RSSCategory: Business Tax Tips

Mar

21

Home Office Expense Deduction

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If you are looking to deduct home office expenses, the following Home Office Expense Deduction Check List will help guide you as to what can be expensed on your income tax. Principal (>50%) place of employment, i.e., at least 50% of duties of employment are performed at home, OR Home space is used exclusively for […]

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Jan

14

SELF EMPLOYED OR EMPLOYEE TAXES?

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Self Employed Taxes or Employee? EMPLOYMENT INCOME see CRA information guide (RC4110) It is important to distinguish between an employee and a self employed individual for tax purposes as the deductions available in computing net income differs significantly for each of the above. So if you are wondering whether self employed taxes or employee taxes apply to […]

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May

7

Accounting Montreal Testimonials

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We asked some of our Accounting Montreal customers to provide us with feedback on our services with a testimonial and this is what some of them had to say: “My Partner and I have used the accounting services of Ian Singer both for our business and our personal tax needs since 2008. He has always […]

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Dec

6

Inter vivos and testamentary trusts

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An inter vivos trust is a trust created between living persons, as opposed to a testamentary trust, which arises upon the death of an individual and as a consequence of that death. A testamentary trust is usually established in the will of the deceased but it may also be created pursuant to a court order. […]

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Nov

14

Refundable Dividend Tax on Hand, Part IV Tax, Dividend Refund

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Refundable Dividend Tax on Hand, Part IV Tax, Dividend Refund To ensure that tax deferral is not achieved by individuals earning investment income through the use of a private corporation including a public corporation controlled by an individual,  the law requires that a refundable tax be paid when investment income is earned by the corporation and […]

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Nov

13

Tax Deadlines

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Tax Deadlines, Canada Tax Due Dates The tax deadline for filing the income tax return of an individual is due April 30th of the following year. The due date for filing the income tax return of an individual who carries on business, or whose cohabiting spouse or common law partner carries on a business is […]

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Nov

3

Should you incorporate your business?

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 Should you incorporate your business? Here are three types of business structures showing you their advantages and disadvantages; 1) Proprietorship A sole proprietorship is one person business.  The income of the business is then taxed in the hands of the owner at personal income tax rates.  The income is considered income from self-employment, and is […]

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Oct

25

How to Save on Corporation Tax

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When first incorporating a company, you must choose a year-end date for tax purposes.  What you may not know is that you can pick any twelve-month period, following the date of incorporation, to be your fiscal year.  As such, why choose arbitrarily when you can wait and see which period is more convenient for you? […]

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