Category: Business & Corporate Tax

Minimizing Capital Gains Tax

A lot of people pay way more tax more than they need to on net capital gains. Most people do not realize there are a few ways to reduce and sometimes eliminate capital gains altogether. In this article I will talk about a few different, but simple ways you can reduce your capital gains tax … Continue reading Minimizing Capital Gains Tax

Toronto Small Business Accountant – Reducing Taxes and Saving $$$

Has your small business accountant Mississauga actively helped in the reduction of your taxes? Have you been able to save your small business any money? If not, then according to the advice of Allan (expert and small business accountant Mississauga) you should have a candid conversation with your business accountant and ask the following mandatory … Continue reading Toronto Small Business Accountant – Reducing Taxes and Saving $$$

Tax Deductions for Small Business Owners

What are the tax write-offs available to small business owners in Canada? If you are a small business owner in Canada, it’s important to be aware of all possible tax writes offs for your business. Tax write offs will significantly reduce your business’ taxable income and taxes payable.

Leasing vs. Buying a Car for Your Business

If you are a business owner or an employee who needs a car for work, you should know whether it’s more tax efficient to buy or lease a car in Canada There are several steps involved in answering the question, “Is it better to lease or buy a car for a business in Canada?”

How the Self Employed Can Reduce Taxes

How can the self employed in Canada save taxes? The answer to this question can be daunting and difficult to understand. However, I’ve created a simple list of the Top 5 Tax Savings Strategies for self employed persons, which are listed below. I’m sure you’ll be very pleased with these tips, once you see how … Continue reading How the Self Employed Can Reduce Taxes

Can naturopaths and hygienists incorporate in Ontario?

Dental hygienists and naturopaths can incorporate in Ontario because of new laws passed. Incorporation can lead to many benefits, such as tax savings and reduced liability. Incorporation of Hygienists and Naturopaths after 2006 Hygienists – changes to laws for incorporation In 2006 the Ontario government created Bill 171, the Health Systems Improvements Act. This bill … Continue reading Can naturopaths and hygienists incorporate in Ontario?

Planning on Selling a Business?

Français Selling your business can be a long thought-out process. Having a plan of attack and understanding the different approaches can help save valuable time and money. How do I sell my Business? You can sell your business using sale of asset or sale through stock. Depending on which method to use, certain taxes can … Continue reading Planning on Selling a Business?

Questions to ask small business accountant in Mississauga.

Has your small business accountant Mississauga actively helped in the reduction of your taxes? Have you been able to save your small business any money? If not, then according to the advice of Allan (expert and small business accountant Mississauga) you should have a candid conversation with your business accountant and ask the following mandatory … Continue reading Questions to ask small business accountant in Mississauga.

Self-preparation tips for effective corporate tax returns.

Would you like to prepare a corporate tax return for your company on your own?  If yes, then this article is for you. Corporate Tax Return Preparation Tips See the following steps to assist you with preparing a corporate tax return: 1.    Complete the T2 The T2 can be downloaded from the Canada Revenue Agency’s … Continue reading Self-preparation tips for effective corporate tax returns.

Demystifying LLCs for Canadians

With the housing costs at an all time low in the U.S., you are certain that this is your once in a lifetime opportunity to invest in a rental or a commercial property south of the border. From general research online, you discover about the Limited Liability Corporation (LLC) and all of its benefits: liability … Continue reading Demystifying LLCs for Canadians

Sole Proprietorship vs corporation

The topic sole proprietorship versus corporation for medical practitioners is discussed in this article, to serve as an aid in choosing the right structure. Each alternative has its own benefits, and an analysis of both options is offered below. Control of income timing and amount As a sole proprietor, all income earned in the medical … Continue reading Sole Proprietorship vs corporation

Hobby or Business

Do you want your business to be more profitable? Do you want your financial forecasting results to be favorable? There is one way to help with that, by keeping your tax costs as low as possible. Read on to find legal ways to reduce business tax in Canada. Hobbies are a most human aspect of … Continue reading Hobby or Business

Sales Tax for Online Businesses

Do you want your business to be more profitable? Do you want your financial forecasting results to be favorable? There is one way to help with that, by keeping your tax costs as low as possible. Read on to find legal ways to reduce business tax in Canada. Sales Tax in Canada for Online Businesses … Continue reading Sales Tax for Online Businesses

Cross-Border Tax Tips for Online Business in Canada

Cross Border Taxes- Tips on Doing Online Business in Canada By: Allan Madan | Aug 18th, 2013 | Tax, US Tax, Canadian Tax Cross Border Taxes are often overlooked by online business in the U.S., even when they sell to customers north of the border. However, you can bet that sooner or later, you will … Continue reading Cross-Border Tax Tips for Online Business in Canada

Quick Method of HST Collection

Calculating HST payable in Ontario is a requirement for most small businesses. Thankfully, there is a simple way to do this – the Quick Method.

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