by Webtax Admin | Dec 10, 2018 | small business tax accountants, Uncategorized
Did you know that the average Canadian-including small business owners in Canada- pay 42.5% of their income in taxes? That’s a lot of money. There are many expenses which small businesses can write-off in order to cut down on their taxes. If you run a business... 
by Webtax Admin | Nov 12, 2018 | Uncategorized
Everyone in Canada needs to pay their taxes. How you make your CRA payment can differ significantly depending on whether you are applying for individual taxes or corporate taxes. When it comes to paying taxes you have a couple of options. You can either pay them... 
by Webtax Admin | Aug 31, 2018 | Uncategorized
When you run a corporation you gain a tremendous amount of benefits. You can save on your taxes in various ways when you run a corporation or even a small business. One particular way you can save money through your corporation is by deciding whether it’s best... 
by Webtax Admin | Aug 28, 2018 | Uncategorized
HST or Harmonized sales tax is one of the many factors which makes Canada unique to other countries. The amount of HST you pay for your business or the amount of HST you charge to your clients varies significantly depending on which province you live in.... 
by Webtax Admin | Jul 24, 2018 | Bookkeeping, small business acounting
How do I do bookkeeping for my small businesses? Good bookkeeping is absolutely essential for you, no matter how big or small your business is. Bookkeeping involves recording your businesses sales, purchases, expenses, assets and liabilities and then compiling these... 
by Webtax Admin | Jul 12, 2018 | Accounting, small business tax accountants, tax
The answer to ‘how much GST/HST do I pay?’ depends on which province you live in. Goods and services taxes (GST), Harmonized sales taxes (HST), Provincial sales tax (PST), and Quebec sales tax (QST) are all forms of taxes which are charged by the... 
by Webtax Admin | Jul 10, 2018 | Uncategorized
The question of whether or not to incorporate your business is something that has probably popped up in your mind multiple times if you run a business. Just like any other procedure related to finances and tax, the answer to ‘should I incorporate my... 
by Webtax Admin | Jul 9, 2018 | Uncategorized
What is Bookkeeping? Bookkeeping builds the basic foundation of any financial statement for a business. Without proper bookkeeping, your financial statement can easily be created wrong and in turn, you could be losing out on a lot of money at the end of every year.... 
by Webtax Admin | Jun 29, 2018 | tax, tax planning
Tax planning is one of the absolute best ways you can ensure you pay minimal taxes at the end of the year. Everyone can benefit from tax planning, but those individuals who hold many assets or who run a business can benefit the most. The difference between... 
by Webtax Admin | Jun 29, 2018 | small business tax accountants, tax, tax planning
There have been many cases when individuals file their tax return and after filing it they realize they made one or more errors regarding the numbers they submitted. If you have made a mistake you do not have to panic or worry. The CRA is very open to... 