Business Debt Consolidation – is it the best option for me? Just like individuals, businesses can find themselves in a precarious position when it comes to their debt. Credit card misuse, unexpected cash flow change …
What is a tax audit? As explained on the CRA web site, auditing is a way for the Canada Revenue Agency to monitor and inspect GST/HST and income tax returns, excise taxes and duties, and …
What is a personal services business? The answer can be confusing, especially when you get into the tax jargon and lingo many companies use to describe it. Today, AF Accounting explains this business and why …
The idea of setting up a business in Canada is appealing to a lot of people. Get ready to bring your idea to life by thoroughly researching the Canadian market and by possessing a strong …
Whether you’re an individual with general tax inquiries or a business owner looking to hire a full time accountant, it is very important that you take some to understand the basics of what makes a …
As a small business owner, the number of tax deductions you are entitled to is impressive. You simply need to be aware of them and start preparing your documents as soon as possible to ensure …
Your corporate taxes are based on your business’ net income, not the actual sales. The federal corporate tax rate, for small businesses is 11%, for up to $500 000 in net income. If your company’s …
Handling calls from the CRA can be an intimidating ordeal. You and other business owners are often afraid that managing these issues will take up time and energy away from your growing business. We’ve highlighted …
Dividing your personal and business income is always challenging particularly when it comes to taxes. Once your business is incorporated, it becomes an independent entity: capable of being taxed, liable for lawsuits and all other …
Filing your taxes is an unavoidable responsibility, as a business owner. Keeping your financial records organized throughout the year will definitely help to simplify this task. Here are a few valuable tips to ensure you …