by romzbajalan@gmail.com | Sep 15, 2016 | Businesses, news, Tax, Tips
One of the most misunderstood business deductions is the “meals and entertainment” claim. Either people forget to save their receipts and don’t claim it at all, or they treat their whole party because it’s a business write-off. The basic rule...
by romzbajalan@gmail.com | Sep 13, 2016 | Businesses, GST, news, Tax, Tips
You are putting in the long hours and starting to feel a bit burned out. Business is not as usual. You are finding it a struggle to keep up with all the business expenses not to mention the upcoming tax bill around the corner. Pretending there is no problem does...
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...
