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Small Business Taxes

What Happens If I Pay My Relative an “Unreasonable” Salary?

Last updated: Feb. 7, 2025 
What Happens If I Pay My Relative an “Unreasonable” Salary from My Corporation?  Many Canadian-Controlled Private Corporations (CCPCs) involve family members in their business and pay them a wage for completing specific job duties. It is also common for CCPCs to have spouses and children as shareholders of the corporation.  However, … Read more

Non-Capital Loss Carry Forward: How It Works In Canada (2025)

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Last updated: Feb. 7, 2025 
What is a non-capital loss? One of the realities of being a small business owner or farmer is that there are times when you will experience financial losses. Losses occur for a variety of reasons, including economic downturns, poor investments, and unforeseen weather or climate events. When they do, it’s important … Read more

Shareholder Loans: How Do They Work In Canada? (2025)

shareholder loan blog fbc

Last updated: Feb. 7, 2025 
As Canadian interest rates continue to soar, the idea of taking out a loan from your corporation at no or low interest may be increasingly appealing. But, before you start using a shareholder loan account, it’s important that you understand the associated tax impact and implications. While shareholder loans may initially … Read more

What are the Canadian tax deadlines? Why should I file on time?

What are the tax deadlines and why should I file on time?

Last updated: Feb. 3, 2025 
Meeting your tax obligations can be overwhelming. Missing a deadline adds stress and can result in penalties and interest charges on top of the taxes you already owe.  This article outlines the key tax deadlines for the 2024 tax year (due in 2025) to help you stay organized and ensure you … Read more

Your Guide to 2025 Tax Dates, Rates and Numbers in Canada

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Last updated: Jan. 9, 2025 
Tax season can feel overwhelming, but don’t worry. Filing your taxes accurately and on time is easier than you think.   We’ve compiled a handy list of key dates and tax numbers to help you get started.  Canada’s tax filing and payment deadlines for the 2024 tax year Description  Date  Registered Retirement … Read more

2025 Canadian Corporate Tax Rates and Deadlines

2023 corp tax rates canada

Last updated: Jan. 9, 2025 
As we wind down another challenging year of dealing with historic inflation, the last thing you want to think about is taxes. However, with profit margins tighter than ever, this is exactly the right time to take steps to minimize your tax burden. For incorporated businesses, this starts with understanding your … Read more