Starting a business in Calgary is a serious and challenging venture. This is especially true if you’ve never done it before. For anyone who is considering setting up their own company, here are seven essential steps to covering the fundamentals.
Have Your Final Goal In Mind
Decide whether you want your business to grow into a […]
Identity theft is not just a problem for individuals. Businesses in Calgary are tempting targets for the bad guys, and falling victim to an identity theft can put even the most profitable and best-run company in jeopardy.
If you are not taking proactive measures to protect your business and your workers from identity theft, you are […]
Hiring new employees is a daunting task if you’ve never done it before. Making the wrong choice can create terrible problems in your business, preventing growth and causing unnecessary stress. That’s why it is so important to approach recruitment carefully, taking time to choose your future employees. This article shares five tips to help you […]
Occasionally, taxpayers may receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA). In all these cases, the communication requests personal information, such as a social insurance, credit card, bank account, and/or passport numbers, from the taxpayer.
These fraudulent communications typically insist that this […]
Productivity is something that should be on every small business owner’s Profit & Loss statement. It can have one of the biggest impacts to your bottom line. Trying to run a small business and be productive can lead to long hours in which little work gets done. It is not usually laziness that is the […]
Although there are still a few hardy souls that fill in their tax forms by hand and mail them in, the vast majority of self-preparers use one of the software or online based tax programs to calculate and e-file their income taxes each year. This is much easier than the old way of doing taxes, […]
These changes affect you if you are:
an employee who contributes to the Canada Pension Plan (CPP), whether you’re just starting your career or you are planning to retire soon;
a self-employed person who contributes to the CPP;
between the ages of 60 and 70 and you work while receiving your CPP retirement pension (or […]
Every year, small business owners must deal with the process of filing income tax. There are some great tax deductions available for small and home businesses. The following list is not complete, but it contains a number of items small business owners sometimes overlook.
Deductions Allowed for Home Office
The home office and its contents must be […]
Canadians file more than 26 million individual income tax and benefit returns each year, and all are electronically analyzed. Based on this analysis, CRA selects certain returns for review because they are high-risk. Other returns are selected based on a random sample used to measure non-compliance for all taxpayers. CRA has four main review programs:
1. […]
If you think that paying for your employee’s disability premiums is always a good thing, think again. If you provide your employees disability as a nontaxable fringe benefit, payments they receive upon their disability will be, in most cases, FULLY taxable to them!
Payments received due to disability are not taxable if:
Your employees paid the premiums […]
