Articles: Small Business Taxes

Last updated: 2018-01-17 12:01:09 Hiring a Tax Consultant for Your Small Business Hiring a professional tax consultant for your small business is a strategic move that could save your business a lot of money in the long run. A small business tax consultant is important to your business’ bottom line because they are there for the … Read more

Last updated: 2018-01-10 07:45:12 If you’re a small business owner, or thinking of starting a business, you may be wondering if and how you should structure your company. Of the 4 different ways to structure a business (proprietorship, partnership, co-operative, or corporation), incorporating has the most advantages for small business owners.  When is the right time … Read more

Last updated: 2018-01-03 12:00:14 Buying a business in Canada is a big, exciting step with many opportunities and risks. On the plus side, buying a business means you get an immediate revenue stream and customer base. The previous owner might even be able to help show you the ropes in the early stages.   On the … Read more

Last updated: 2017-12-14 08:38:07 On December 13, 2017, the Government published details of its proposals to (in their view) simplify and improve the treatment of income sprinkling, which are proposed to be in effect for the 2018 tax year and beyond. The Canada Revenue Agency (CRA) has also released guidance with respect to these measures. The … Read more

Last updated: 2017-11-09 14:27:16 As wildfires are still burning in many areas of B.C., and thousands of people remain on evacuation order, the government’s focus will continue to be on fire suppression and emergency social services supports. In the coming weeks, this focus will shift more fully from public safety to recovery. To assist families and … Read more

Last updated: 2017-11-08 07:59:38 What a Tax Professional Can Do for Your Family Business Family businesses, big or small, are the backbone of the Canadian economy. In fact, approximately 80% of all businesses in Canada are family-owned. On top of that, family-owned businesses are responsible for the majority of the country’s gross domestic product (GDP). What … Read more

Last updated: 2017-10-25 10:33:02 Having a thorough understanding of Canada’s tax law will provide you with everything you need to know about maximizing deductions and minimizing the amount you have to pay to the Canada Revenue Agency. Unfortunately, there is a lot to know when it comes to Canada’s ever-changing tax codes. That said, being aware … Read more

Last updated: 2017-10-24 13:21:06 In addition to the proposed legislation to reduce Canada’s small business tax rate to 9% (from 10.5%) by 2019, Canada Finance Minister Bill Morneau’s fall economic update also makes consequential adjustments to the dividend tax credit rate and enhances the Canada Child Benefit, among other changes. Finance recently announced that it would … Read more

Last updated: 2017-10-19 11:00:02 The government released further changes to their controversial July 18 proposals on private company tax planning, the third such release during Small Business Week. This announcement focused on the issue of converting income to capital gains and the tax advantages associated with this planning.  The government appears to be backing down on … Read more