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, understanding … 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 several … 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 personal … 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 throughout … 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 the … 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
Last updated: Dec. 22, 2023
Does the thought of organizing your receipts fill you with dread? It can seem overwhelming to keep track of your receipts and record keeping on top of the demands of running your own business. It may not be at the top of your list, but if you’re self-employed or a … Read more
Last updated: Dec. 22, 2023
When you’re a small business owner, long-term financial security and retirement planning are critical. Proactively investing today in your future cash flow, taxes, and healthcare expenses can help set you up for a financially stable retirement. One valuable tool Canadian business owners can use to help them meet their retirement … Read more
Last updated: Nov. 22, 2023 As a business owner in Canada, you’ve likely faced the decision of how to pay yourself from your incorporated business. Two common options are paying yourself a salary or taking dividends, though some business owners choose a mix of both. The method you use to pay yourself personally from your … Read more