Hiring family members in a Canadian small business can be a smart financial and operational decision. Many entrepreneurs involve spouses, children, or relatives in their business to help manage operations, bookkeeping, administration, marketing, or customer service. However, the Canada Revenue Agency (CRA) has strict rules regarding payroll, compensation, and tax reporting when employing related individuals. Read More

Running a business in Mississauga comes with many responsibilities, and one of the most important is staying compliant with corporate tax obligations. Corporate tax return preparation is not just about filing numbers – it’s about accuracy, strategy, and ensuring your business remains financially healthy. With evolving Canadian tax laws and strict compliance requirements, working with a professional corporate tax expert can make all the difference. Read More

Selling shares of a private corporation is a significant financial event for business owners in Canada. Whether you are planning your retirement or restructuring your business, understanding the tax treatment of such transactions is crucial. The tax implications can vary depending on factors such as ownership structure, eligibility for exemptions, and the nature of the shares being sold. Read More

If you operate through a corporation as an independent contractor in Canada, there’s a critical tax concept you simply can’t ignore – the Personal Services Business (PSB) classification. Being categorized as a PSB by the Canada Revenue Agency (CRA) can significantly increase your tax burden and limit your deductions. Read More

You’ve finally done it.

You left the 9-to-5, incorporated your business, and landed a high-paying contract with a major bank. You’re billing $150 an hour, and you’re expecting to pay the cozy 12.2% small business tax rate on your profits. Read More