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Tips for Small Business (Taxable vs. Non-taxable Benefits)
Taxable Benefits will be one of the first thing the CRA auditor examines if your company is ever subject to a payroll audit. Unfortunately, most small business owners either fail to disclose these types of earnings or report them erroneously due to the complexity of...
Why Your Company Required Services of Fractional CFO?
Monetary administration is one of the most important tasks in any company. It is a task that must be done carefully and properly. More recently, there has been a trend to allow small and medium enterprises (SMEs) to compete less disadvantageously with large...
Tax return plan for Canadian Doctors
If you are working in Canada as a Doctor, it is necessary to be aware with the ever-changing tax policies and regulations. Majority of doctor perform both via an integrated corporation or as sole proprietors. In this article, we’ll assist you recognition nowadays on...
Director’s Liability for Unpaid Taxes
Background on Director’s Liability for Taxes: Involving the liability of directors for unremitted GST/HST, the Tax Court of Canada recently decided a case. In general, for a variety of corporate liabilities a corporation's directors can be held personally liable to...
Determining whether or not a trip is a taxable benefit
Determining whether or not a trip is a taxable benefit Might be you are required to visit any sunny location like Mexico or Dominican Republic. The purpose of this visit is to attend the conference trip as an advisor. The trip value is taxable subjected to your role...
Calculate & Minimize Capital Gain tax on Real Estate in Canada
Calculate & Minimize Capital Gain tax on Real Estate in Canada What exactly is a capital gain or loss? Selling a capital asset or an investment and the proceeds of the sale exceed the fitted cost base of the asset, capital gain is incurred. On the other hand, if...
Tax Obligations of Amazon Seller
Tax Obligations of Amazon Seller Taxes and death are inevitable. In Canada, a business owner must understand and fulfil his tax related obligations in number of ways. Not only filing of those tax returns is important, but timely payment is also important to avoid...
How to Manage Amazon Finances?
How to Manage Amazon Finances: Anyone with an internet connection and a little time can now shop on Amazon or similar e-commerce platforms like ebay, Etsy etc. This boom in online buying has boosted e-commerce entrepreneurship. However, with more business comes more...
Should you Incorporate Your Small Business?
Should you Incorporate Your Small Business? This is a question that many small business owners ask at various stages of their entrepreneurship journey. The answer is not as simple as it is thought. There are a number of factors to be considered before arriving at any...
Million Dollar Question: Should I buy (finance) or lease a capital asset?
Small business owner takes a number of decisions day-in and day-out. However, there are few decisions that demand significant thought process because they influence a long term impact on the cashflows, tax liability and eventual growth of the business. One of those...