Corporate Taxation

Staff meals and social events – What you need to know
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Staff meals and social events – What you need to know

Bookkeeping, Business Management, Corporate Taxation, Payroll and Taxable Benefits

Staff meals and social events – What you need to know

By Webmaster|2017-01-02T20:23:16-07:00January 17th, 2014|Bookkeeping, Business Management, Corporate Taxation, Payroll and Taxable Benefits|

Alot of people ask me about whether or not they can write off in full their Christmas parties or other social events thrown for their employees. In short, the answer is yes. In general, all meals and entertainment provided, whether they are for clients, subcontractors, or employees, are 50% deductible. However, there are certain exceptions to this rule. There are about 8 other special situations this could apply but for this posting we will just talk about your employees and [...]

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Choosing a tax advantageous fiscal year end for your company

By Webmaster|2017-01-02T20:23:17-07:00January 7th, 2013|Business Management, Corporate Taxation, Personal Taxation|

If you have just incorporated, a fact you may not be aware of is that you can choose when your fiscal year ends. A lot of companies choose a December 31st year end without really thinking about some of the advantages that choosing an alternative fiscal year end can bring. For tax planning purposes, hands down, choosing a fiscal year end between July 1st and December 31st is the best fiscal year end you could choose. Your tax planning options [...]

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As a small business owner, should you pay yourself a salary or dividends out of your company?

By Webmaster|2017-01-02T20:23:17-07:00December 21st, 2012|Business Management, Corporate Taxation, Payroll and Taxable Benefits, Personal Taxation|

In Canada, many small business owners don't realize that they have some options in terms of the type of remuneration they can receive from their company. Each type of remuneration has its advantages as well as disadvantages. Due to the unique circumstances of each business there is never a right answer as to which type of remuneration is best. To you the owner, the type of remuneration you would like to receive depends on your short and long term goals [...]

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Setting up your company payroll

By Webmaster|2017-01-02T20:23:17-07:00December 7th, 2012|Business Management, Corporate Taxation, Payroll and Taxable Benefits, Personal Taxation|

Many new owners are sometimes not aware that even though they have incorporated, there is a liability to the government with regards to company payroll. As an employee, what you do know is that you receive your pay cheque each month with CPP, EI, and tax withholdings. However, what many don't know is what the employer has to do with those withholdings. To comply with CRA, if you have monthly payroll, you must remit the paycheque withholdings to CRA by [...]

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Advantages and Disadvantages of Incorporating Your Business

By Webmaster|2017-01-02T20:23:17-07:00November 9th, 2012|Accounting, Corporate Taxation, Personal Taxation|

One of the most common questions that the small business owner has is whether they should incorporate their business. It is question that is difficult to answer as it depends on your individual needs, financial capacity, and the size of your company. The following are some of the advantages and disadvantages to incorporating your business. ADVANTAGES 1. Tax Deferrals & Access to the Small Business Deduction Arguably the best reason to incorporate is because of the tax deferrals it brings. [...]

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Corporate Taxation

January 17, 2014

Staff meals and social events – What you need to know

Staff meals and social events – What you need to know

January 7, 2013

Choosing a tax advantageous fiscal year end for your company

December 21, 2012

As a small business owner, should you pay yourself a salary or dividends out of your company?

Setting up your company payroll

November 9, 2012

Advantages and Disadvantages of Incorporating Your Business