Articles: Small Business Taxes

Charitable giving offers a powerful way to provide tax relief while helping a cause close to your heart.

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 Savings Plan (RRSP) contribution  … Read more

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 income tax rates. 2025 … Read more

The Canadian government’s 2024 Fall Economic Statement was released on December 16, 2024, and outlines various initiatives to strengthen the economy.

Donations can take many forms, but there are specific rules about what types of donations qualify for a tax break in Canada.

*UPDATED FOR 2024* The calendar year may be winding down, but there’s still time to create a strategy to lower your tax bill and boost your bottom line.  1. Long-Term Tax Strategy and Business Transition Plan  If you haven’t already developed a long-term tax strategy or business transition plan, it’s time to prioritize this. Wide-sweeping … Read more

While most Canadians are never subject to Alternative Minimum Tax (AMT), business owners who generate high income may find themselves subject to this alternative tax regime. 

The Canada Revenue Agency (CRA) has announced the 2025 Tax Free Savings Account (TFSA) contribution limit is $7,000.  Want to learn more about this investment option? Read on to learn the ins and outs of TFSAs – from finding your limit to accurately tracking your contributions. What is a TFSA? Since 2009 TFSAs have helped … Read more

The shift to remote work has become the new normal. One of the biggest questions is: what are my responsibilities when it comes to home office expenses?

Whether you sold off assets or hedged your bets before the new capital gains rules kicked in on June 25, understanding these changes is crucial.