Whats new for the capital gains exemption deduction The lifetime capital gains exemption deduction, if you dispose of shares in a qualified small business corporation, is $813,600, or $1,000,000 for a qualified farm property or qualified fishing property. If you… {Read more}
Category: Small Biz Advice
Capital Losses
Capital losses and deductions You can use your 2015 capital losses to reduce your current year’s income taxes by applying such losses against your 2015 capital gains. You must however be careful of the superficial loss rules preventing you from… {Read more}
Small Business with Cash flow problems?
3.5 Fixes To The Cash Flow Problems Killing Your Business When your small business suffers from cash flow problems, you risk having your financial problems spin out of control. You may miss payments to important vendors or even make critical… {Read more}
Number 1 problem new small business – Taxes
The #1 Problem New Small Business Owners Keep Making Starting a small business is not only an incredible accomplishment, but also the start of a journey with great responsibility. As most successful entrepreneurs know, running a successful business requires help… {Read more}
Cash flow problems for small business’
Are Hidden Costs Decimating Your Bottom Line? As a small business owner, you work tirelessly every day to keep your business afloat and, hopefully, see it grow. You seem to be making headway – attracting new customers, finding better ways… {Read more}
Your tax and benefit information
Get answers about your tax and benefit information online at the CRA – it’s easy and quick Did you know? If you have a question about your income tax or the benefits you are currently receiving, you can log into My… {Read more}
Managing your small business
3.5 Reasons To Seek Small Business Tax Help Unless you get thrills from poring through convoluted tax language or performing complicated calculations, managing your small business tax responsibilities is no fun. Odds are, you didn’t start your business so you… {Read more}
Your small business profits
3 Severe Errors Draining Your Small Business Profits The life of a small business owner is filled with challenges. Every decision you make has an impact on the financial health of your business. Building up your small business profits requires… {Read more}
Life in the Tax Lane – December 2015
Life in the Tax Lane – December 2015 Video Video Tax News’ “Life in the Tax Lane” video for December includes discussion of possible changes coming for Professional Corporations, audits of owner managed companies, related to the Small Business Deduction,… {Read more}
5 Awful Small Business Tax Tips You Should Ignore
Tax Tips that won’t help your business. When it comes to taxes, there’s no shortage of “expert” advice. Since we all must deal with taxes at least once a year, many people believe they understand everything they need to know about… {Read more}