Balancing the Books
Insights and Tips for Navigating Business and Finance
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If your corporation looks like an employee in disguise, the CRA can tax it at punishing rates. What a personal services business is and how to stay clear of it.
When a Canadian employer must issue a Record of Employment, the deadlines, the reason codes, what goes in each section
When corporate tax instalments start, quarterly versus monthly, the three ways to calculate them, and what interest and penalties apply
One Ontario owner-manager, $150,000 of profit, $80,000 of cash needed: the tax, CPP and RRSP outcome of salary versus dividends,
From choosing a year-end date to filing the T2: the deadlines, what your accountant needs, the adjustments to expect, and
Crossed the $30,000 threshold without registering? What you owe, how to back-date registration, when the Voluntary Disclosures Program helps, and
Most sales to customers outside Canada are zero-rated. Here is what that means, which exports qualify, the exceptions, and the
Who qualifies for the GST/HST Quick Method, the remittance rates by province, a worked Ontario example, and how to tell
The credits small businesses most often qualify for and least often claim — what they’re worth, who’s eligible, and the
Starting, hiring, incorporating, selling and closing — the five moments where the tax decision has to be made before the