by romzbajalan@gmail.com | Sep 12, 2016 | Businesses, news, Tax, Tips
By far, the most common question we get from business owners is “Should I pay myself dividends or wages?” Unfortunately, the answer is different for everyone. The first thing we recommend is to try to minimize the amount of money you draw out in the first...
by romzbajalan@gmail.com | Sep 12, 2016 | Articles, Businesses, news, Tax, Tips
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 means...
by romzbajalan@gmail.com | Sep 12, 2016 | Businesses, news, Tax, Tips
Do you believe in second chances? The CRA does to a certain extent. According to the CRA, the amount of previously unreported income in 2013-2014 was $813 million – over 14,000 cases. Find out below if you qualify for CRA’s voluntary disclosures program....
by romzbajalan@gmail.com | Sep 11, 2016 | Businesses, news, Tax, Tips
This is definitely one of the times to not stand out and be noticed. Below are some common red flags made by Canadians time and time again. 7 Ways to Draw More Scrutiny From the CRA: Not reporting all your income. Not only will you get reassessed but also...
by romzbajalan@gmail.com | Sep 10, 2016 | Alberta, Articles, Businesses, news
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...
by romzbajalan@gmail.com | Sep 9, 2016 | Articles, Businesses, news, Tax, Tips
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...
