Articles: Small Business Taxes

The Saskatchewan Budget introduced in March 2017 changed the scope of the services that PST is to be charged on with most changes already effective as of April 1 2017. There are also changes you need to be aware of effective July 1, 2017. Summary of Changes to Saskatchewan PST PST increases from 5% to … Read more

Income Tax Deductions for Small Businesses Whether it’s a traditional brick-and-mortar operation, home-based, or online, starting a small business in Canada takes a lot of time, money, and patience. It also gives you an appreciation for potential tax deductions you can use to either reduce the amount of income tax you pay or get an … Read more

Small Business Tax Return Myths Over the years a number of tax myths have surfaced about filing small business tax returns. This is totally understandable; it’s difficult to keep up with the changes that take place in Canada’s complex tax system. Not only can these tax myths make filing your taxes even more stressful, the … Read more

Tax Season: How to Prevent an Audit by the CRA If there’s any one time you don’t want to draw attention to your small business or agribusiness it’s during tax season. In addition to ensuring your paperwork is in order and your taxes are prepared correctly, a growing number of business owners are worried about … Read more

As a small business owner you’re faced with many rules and regulations, not just government, but also for your specific trade or profession. It can often be overwhelming trying to keep track of all the requirements. Here’s a short list of 5 things that you can be aware of to ensure you meet CRA’s requirements … Read more

CRA is mailing Notice of Assessments to taxpayers and small businesses and there are many that have attracted the attention of CRA to be selected for audit. In fact, in the future, there will be more audits and more focus on compliance and collecting tax debt. The Canadian Revenue Agency (CRA) has done a lot … Read more

You have your business up and running, perhaps as a sole proprietorship or a partnership and are now seeing some growth and profit. You may be wondering if you should now incorporate your business. Advantages and Disadvantages of Various Business Structures The following is a list of possible advantages and disadvantages of the most common … Read more