Major Changes to Small Business Corporate Taxes

The federal government has proposed significant changes to the way that small business corporations will be taxed. Teri sits down with Robin Spiers to discuss Pi’s position on this. Teri Tetreault from PI Business Solutions provides valuable insight into the proposed tax changes in Canada. Who will this affect? Who …

December Newsletter

We got out our December newsletter with 3 days to spare this month. If you aren’t subscribed (or the email got lost in all of your holiday e-cards), you can go to our Newsletter tab at the top of the page to subscribe and see our previous issue. You can …

What’s a Business Owner to do about Minimum Wage Increases?

In our October newsletter, we showed how the real cost of the minimum wage increases is higher than is commonly discussed and that it is the business owner who shoulders those costs. This leaves a hard decision for the employer. A basic concept of accounting is that Revenue – Costs …

Tax Fraud – Not Worth It

Tax fraud is rampant and there seems to be no shortage of accountants willing to look the other way.  If your accountant is writing off expenses that are overstated, not only are you breaking the law, you will be facing some major fines putting your personal life and business on the …

Small Business Week Expo

75% of all new jobs created in Canada are from the small business sector.  Generally, small business is defined as fewer than 100 employees.  Canada’s economic growth greatly depends on entrepreneurship.  Entrepreneurs and small business proudly build their livelihoods on doing what they love. Often they possess the passion for …

How far did you drive?

If your job involves a lot of driving, there are significant deductions that are available to you. Whether you drive your own personal vehicle for work or your corporation owns a car that you use, it’s important to keep track of the kilometres you drive for work. There are three …

Keep your money in your corporation

Who wants to pay less tax? The best reason to incorporate your business is to save taxes. In Alberta right now, the highest personal marginal tax rate is 48% while the small business corporate tax rate is 13.5% and is set to be reduced to 12.5% in 2017. So, this …

Alberta’s Economy: A New Hope on the Horizon?

Some may venture to say we are at the bottom of the cycle.  Challenging times demand a tough mindset.  According to Alberta Venture, having a diverse economy than that of the 80’s and the predicted rise in oil prices all contribute to new beginnings for Alberta once again.  

Top 5 Worst Tax Expenses Claimed

Doing your taxes, business or personal, can lead to some late nights and can quickly become overwhelming.  If you find yourself rationalizing these type of far fetched claims below, you may want to call an accountant to help you find another way to minimize your taxes. From mydesk.com, below is …

How to save thousands in GST/HST remittances

When we meet new clients, one of the most common places we can help them save money right away is with GST/HST. Many companies are filing more often than they need to be and are therefore often paying unnecessary late-filing penalties. Or else they are paying their bookkeeper every quarter …