Articles: Small Business Taxes

Last updated: Jun. 11, 2026 Most Canadians file and move on, trusting the process worked. But what if it didn’t? Here are the clearest signs it’s worth having another set of eyes on your return. There’s a quiet assumption most of us make after filing: if the numbers went through and the CRA accepted the return, … Read more

Last updated: Jun. 2, 2026 Are You Overpaying Your Business Taxes? Here’s How to Tell Most Canadian small business owners assume their taxes are done right. But overpaying is surprisingly common, and it quietly costs you thousands every year. Here’s how to spot it and what to do about it. You work hard to build your … Read more

Last updated: Mar. 2, 2026 What Your Accountant Wishes You’d Bring to Your Tax Appointment Tax season has a way of creeping up on business owners. Between managing operations, watching input costs, planning for weather, and thinking about the year ahead, organizing tax documents can feel like one more task on an already full plate. But … Read more

Last updated: Nov. 6, 2025 The 2025 Federal Budget, Building Canada Strong, is focused on three big goals: Building more homes Upgrading infrastructure Supporting businesses All while the federal government pledges to tighten its fiscal belt. For small business owners, farmers, and entrepreneurs, Budget 2025 brings both new opportunities and a few policy resets that could … Read more

Last updated: Sep. 11, 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

Last updated: Jul. 15, 2025 What is a tax write-off? A tax write-off is simply another way of saying “tax deduction.” With a tax write-off, you can deduct a large number of expenses approved by the Canada Revenue Agency, all of which help to significantly reduce your taxable business income. For example, if you make $100,000 a … Read more

Last updated: Jul. 15, 2025 What is income splitting? Income splitting is the strategy of redistributing income within a family—usually from a spouse in a higher tax bracket to a spouse in a lower tax bracket—to reduce a family’s overall tax bill. In general, income splitting works best when one spouse earns significantly more income than … Read more

Last updated: May. 12, 2025 That envelope from the CRA just landed in your mailbox (or more likely, your digital inbox these days). Your notice of assessment has arrived — and whether you’re a small business owner or just filing personal taxes, this little document packs a punch. So what exactly is this notice of assessment, … Read more

Last updated: Apr. 4, 2025 Unfortunately, when it comes to instalment payments, the answer to this question is not so cut and dry. Installment payments are typically calculated using your previous years’ net taxing owing. If your net tax owing was more than $3,000 ($1,800 for Quebec) for 2024, and in either 2023 or 2022, then … Read more