Corporate income tax is a critical aspect of doing business, and understanding its intricacies is essential for financial planning and compliance. In this blog, we will explore corporate income tax, its nuances, and how it impacts businesses. Whether you're a small business owner or an established corporation, this guide will provide valuable insights.
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Understanding Corporate Income Tax: A Comprehensive Guide for Businesses
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Small Business Owners and Personal Taxes: What You Need to Know
Small business owners often search for ways to optimize their tax situations, and understanding common deductions, tax-advantaged accounts, and meticulous record-keeping are pivotal in this quest. In this blog, we will delve into these aspects to provide a comprehensive understanding of how they can benefit your small business.
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The Benefits of Hiring a Small Business Accountant
A small business accountant can be an invaluable asset for entrepreneurs starting a new venture. Starting a small business can be a thrilling adventure, but it comes with many responsibilities, including managing finances. While some small business owners may be able to handle their own bookkeeping and accounting, it can quickly become overwhelming and time-consuming. That's where a small business accountant comes in. Hiring a professional accountant can be a game-changer for small businesses, allowing owners to focus on their core competencies while leaving financial management to the experts.
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The Benefits of Bookkeeping for Small Businesses
Bookkeeping is a critical aspect of managing a small business. As the backbone of the global economy, small businesses rely on proper bookkeeping to thrive. Despite this, many small business owners tend to overlook its importance, focusing instead on daily challenges. However, bookkeeping is an essential component of any successful small business. It involves the systematic recording and organizing of financial transactions, which is crucial for making informed business decisions.
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How Chartered Accountants Help Businesses Maximize Tax Savings
For businesses, taxes can be a major cost and a complex undertaking to handle. However, chartered accountants are available to offer their expertise. These financial professionals possess extensive knowledge and experience in tax planning and can assist businesses in maximizing their tax savings. By utilizing their specialized knowledge, businesses can reduce their tax liabilities and retain a larger portion of their earnings.
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Do You Live and Work in Canada? Here’s How to Earn a $2,000 Tax Credit
Original Article Source Credits: Yahoo Finance , https://ca.finance.yahoo.com/
Article Written By: Christopher Liew, CFA
Original Article Posted on: June 15, 2021
Link to Original Article: https://ca.finance.yahoo.com/news/live-canada-earn-2-000-200024809.html
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Tax-Saving Tips For Canadian Taxpayers
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: Andrew Beattie
Original Article Posted on: May 6, 2021
Link to Original Article: https://www.investopedia.com/articles/pf/07/canadian_tax.asp
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CRA tax tips for the self-employed
Original Article Source Credits: Advisor's Edge, https://www.advisor.ca
Article Written By: Staff
Original Article Posted on: April 7, 2021
Link to Original Article: https://www.advisor.ca/tax/tax-news/cra-tax-tips-for-the-self-employed
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Canada Revenue Agency: Big Changes Coming to Your 2021 Income Tax Bracket
Original Article Source Credits: The Motley Fool , https://www.fool.ca/
Article Written By: Puja Tayal
Original Article Posted on: February 15, 2021
Link to Original Article: https://www.fool.ca/2021/02/15/canada-revenue-agency-big-changes-coming-to-your-2021-income-tax-bracket/
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4 Tips for Improving Your Small Business Bookkeeping
Original Article Source Credits: quickbooks, https://quickbooks.intuit.com
Article Written By: QuickBooks Canada Team
Original Article Posted on: NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/bookkeeping/ways-improve-small-business-bookkeeping
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Did you receive double CERB payments? The CRA wants its money back
Original Article Source Credits: Global News, https://globalnews.ca
Article Written By: Emerald Bensadoun
Original Article Posted on: October 27, 2020
Link to Original Article: https://globalnews.ca/news/7424806/cra-double-payments-cerb
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TFSA Pension: How a Retired Couple Can Earn $8,300 in Tax-Free Income and Avoid OAS Clawback
Original Article Source Credits: The Motley Fool , https://www.fool.ca/
Article Written By: Aditya Raghunath
Original Article Posted on: October 18, 2020
Link to Original Article: https://www.fool.ca/2020/10/18/tfsa-pension-how-a-retired-couple-can-earn-8300-in-tax-free-income-and-avoid-oas-clawback/
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Feds score big with extra funding of CRAs business compliance programs
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: October 9, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/feds-score-big-with-extra-funding-of-cras-business-compliance-programs/
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Understanding Canadian Self-Employment Tax Forms
Original Article Source Credits: Intuit and QuickBooks , https://quickbooks.intuit.com/
Article Written By: QuickBooks Canada Team
Original Article Posted on: NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/self-employed/canadian-self-employment-tax-forms/
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Everything you need to know about RESPs and how to minimize your familys tax liability
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Jamie Golombek
Original Article Posted on: Sep 04, 2020
Link to Original Article: https://financialpost.com/personal-finance/taxes/everything-you-need-to-know-about-resps-and-how-to-minimize-your-familys-tax-liability/wcm/c0e8ae06-3761-47c5-a7bf-71f36b242b28/
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How to Save Money - 6 Simple Steps for a Healthier Financial Situation
Original Article Source Credits: Greedyrates , https://www.greedyrates.ca/
Article Written By: Meagan Loose
Original Article Posted on: August 18, 2020
Link to Original Article: https://www.greedyrates.ca/blog/how-to-save-money/
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Tax brackets: How to prepare and file your Canadian small business taxes
Original Article Source Credits: Intuit and QuickBooks , https://quickbooks.intuit.com/
Article Written By: QuickBooks Canada Team
Original Article Posted on: NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/taxes/small-business-tax-bracket/
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CRA adds T4 reporting requirements to validate benefit payments
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: August 27, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/cra-adds-t4-reporting-requirements-to-validate-benefit-payments/
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CRA extends tax payment deadline to Sept. 30
Original Article Source Credits: Advisor’s Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: July 27, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/cra-extends-tax-payment-deadline-to-sept-30/
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Canada Revenue Agency: How Retirees Can Earn More Money and Avoid the OAS Clawback
Original Article Source Credits: Yahoo Finance , https://ca.finance.yahoo.com/
Article Written By: Andrew Walker
Original Article Posted on: August 7, 2020
Link to Original Article: https://ca.finance.yahoo.com/news/canada-revenue-agency-retirees-earn-120056413.html
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