business and corporate tax Archives - Page 3 of 16

What You Should Know About Transfer Pricing

Does your company do business with related foreign companies? If the answer is yes, this article is for you. I will briefly describe the Canadian transfer pricing issues that you need be aware of.

Tax Implications of Crowdfunding

Today we are talking about crowdfunding and it’s tax implications. So if you’ve ever thought about using this new method of raising capital to startup your new business, or to develop a market for a new product

Electronic Gadgets Your Business Should Be Deducting

Many small business owners do not realize that a large majority of electronic gadgets and equipments that they use in the operation and functionality of their business are taxable.

Asset Capitalization Process and Tax Credits – An illustrative example of a Manufacturing Environment

A tax incentive for Canadian manufacturers is accelerated depreciation of manufacturing assets and corporations can maximize via a true valuation of its capital asset. In this sequel we quantitatively highlight how accurate asset capitalization involves your engineer and accountant. Example Consider a fictional Canadian corporation, ABC with the following simplified expense. Over two year period, … Continue reading

Technological Development and Asset Capitalization – Bringing the Engineer and Accountant under a single roof!

Is your business in the process of developing or modifying an acquired technology? This can be machinery, electronic hardware or a software product that needs to be customized. Your end result is a new valuable asset that you own and brings long-term economic utility. In this path, we recognize two costing aspects: (i) isolating development … Continue reading

Why Does Your Corporation Need a Minute Book?

Do you own a corporation? Why does your corporation need a minute book? Proving your corporation is legitimate relies heavily on your Minute Book. Learn what a Minute Book is, and how it can help your corporation.

Claiming R&D tax Credits – Uncertainty, advancement and Developing a SR&ED Thought Process

Scientific Research and Experimental Development (SR&ED) is a generous government incentive program to aid Canadian business that promote in house research and development activities. Eligible businesses can benefit from refundable and/or non-refundable tax credits. Depending on your overall corporations tax scenario, you could receive cash and/or tax credits, which can be used to either, offset … Continue reading

Why You Should Use Your Personal Vehicle for Business Use

Has your company offered to pay for your vehicle expenses as a taxable benefit? If yes, it is time to reconsider your answer! Avoid paying taxes and deduct a portion of your car costs simply by using your personal car for businesses purposes.

Are Website Costs Tax Deductible?

E commerce has taken the business world by storm. It is evident that creating a website is an ingredient to building a successful business. Learn how building your small business website can reduce your taxes.

Are Meal Allowances Tax Deductible On Business Travels

Are you an employer who is wondering if meal allowances are tax-deductible? Better yet, are you an employee who is required to travel for work? Is your meal allowance tax-free? Learn the benefits and regulations towards food and meal taxes while traveling. Take a bite out of this week’s Tax Tip.

5 Tax Scams That Every Small Business Owner 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.

Apprentice Job Creation Tax Credit

TAXATION Receive an investment tax credit by hiring apprentices to replace your retiring workers. The potential retirement of the Baby Boomers is creating a gap in many trades that will have to be filled by inexperienced trainees. Companies whose success depends on the employment of highly skilled workers should be looking at their growth strategy … Continue reading

How Corporations are Taxed on Dividends Received

In this blog, I will explain how corporations are taxed on dividends received.

2014 Year End Tax Tips for Business Owners

As part of our ongoing efforts to better engage and provide value to our clients, we regularly conduct informational tax webinars. Our webinar on February 20, 2015 focused on year end tax tips for business owners. Some of the topics covered in this webinar included:

Tax Implications of Mergers in Canada

Tax Implications of Mergers Mergers and amalgamations encompass a broad range of transactions. Their tax issues vary depending on a number of factors, including: whether the target company is public or private, whether the target is a resident or non-resident of Canada, impact of the year-end of both companies, application of capital and non-capital losses, … Continue reading

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