If you’ve run a business or know someone who has, chances are you’ve talked about what you can write off as an expense as it also reduces the taxable profit that you’d have as a business owner. It could have gone something like this: According to the CRA,...
Remember how each individual must file their income tax? Well, the same goes for corporations. What is a T2 form? The T2 form is the taxpayer’s form for all Canadian companies to file income taxes. Businesses must submit T2 forms within six months of the end of...
As with employment income, your small business income is subject to tax. If you are new to the Canadian business environment, you may not be familiar with the tax laws that apply to small businesses and the self-employed. This article will give you an overview of how...
More and more small businesses are using cloud technologies for their accounting systems. But before we get to what cloud accounting is, we should start with what is a cloud? “Cloud” helps you access data and software from anywhere and anytime. It is the...
As a self-employed person or even as an employee, you will no doubt experience tough work weeks and long hours as tax season is in full swing. Even the most dedicated specialists can find the fast pace and long hours challenging. How can you avoid burnout during the...
As business owners, you’ve surely heard this advice: You need to have a tax strategy in place and take care of your taxes all year round, not just during tax season. This advice is given over and over again because it works. Acting before tax season will make...
