If you have a website or a blog and you charge for advertising, links, or reviews, you must report the income on your Canadian income tax returns. Send invoices to your clients and customers. If your invoices exceed $30,000 in the last four consecutive calendar quarters, you must register for HST/GST. Once you are registered, […]
If a corporation (including a for profit or non-profit corporation) fails to deduct, withhold, remit or pay amounts held in trust for the Receiver General for Canada (CPP, EI and GST/HST), the directors of the corporation at the time may be held personally liable along with the corporation to pay the amount due. This amount […]
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as a van, bus, pickup truck, station wagon, SUV, or other truck). Many individuals use their automobile for work or business and incur personal expenses in doing so. It is important to note that only expenses of […]
A high gross margin is often viewed as the most important sign of a company in good financial health. Before you can earn net profit, you need to achieve a strong gross profit margin.
Calculating Gross Profit Margin
Gross profit margin is the portion of your company’s sales retained as profit after you account for costs of […]
Financial advice is easy to come by. Unfortunately, not all of it is usable, or even accurate. For example, many would tell you to skimp on your coffee and haircuts, when many rich people would actually disagree. Such behaviour can promote poverty and deprive you of the basic aim of financial independence: joy.
Taking away your […]
2016 is upon us. It’s time once again to take advantage of the many personal and business tax-planning opportunities that are still available. This post provides numerous ways to save on taxes for 2015 and beyond.
Contribute to Your RRSP
The most popular tax tool available to taxpayers is investing in a registered retirement saving plan (RRSP).
Contributions to RRSP’s are […]
Are you planning to become the next big e-commerce startup? Have you finally decided to embark on the journey of realizing your entrepreneurial dream? If so, there are some legal aspects you will need to take into consideration to avoid potential legal issues down the road. This article will discuss 3 common mistakes Canadian e-commerce […]
We just received notice of the new tax rates proposed for Albertans for 2016. These aren’t law yet but wanted to give you some notice of what’s ahead.
This is no doubt good news for some of you and bad news for others.
Tax Brackets
Combined Personal Tax Rates
From:
To:
2014
2015
2016
$1
$44,701
25.00%
25.00%
25.00%
44,702
89,401
32.00%
32.00%
30.50%
89,402
125,000
36.00%
36.00%
36.00%
125,001
138,586
36.00%
36.50%
38.00%
138,587
150,00
39.00%
39.50%
41.00%
150,001
200,000
39.00%
39.75%
42.00%
200,001
300,00
39.00%
40.00%
47.00%
300,001
+
39.00%
40.25%
48.00%
Many small businesses need high-quality office space, but with only a few people on the payroll, it’s often difficult to justify the cost of accommodation. This sometimes forces small and family-owned businesses to put up with unsuitable working spaces. Shared office accommodation is one solution that helps many small businesses work effectively. Find out how […]
The concept of supply chain management has taken off in recent years, as the manufacturing process becomes more complex and companies face unique legal and liability challenges. Supply chain management classes are now standard college fare, not only for MBA candidates but for undergraduates as well.
Most young entry-level managers today are intimately familiar with supply […]
