Last updated: Mar. 20, 2019
Tax Deductions You Might Be Forgetting The average small business owner in Canada pays more than 42% of their income in taxes. First off, that’s a lot of money. Second, no one wants to give more of their income to the Canada Revenue Agency (CRA) than they legally need to. Unfortunately, … Read more
Last updated: Mar. 19, 2019
On March 19, 2019, the Honourable Bill Morneau presented his fourth budget as Minister of Finance. The 2019 Federal Budget, entitled “Investing in the Middle Class”, focuses on: Making Home ownership more affordable for first-time buyers. Help workers gain new skills. Preparing young Canadians for good jobs. Helping Canadians with the … Read more
Last updated: Feb. 20, 2019
On 19 February 2019, British Columbia Finance Minister Carole James tabled the province’s fiscal 2019–20 budget. Although the budget does not include any new changes to the corporate or personal tax rates, it enhances the province’s Small Business Venture Capital Tax Credit program and introduces the new B.C. Child Opportunity Benefit … Read more
Last updated: Feb. 20, 2019
Each year, more than 1 million Canadian employers fill out more than 9 million ROE forms for their employees, according to the Government of Canada. A record of employment (ROE) is the single most important document in the Employment Insurance (EI) program. As an employer, find out what your responsibilities are … Read more
Last updated: Feb. 6, 2019
When you run a small business, one of the most important things you’ll find yourself doing on a periodic basis is tracking the amount of cash going in and out of your business – or in accounting jargon, cash flow. However, as an entrepreneur you’re to juggling many responsibilities all at … Read more
Last updated: Jan. 23, 2019
If you have employees, as an employer you are obligated to automatically deduct income tax each time you pay your employees. You are also obligated to issue T4 slips to all employees from the past year by the end of February. For your employees, the T4 slip(s) represent the entire income … Read more
Last updated: Jan. 16, 2019
Taking Advantage of Home-Based Income Tax Deductions Whether you’re self-employed and operate a home-based business or work for someone else, you have to pay taxes. On the front end, federal and provincial taxes get deducted from your pay. You also end up paying taxes on day-to-day purchases, like food, household expenses, … Read more
Last updated: Jan. 9, 2019
Starting an Internet marketing business can be challenging, fun, and lucrative—all at the same time. It’s an excellent opportunity to earn money while in the comforts of your home. At the same time, an Internet marketing business requires less monetary investment compared to the physical facilities required for your farm or … Read more
Last updated: Jan. 2, 2019
Franchising a business has gained an increase in popularity today. We’re all in a clamor to earn more – or to be our boss. There are many advantages when choosing to go for a franchised business, rather than start up your own from scratch. If you don’t know where (and WHAT) … Read more