Bookkeeper year-end checklist of what to provide to the acocuntant.
The June edition of Business Matters is available directly from our website along with past copies as well as Tax Tips and Traps. Download Business Matters In this Edition …. Salary or Dividends The way a bonus is paid has a significant effect on corporate and personal after-tax income. You’re Hired Human rights legislation governs all hiring practices. Improve the…
If you use a car for business or your company provides a vehicle, the driving must be allocated between personal and business . This allocation is based on the total number of kilometers driven and the kilometers driven for business and the CRA requires that a log be kept. Why Track Kilometers? When we file a tax return, we must…
Buying an established business can be an attractive alternative to starting out from scratch: The business may have an established client base, the location may be successful, or provide an opportunity for growth. If you are looking to buy a business, be sure to carefully evaluate all aspects of the business before you jump in feet first. Know The Market And Reason For Selling…
If you have a business corporation, your income will normally consist of salary or dividends. However, given the right circumstances, your corporation may be able to lend you money tax-free. There are some things that you need to be aware of. First, if the company extends you a low or no-interest loan, there will be a taxable benefit added to…
If you own your private corporation and borrow money you should consider the income tax consequences. The Income Tax Act contains a series of rules that may have income tax consequences for the person receiving the loan from the company. In the context of this article, the term loan means any form of debt the shareholder or family member has to…
