The Competitive Edge for Small Business Owners Tax plan calendar for small business owners The most effective tax plan starts with knowing the updated rules and doing a lot of small things correctly throughout year. Tax plan does not happen on yearend time and see your accountant, it is a daily fight through a whole… [Continue Reading]
The Competitive Edge – Issue No. 6
The Competitive Edge for Small Business Owners Year-End Tax Plan Tips for Small Business Owners Before you file your 2016 tax, make sure you have done all the tax planning you can. Estimate your tax payable and plan deduction. A little tax planning can lead to a lot of tax savings! As a small business… [Continue Reading]
The Competitive Edge – Issue No. 5
The Competitive Edge for Small Business Owners The Impacts of Budget 2016 on Small Business Deduction The active business income for Canadian small business is taxed at 13.5% in Alberta. However, there are 2 limits for enjoying this low tax rate. Active business income limit – The maximum eligible amount for this low rate is… [Continue Reading]
The Competitive Edge – Issue No. 4
The Competitive Edge for Small Business Owners The Skinny on Available Business Investment Loss – Minimizing your Tax Liability Normally, loss incurred on disposing debt or shares will be treated as capital loss. As long as you have capital gains available, you will save your taxable income up to capital gains shelter. The problem comes out, if… [Continue Reading]
The Competitive Edge – Issue No. 3
The Competitive Edge for Small Business Owners Salary, dividends or salary & dividends mix: where’s the tax advantage? As the owner-manager of an incorporated business, you can choose how you wish to be compensated: a salary, dividends or appropriate salary/dividends mix? Dividends are distribution of a company’s profits, which is not deductible at corporate’s level…. [Continue Reading]