6 Ways to Reduce Expenses in Your Business
February 21, 2020
There are a variety of tactics you can employ to reduce expenses in your business and prepare for unforeseen costs that crop up over the course of the year.
Accounting and Financial Resources
When it comes to accounting and taxes, the more you know, the better you can manage your finances! WTC has the resources you need to understand accounting, the Canadian tax system and maximize your returns.
Using Working Capital to Monitor Business Health
February 14, 2020
Businesses could go bankrupt if they are not profitable, but that’s not the main cause. They go bankrupt because they run out of cash and can’t meet their payment obligations as they come due.
T4 and T5 Deadlines Are Coming Up
February 7, 2020
If you have employees or paid dividends last year, you are required to file a T4 or T5 with the CRA. Both T4 and T5 deadlines are coming up.
How to Take Control of Your Cash Flow
January 31, 2020
Phrases like “Cash is king” and “Cash is the lifeblood of your business” emphasize the importance of cash in running
TFSA and RRSP Reminder
January 24, 2020
As we are near the end of January and tax season around the corner, I would like to remind you about the two tax savings opportunities: TFSA and RRSP.
New Year’s Resolution for Your Business
January 17, 2020
Since cash is the lifeblood of your business, it makes good sense to review the overall financial health and see where you can make improvements. Here are 9 useful tips that will help you.
2020 Corporate Tax Rates Update
January 10, 2020
As we begin a new year, it’s wise to stay informed about the latest tax rates. Here are the latest combined 2020 corporate tax rates.
What Is Your Corporate Tax Instalment Obligation?
January 3, 2020
Corporate tax instalments are advance payments made to the CRA to cover taxes for the current tax year. The required amount and due date will vary.
How to Choose a Fiscal Year-End Date
December 27, 2019
There are a number of factors that you should consider to determine the optimal fiscal year-end date for the business.
Shareholder Loan and Its Tax Implications
December 20, 2019
When a shareholder borrows from the business and does not repay within a year, the loan will be included as income on the shareholder’s personal tax return.
FAQ for Business Expense Tax Deduction
December 13, 2019
You may have specific questions about the different types of expenses. We will go over a list of FAQ for business expense tax deduction.
Does Your Business Need to Charge and Collect Sales Tax?
December 6, 2019
Charging and collecting sales tax is part of your duty for doing business here in Canada. Customers pay GST/HST, while businesses are responsible for collecting the tax.
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WTC has the resources you need to understand accounting, the Canadian tax system and maximize your returns.