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
The Top Tax strategies for medical practitioners (doctors, physicians, chiropractors, dentists, pharmacists) are revealed in this article. The common theme is that of income splitting – distributing income to family members that otherwise would have been taxed in the hands of the same individual. Hire your spouse/child As an owner, you can hire your spouse … Continue reading Income Splitting
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
Calculating HST payable in Ontario is a requirement for most small businesses. Thankfully, there is a simple way to do this – the Quick Method.
This short article is called tax tips for newlyweds. If you recently got married and have a hangover from the bill, this article is certainly for you.
This short article is called ‘Canadian Taxes for Non Residents and the Top Five Myths’. I am going to clear up some misconceptions and myths, so let’s get started.
What are the top changes in the 2013 Federal Budget that business owners should know about? Read this article to find out.
Are you a do-it-yourself kind of person, and want to prepare the T2 Corporate Tax Return on your own? If yes, then watch this video on “How to Prepare the GIFI (i.e. tax financial statements) for the T2 Corporate Tax Return.” This video starts from where we left off at the end of my previous … Continue reading How to Prepare GIFI – Tax Financial Statements for T2
In this article called, “How to Prepare Financial Statements”, I am going to walk you through, step by step, how to prepare financial statements for your business or corporation.
Whether to take a salary or dividend from the corporation is a complicated decision that a small business owner usually has to make. This article indicates advantages of both alternatives so you can decide which option is beneficial for you! Advantages of taking Salary Increase your RRSP contribution limit By taking a salary from your … Continue reading Is it better to take a Salary or Dividend?
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