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Success Tips

FROM THE SUCCESS PEOPLETM

At KAFT CPA we’re here helping people achieve success, both in business and personally.  We’ve created this blog to provide you with expert accounting tips to help save your money and grow your business.

Small Business and Self-Employed Income Tax in Canada

Sep. 03, 2020

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

Sep. 02, 2020

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 …

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Filing Taxes in Canada? Here’s What’s New for 2018

Feb. 11, 2019

When you’re filing taxes in Canada, it’s vital that you know the information that is most pertinent. By learning about potential writings, filing deadlines, and other matters, you’ll avoid mistakes and get the return that you need. As a Canadian citizen, it’s your obligation to stay up to date with such information. Follow these steps …

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Growing A Business Without Losing What Makes You Special

Dec. 02, 2017

We covered in a previous post how you can carve out the time to build your small business into a medium business. There are going to be a lot of challenging moments when you’re growing a business and scaling up, but the main one is keeping what made you start the business in the first …

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5 Tax Incentives For Small Business Owners In Canada

Apr. 17, 2018

Owning a small business in Canada has quite a few perks. One of the biggest is the fact that the Canadian government offers tax incentives for small business that surpass other countries. When you write off the applicable business expenses under the CRA’s Statement of Business or Professional Activities, you may decrease your taxes payable …

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3 Ways a Small Business Accountant in Lakeland, Alberta Can Help Your Business Grow

Aug. 25, 2018

While there’s a lot that can go on with your expenses without the help of an accountant, those things can swing your way if you employ one. A small business accountant doesn’t have to be a full-time position. You could invite them to your offices once a week just to keep things in order. Here …

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5 Signs It’s Time to Hire a Bookkeeper for Your Alberta Business

Sep. 22, 2018

There will come a point in your entrepreneurial journey when you need to hire a bookkeeper. Even if you do great business accounting on your own, you won’t be able to effectively document your gains and losses by yourself. You still have the rest of your business to worry about. Today, most business owners debate between …

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Calendars and Calculators: Canada Tax Deadline Dates to Know

Dec. 04, 2018

Many Canadians either don’t file their taxes or don’t file them on time. Businesses are just as likely not to file or pay on time. It’s hard to file on time if you don’t know the Canada tax deadline. For the upcoming tax filing season, there are a few dates you should keep in mind. …

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What is the GST Credit in Alberta, and How Do I Qualify?

Jan. 25, 2019

In a survey conducted by the Toronto Daily Bread Food Bank, it was discovered that 25% of users hadn’t filed taxes, and those statistics are similar across Canada and even in Alberta. The same survey estimated that as many as 10% of low-income families in Canada are not getting the GST credit they are entitled …

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5 Things to Know About Filing Business Taxes in Alberta

Nov. 07, 2018

Did you know that Alberta has some of the most generous tax incentives in Canada for small businesses? If you’re planning on moving to Alberta, or you’re just starting a business, here are some basics about filing business taxes in Alberta. While on a federal level your business tax obligations are the same anywhere, the …

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