Last updated: Feb. 4, 2024
Tax season can be a daunting time for small business owners in Canada. Being well-prepared for tax time is important, as obligations to the Canada Revenue Agency (CRA) and tax laws can be complex. Here we provide you with a comprehensive, printable small business tax preparation checklist that lists all the … Read more
Last updated: Jan. 26, 2024
If you’re self-employed or a small business owner, saving for retirement comes with a unique set of challenges, which may include: You lack access to an employer-funded savings plan. You’re putting as much of your own money into the business as possible. You’re extremely focused on the growth of your … Read more
Last updated: Jan. 25, 2024 Take note of the tax filing and payment deadlines for 2024 (2023 tax year) so you don’t end up paying interest or penalties on late filing or payments. Individual tax deadlines Individual tax returns are due April 30, 2024. If you or your spouse or common-law partner carried on a … Read more
Last updated: Jan. 10, 2024 Every Canadian incorporated business is required to create and maintain an official record of its activities and transactions, which is known as a minute book. The Canada Business Corporations Act has established a set of requirements for what must be included in these corporate minute books. As a business owner, … Read more
Last updated: Dec. 29, 2023 Filing taxes can be taxing, even for small business owners who love numbers. That’s because Canada’s tax laws are always in a state of flux and changing from year-to-year. The Canada Revenue Agency (CRA) plays a vital role in ensuring the accuracy and compliance of tax filings. However, there are … Read more
Last updated: Dec. 22, 2023 Most small business owners use some of their personal assets to get their businesses up and running. In fact, banks want to see that you have a personal stake in the business before lending any money. In addition to seeing you use your personal money, this can also include using … Read more
Last updated: Dec. 22, 2023 If you’re self-employed, you already know how stressful tax preparation and planning can be – keeping track of receipts, staying up-to-date on the Canada Revenue Agency’s policies, and ensuring you’re capturing all of your deductions and expenses. Luckily, we have 7 tried-and-true tax tips that will help you stay on track … Read more
Last updated: Dec. 22, 2023 Congratulations! You’ve decided to start your own business. There’s probably a million different things running through your head right now. And before you order business cards and a World’s Best Boss mug for your desk, you’ll have to give some thought to business structure. Sole proprietorships, partnerships and corporations are … Read more
Last updated: Dec. 22, 2023
Small business owners are entrepreneurs. Known for having great ideas, they’re passionate about their products or services and want to change the world. This laser-sharp focus often won’t leave them with enough time or energy to handle their taxes. It’s never too early to start thinking about tax planning strategies … Read more