Category: Business & Corporate Tax

New Tax Increase on Family Business Transfers in Canada (2018)

Planning on transferring your business to a loved one? Find out about the new proposed tax rules by the liberal government that will increase taxes on small business owners who are retiring and transferring their family business to the next generation.

Tax rules for small businesses in Canada for 2018.

Do you own an incorporated small business? Learn about the new changes made by the government to small business taxation, which you should be aware of and how they can impact you.

Buying a primary residence through a corporation in Canada.

Are you a business owner that would like to purchase a new home with your corporate savings. If yes, read further to learn how.

Preparing business taxes for self-employed individuals.

Français   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.

Introductory guide to business taxes for the self-employed.

Français 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

Français 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

Français 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.

Minute Books: Why They Are Essential For Your Business

What are “Minute Books?” Your corporation’s Minute Book is an official record of your company’s activity including: Documentation that proves your corporation exists. The names of all shareholders, officers and directors that have been in the company since incorporation. Share transfers and insurance. Proof that every step was taken to activate the corporation after incorporation. … Continue reading Minute Books: Why They Are Essential For Your Business

Benefits of using an accountant to incorporate a business.

If you are planning on incorporating your business, hiring an experienced accountant is one of the best investments you can make! An accountant will give you 1 on 1 tax planning advice and give you a proper corporation structure based on your and your family’s tax situation. Once your accountant knows of your tax situation, … Continue reading Benefits of using an accountant to incorporate a business.

Tax write-offs for small businesses in Canada explained.

Français 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

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