Small Business and Self-Employed Income Tax in Canada
In Canada, the small business income tax rate is the income tax rate paid by a small business at the Federal level. It is not uncommon to find individuals setting up their means of livelihood. This is known as self-employment. Self-employment is not limited to freelancing. Owning a small business automatically makes you self-employed because …
Accounting Services for Small Businesses in Canada
Starting a business is a tall dream and not as easy as it seems. One of the reasons for starting any business is to grow your capital. To achieve this, you ought to lay a solid foundation in the financial aspect of your business from the beginning. Once you get this right, you are well …
Income Sprinkling: What You Need To Know
Starting January 1st, new measures came into effect that will affect anybody who has used income sprinkling to pay less tax on business earnings. Income sprinkling was a technically legal way to reduce your tax burden by paying family members dividend income from your business. Say you make $100,000: you could pay $24,809 on that …
Quiz: What Small Business Loan Is Right For You?
You probably got a loan, large or small, to start your business and you’re likely to be paying it back for quite some time. Your business won’t take a smooth trajectory from small business loan, to paying it off to rolling in profits: you might need another business loan or line of credit to …
Eight How-To Small Business Tips For Cutting Small Business Costs
It’s the small costs that can sink a small business: Print cartridges, coffees on the company credit card, a new set of business cards- it all adds up. There are a few simple small business tips to save on operating costs, and perhaps enhance your business while doing so. Technology You’re never going to …
Pay Lower Business Tax by Following These 5 Smart Tips
When it comes to business, taxes are a way of life. You have to make regular payments to the Canada Revenue Agency (CRA), or your business will cease to exist. However, that does not mean you have to pay your taxes blindly. There are steps that you can take to minimize your company’s tax burden. …
4 Tips Every Small Business Owner Needs to Know to Save Time and Money
Hard-working small business owners like you need to all you can to save money without compromising the quality of the goods and services you provide or receive. Did you know that one way you can do that is by ensuring your financials are kept accurate and up-to-date? Here are four useful facts about small business …
