Small Business Taxes

Finance Minister Bill Morneau issued an announcement outlining how he intends to proceed with changes to how passive income earned in private companies is taxed.
While the government stated that it is committed to its proposed private company tax measures to address tax planning involving income sprinkling effective January 1, 2018, it is cancelling changes to limit access to the Lifetime Capital Gains Exemption (LCGE).
To seamlessly operate their business, startups should consider hiring a managed accounting service for all of their tax planning, bookkeeping and business planning needs.
Voice your concern about the proposed amendments to how private corporations and small businesses will be taxed. Actions you can take include email Members of Parliament and sign petitions.
There are many proposed small business tax changes which can lead to higher taxes; but 3 key items stand out for small business: Sharing Income, Excess Cash Reserves, and Dividends to Extended Family
There are four business types in Canada, understanding the differences can help a business limit liability, minimize taxes, and maximize assets.
In addition to helping prepare and file your annual income taxes, an accounting professional should look below the surface to see what help you need specifically for your small business.
The Canadian Revenue Agency has proposed legislation that will reduce or even eliminate many of the current tax benefits of a private corporation.
Small business tax tips and free lunch on August 23 at the Smoky Lake Curling Club in Smoky Lake, Alberta. All farmers, small business owners and self-employed individuals invited.
Business owners that do not file their tax returns or do not report all income can face stiff penalties or even prosecution. The tax experts at FBC will make sure that never happens.
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