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It can be really difficult to know how to classify your truck driving services when it comes to the expectations of the Canada Revenue Agency. Perhaps you are an independent driver who provides transport services for multiple companies. You have no business name or business number. Or maybe you take on long haul contracts through…
One of the biggest issues that many small to medium businesses face is, non compliance problems with the Canada Revenue Agency. Often these are not intentional but are as the result of lack of knowledge or proper administrative procedures. It could include not keeping the proper books and records or incorrect receipts. …
It wouldn’t be a mistake to say that most businesses especially those in the small to medium category, welcome almost any type of help they can get to grow their business. If this is help that is being offered by the CRA though is going to be a warmly received? It goes without saying that…
As a small time Toronto business owner, no doubt you would receive good tax news from our government with open arms. When we read statements like a new tax move could save small businesses more than $550 million over the next two years it really seems impressive. This is referring to the Small Business…
We have talked about owning a second home for a variety of reasons like perhaps renting it out to generate some extra income. Then you may have purchased a second home with the idea of fixing it up and selling it for a profit which may be called property flipping. Now lets talk…
For the new business owner it can be quite a task hiring the new employee. For some it is a matter of seeing what skills an individual possesses and making the decision from there. What is forgotten is that setting up the employee/employer accounts with the proper government agency is time consuming and demands…
For those that have an established business, quite often the same employees have been working for the company for many years. While there is certainly a lot of paperwork that is created for employees, often what is forgotten about is the ROE which is the record of employment. Often employees experience a time away from…
Nobody wants to think about their taxes until tax time but here we are in the last quarter of the year already and for some they are scrambling around to see how they can make it so the current year will have less of an impact on them come tax filing time. This is the…
