Finding Tax Savings for Small Business
Whether you are starting or looking to grow your business, the business structure you choose can have a massive impact on your profits and tax situation.
Join a representative from Loren Nancke Chartered Professional Accountants and learn accounting essentials, responsibilities and dates involved with managing a small business. You’ll discover the deductions available to you, the tax benefits of each structure and discuss when it’s time for your small business to incorporate.
WHAT WILL I LEARN?
- The differences between sole proprietorships, partnerships and corporations
- The tax implications of each structure
- What the CRA considers taxable income
- Hiring subcontractors versus employees
- Situations where you can claim tax deductions on automobile or home office costs
- The different financial statements and information required in each