There are a number of factors that you should consider to determine the optimal fiscal year-end date for the business.

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.

You may have specific questions about the different types of expenses. We will go over a list of FAQ for business expense tax deduction.

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.

Taking some time to review your financial affairs may yield significant tax savings. Here is a list of common year end personal tax planning tips.

Maximizing business deductions can help you lower the tax bill. Let’s go over a list of common business expenses you can deduct.

To ensure business claims are legitimate, you need to to understand the criteria to deduct business expenses. We will go over the 4 criteria used by the CRA. 

If you are running a business here in Canada and you are registered for the GST/HST, you can claim back the sales tax paid on business purchases.

Some tax strategies can be applied immediately, while others require you to plan ahead of time. Here are 7 year end business tax planning tips. 

TOSI was made effective to eliminate the tax benefits of income splitting where the recipient has not made sufficient contribution to the business.