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Last minute tax saving for corporations

on Sat, 12/19/2015 - 09:07

"Entrepreneurship and Small Business" series, #8 (#7 Business budget made easy; #6 The advantage of a business account; #5 How to pay yourself effectively; #4 How to manage your business; #3 Things to consider when you start your business; #2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business; #9 The federal disaster to small businesses and working class

If you hold a corporation, there are some strategies at the year end you can consider to lower your tax bill:

Return income back to corporation

Over the year, you probably had

What does 2014 budget means to YOU?

on Wed, 02/12/2014 - 14:44

As a layman, big plans get to us slowly, this budget the government delivered had some small plans for us.

1. Canadians no longer have to "apply" for GST/HST credit on tax returns. CRA will calculate for us "automatically".

2. Stopping banks from charging to provide credit card bills in the mail, that might expand to wireless phone bills too.

3. Income split to minor more flexible

4. Lowering credit card costs for businesses & increase transparency on merchant fees.

5. New innovation fund & youth employment program, together in "helping" to match older workers in job matching to keep

Business budget made easy

on Sat, 08/10/2013 - 20:56
"Entrepreneurship and Small Business" series, #7 (#6 The advantage of a business account; #5 How to pay yourself effectively; #4 How to manage your business; #3 Things to consider when you start your business; #2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class
 
Lots of business owners asked me: how do we manage our business finances?? How do we come up with a calculation of how much we spend on marketing (that's the

How to manage your business' finance?

on Sun, 07/28/2013 - 14:23

 

While you are running your business, you are actually one of the most luckiest people on earth as most of us won't get into something we don't like and run a business on, having said that, you are working on something you enjoy and lots of people (maybe you had that experience too), they hate their jobs…
 
You believe in what you do, and you do what you do best. Finance? Ugh! Not something everybody could be good at… So, what to do?
 
1. Keep business and personal separate
Most commonly mistake I see from small business owners is having their business and personal finances mixed

How to manage your business

on Tue, 12/25/2012 - 03:28

"Entrepreneurship and Small Business" series, #4 (#3 Things to consider when you start your business; #2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business#5 How to pay yourself effectively; #6 The advantage of a business account; #7 Business budget made easy; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class)

Now you have got most of your rhings set up and you had started your business for some time, these are things you might need to look into at this point so that you can

Things to consider when you start your business

on Mon, 12/24/2012 - 18:00

"Entrepreneurship and Small Business" series, #3 (#2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business; #4 How to manage your business; #5 How to pay yourself effectively; #6 The advantage of a business account; #7 Business budget made easy; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class)

You might have a great idea but running your own business is often more complex than you think.

What you should do before you quit your full time...

on Tue, 12/11/2012 - 13:55

"Entrepreneurship and Small Business" series #2, (#1 What needs to be prepared before you start your business; #3 Things to consider when you start your business; #4 How to manage your business; #5 How to pay yourself effectively; #6 The advantage of a business account; #7 Business budget made easy; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class)

Can't stand your boss? Frustrating on the job you have now? Are you fed up of working for someone else? At the same time, you have found something inspiring, you have passion for?

What needs to be prepared before you start your business

on Tue, 11/13/2012 - 14:31

"Entrepreneurship and Small Business" series, #1 (#2 What you should do before you quit your full time; #3 Things to consider when you start your business; #4 How to manage your business; #5 How to pay yourself effectively; #6 The advantage of a business account; #7 Business budget made easy; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class)

More and more people are starting their own businesses nowadays.