However, there are a few exceptions which are discussed below. Life Insurance Policy Used as Collateral for Loan Life insurance premiums (or a portion of it) may be tax deductible if the policy is required … Continue reading

Year-End Tax Strategies

TAXATION It’s never too early to start planning your year-end tax strategies. For many businesses, the month of October signals that the end of the fiscal year is not far away. Realizing that December 31 is fast approaching should prompt you, as an owner-manager, to review your year-to-date corporate and personal data and start putting … Continue reading

Do I Have to Pay Tax on a Company Car?

A common trend among many small business owners is having a company car. What a lot of small business owners do not realize is that if they make their car accessible to employees then they may have to pay additional taxes. Some applicable taxes that are levied are standby charges, operating cost benefits, taxable automobile … Continue reading

How Do I Give Money to my Startup Business? Watch Video

When you have a new business venture it can be difficult generating cash and capital.

Tax implications of selling a Dental Practice in Ontario

Are you a dentist with a practice? If you are, you know there are few harder decisions than selling your business. After all, you have put your money and effort into building your reputation. There are also complications involving sales, such as finding a buyer and minimizing tax. Dentists simply cannot afford to sell without … Continue reading

What are the tax benefits of a holding company? Watch Video

Are you wondering what are the tax benefits of a holding company?

Tax Benefits of Life Insurance for Business Owners Watch Video

There are many benefits that a corporation can gain from getting life insurance.

Disadvantages of a Corporation Watch Video

While corporations have many benefits, there are also some drawbacks.

What are the Advantages of a Corporation? Watch Video

If you have a business then it might be a good idea to consider incorporating into an corporation

Canadian Corporate Shareholder Loans

Are you an employee looking for information on Canadian Corporate Shareholder Loans? Look no further! All corporations need a capital base to run. Without one, it cannot operate, acquire assets, or conduct business. Known as capitalization, shareholders can provide a capital base in the form of either debt or equity. We call capital provided in … Continue reading

What You Can Do in Your Business to Save a Little Money Wherever You Can

No matter what type of business you’re running, one of the key things you often look out for is how to save money. Even the biggest companies in the world follow a few frugal tips to make the profits stretch further. The good news is there are plenty of ways to cut back. Below you’ll … Continue reading

How to Save Money for Sole Proprietors Watch Video

Are you looking for tax tips for sole proprietors? Sole proprietorships

Tag: business and corporate tax