Blog Category: Taxation

Year End Payroll Taxes—How Much Should You Be Paying?

Category: Accounting Taxation

Payroll is an unavoidable part of running any business. It can also be time-consuming and confusing if you are unfamiliar with the process. Many small business owners choose to manage their payroll in-house, so in this article, we’ll look at the main deductions and tax payments you have to make on behalf of your employees to the Canada Revenue Agency (CRA).
We’ll also look at what your options are if you don’t want to deal with the payroll process yourself.

Providing Clarity - Tax tips for Aboriginal entrepreneurs

Category: Indigenous business Taxation

So you’re ready to start your business but you’ve received mixed messages about tax implications for Aboriginal entrepreneurs. Does it depend on whether you are status First Nations?  Is it about the business structure you choose or whether you operate on- or off-reserve?  Or all of the above?  Have no fear, you’re not alone!  There is no right or wrong choice but it is important to understand the impact of each option and which will work best for you before setting up shop.

5 Tax Tips for the Tax Season

Category: Taxation

Tax season is among us and this can be a bittersweet time for many small businesses like your own. Before we get to  reap the benefits of our tax returns, there is lots of paperwork to be done which can sometimes be a little confusing. Below are some questions and simple, quick tips to help you along the way.

3 Easy Tax Tips for Your Small Business

Category: Accounting Taxation

If the thought of doing taxes makes you cringe, you're not alone! Here are some simple tips to help you de-stress when filing your business taxes.
1. Know what you can claim if running a home-based business
Canada Revenue Agency (CRA) recognizes that many small businesses operate out of their homes, and because of this, a deduction is allowable in proportion to the amount of space that is used for the business. Some expenses eligible for claim are: 

2016 Small Business Legal Resolutions

Category: Legal issues Taxation

As an entrepreneur, it’s always important to start the year with clear goals, an action plan and a moment to reflect on what you’ve learned in the past year. With all that’s on your plate, the legal side of things is often pushed to the side. This short checklist will help you quickly review some critical legal compliance issues, so you can get back to focusing on your success in 2016!