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5 Key Factors in Choosing a Business Structure

Choosing the right business structure in Canada

Starting a business is an exciting venture that gives you freedom over your schedule, the opportunity to profit from your efforts, and allows you to offer valuable services or products to your community. At the same time, your business demands certain responsibilities, such as paying taxes to the Canada Revenue Agency or taking on liability risks. In this article, we’ll weigh the pros and cons of each business structure option in Canada: sole proprietorship, corporation, partnership, and co-operative based on 5 key factors. Read More

Written by MadanCA Team on December 10, 2024 @ 11:51 pm
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5 Tax Scams Small Business Owners Should Know

Every small business owner should beware of the tax frauds that are preying on their business. Tax scams are the demise of many small businesses and can lead to criminal investigations on tax evasion, identity theft, and much more. Find out the 5 tax scams that every small business owner should know.

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2015 Canadian Federal Budget – Tax Cuts and Reliefs

Tabled on the 21st of April, the 2015 Canadian Federal Budget while premised on fiscal austerity, looks to expand on existing benefits and tax reliefs for individuals, families, seniors and small business owners. Let’s take a look at how this impacts the varying demographic groups and what this may potentially mean for you.

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Are UN Employees Tax Exempt?

If you are a Canadian working for the United Nations, you may generally be exempt from taxation on any income earned from the UN. Depending on if you are a resident or non-resident of Canada, your tax filing obligations may differ. Want to learn more on UN employee tax exemption? Then this article is for … Continue reading Are UN Employees Tax Exempt?

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2015 Canadian Personal Tax Filing Deadline Extended

Struggling with finishing your income tax return? Rushing towards the April 30th cut-off? Well Canadians, there has been a human error – or some may see it as a human hero – which has extended the personal tax return filing deadline.

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Deferring capital gains tax on real estate sales explained

If you have a capital gain on the sale of real estate but have not received the entire payment, you can actually defer paying tax on that capital gain by using the capital gains reserve mechanism.

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Filing Taxes: Benefits for Those with Modest Incomes

Do you or someone you love live on a modest income? Find out how filing taxes can help! In todays’ world, paying for everyday essentials like heating bills and property taxes can add up quickly – especially for those with modest incomes. that’s why it’s so important to file a tax return each year. By … Continue reading Filing Taxes: Benefits for Those with Modest Incomes

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Claiming the Principal Residence Exemption

Have you sold your principal residence in the year? If yes, this article is for you. This article will look at the most commonly asked questions about the principal residence exemption.

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Top myths about the family tax cut debunked.

Are you confused about the family tax cut? Do you want to know the facts and myths? Read this blog to find out how the family tax cut can benefit you in this tax season

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Common taxable benefits for employees explained.

If you have a job and are concerned about paying too much in taxes then this article is for you.  In this article, we will review the two most common taxable benefits that are provided by employers to employees.

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Tax Tips for Canadians Investing in American Real Estate

One of the most significant road blocks for Canadian real estate investors looking to invest in Canada or the United States is the significant tax implications that may arise. That is why it is crucial that you utilize the best type of partnership structure for your situation. In this presentation, Allan Madan explains the tax … Continue reading Tax Tips for Canadians Investing in American Real Estate

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