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Small Business Tax Deductions

Information about small business tax deductions to help you track your business expenses and maximize your deductions.

The Most Overlooked Tax Deductions for Canadian Small Businesses
A lot of Canadian small business owners overlook these potential tax deductions. What about you?

Small Business Deduction
What is the Small Business Deduction? Does it apply to your Canadian small business? This Small Business Deduction definition explains.

The Rules for Meals and Entertainment Expenses on Canada Income Tax
All the ins and outs of claiming meals and entertainment expenses as deductions on your Canadian income tax.

Personal Services Corporation
You won't be allowed to deduct business expenses if The Canada Revenue Agency decides your incorporated company is one of these. Learn more here.

Being Declared a Personal Services Corporation Can Really Cost You
How to avoid being declared a personal services corporation by the Canada Revenue Agency and losing your small business tax deductions.

Business Limit
The Business Limit affects the amount of the Small Business Deduction your Canadian corporation can receive. Here are the details of this small business tax deduction.

Corporate Tax Canada Guide
This Corporate Tax Guide provides details on how to prepare and file corporate income tax, including information on income tax deductions available to some Canadian corporations.

Investment Tax Credits for Canadian Small Businesses
Investment Tax Credits cut down on the amount of tax that Canadian corporations or individual business owners have to pay and in some cases, also provide refunds for some expenditures. This article explains what federal Investment Tax Credits are available and outlines how to claim these tax credits.

Computer Tax Deduction
That new computer hardware and related systems software that you bought are a business tax deduction in Canada. But how much of one depends on when you bought it. Here are the Capital Cost Allowance rules for the computer tax deduction.

Apprenticeship Job Creation Tax Credit (AJCTC)
Canadian employers who hire apprentices are eligible for the Apprentice Tax Credit. Here are the details.

SR&ED
What is SR&ED? This SR&ED definition discusses SRED from a small business point of view, including an explanation of what kinds of projects qualify for the SR&ED tax incentive program.

Research and Development Tax Credits
Canadian businesses can earn Research and Development Tax Credits. This article explains what kinds of work qualify for R&D Tax Credits and outlines how to claim these tax credits.

How to File a SR&ED Claim
Canada's SR&ED incentive program is one of the most beneficial R&D incentive programs in the world, and you don't have to have a large business to participate. Gerry Fung explains the filing requirements for a SR&ED claim and how to file a SR&ED claim successfully.

How to Identify SR&ED-Eligible Projects
Although Canada's SR&ED incentive program is one of the most beneficial R&D incentive programs in the world, many businesses just aren't aware of its immense benefits. And companies who are aware of the program often dismiss it because they assume that they don't qualify. But qualifying for the SR&ED incentive program may be easier than you think. Gerry Fung explains how to identify SR&ED-eligible projects.

6 Home Based Business Tax Deductions You Don't Want to Miss
Additional income tax deductions are available for home based businesses. How many of these home based business deductions apply to your Canadian home based business?

Business Expenses Definition
A definition of business expenses according to the Canada Revenue Agency.

Business Expenses as Tax Deductions Index
Want to know what business expenses you can deduct on your Canadian income tax and the rules for claiming them? Consult this list.

Do I Include Taxes When Claiming Business Expenses?
The answer to the question: Do you include the tax you paid on business expenses when claiming business expenses on your Canadian income tax?

Do I Include GST/HST When Claiming Capital Cost Allowance?
The answer to the question: Do you include the GST/HST you paid when claiming Capital Cost Allowance on your Canadian income tax?

Calculating the Home Business Tax Deduction
There are tax deductions specific to home-based businesses. This outline of Canadian home-based business tax deductions includes how to calculate the business-use-of-home tax deduction.

Capital Cost Allowance
An explanation of this business tax deduction and how to apply Capital Cost Allowance, with related resources.

Child Care Tax Credits
Canadian businesses can earn Child Care Tax Credits for creating child care spaces. This article explains how to earn and claim these Investment Tax Credits.

Don't Miss out on the SR&ED Tax Credit Program
The SR&ED tax credit program is a great deal for Canadian businesses – and it’s not just for corporations or high-tech businesses. Find out how this Research and Development (R&D) tax incentive might apply to your business.

5 Common Business Tax Myths
When it comes to business taxes, ignorance is definitely not bliss; if you’re not aware of the ins and outs of business taxes, and don’t comply fully with the business tax rules, you can end up facing costly penalties. Here are five of the most common business tax myths – and the truth about business tax deductions.

Gifts to Employees Are Tax Deductions
Giving your employees gifts or awards instead of cash bonuses has tax benefits for both employers and employees. Here are the rules for this small business tax deduction.

Maximize Your Small Business Tax Deductions
Small business tax deductions related to the cost of doing business, and home-based business deductions that your Canadian business may be able to claim.

Investment Tax Credits
Investment Tax Credits reduce the amount of income tax that Canadian corporations and individual business owners have to pay. Here's an explanation of how the Investment Tax Credit works and potential tax credits in Canada a business might claim.

More Ways to Maximize Your Business Tax Deductions
Learn about potential income tax deductions related to vehicle expenses, travel-related expenses, employing a family member, advertising expenses, and the kind of business expenses that fall into the CRA's 'other' category.

The Business Promotion Tax Deduction
Is business promotion a legitimate business tax deduction? Yes. Here are the details about business promotion and advertising as tax deductions for Canadian small businesses.

One-Stop Tax Index
Use this handy guide to find the specific business income tax information you need on this site and links to the most useful business guides on the CRA (Canada Revenue Agency) site.

RRSPs - The Best Income Tax Deduction...
If your business is a sole proprietorship or partnership, the best income tax deduction for your small business is the RRSP. Here's why RRSPs are the best tax deductions and information about RRSP contribution limits.

Splitting Your Income
Splitting your income by hiring your spouse or children as employees can lower your tax bracket and give you significant tax savings - as long as you stick to the rules for this small business tax deduction.

8 Tax Strategies to Maximize Your Income Tax Deductions
Eight tax strategies that you may be able to use to reduce the amount of income tax you pay if you operate a small business in Canada.

Qualified Property Investment Tax Credit
Canadian businesses can earn Investment Tax Credits by doing designated activities on or with their qualified property. Here are the details.

What Motor Vehicle Expenses Can You Claim on Income Tax in Canada?
Learn what motor vehicle expenses you can claim on your income tax in Canada if you used a vehicle for business purposes and how to calculate your automobile expenses claim.

How to Keep a Logbook to Claim Motor Vehicle Expenses
Claiming motor vehicle expenses on your Canadian income tax because you used your vehicle to earn income? Here’s what you need to know about keeping a vehicle logbook.

Motor Vehicle Expenses Related to Buying a Motor Vehicle
You can’t claim the cost of a new vehicle that you’ve bought to use in your business outright on your Canadian income tax, but you can claim it through Capital Cost Allowance. Here’s what you need to know.

Motor Vehicle Expenses Claimed By Self-Employed Individuals
The Canada Revenue Agency's Bulletin IT-521R defines the classes of motor vehicles and provides detailed information on calculating automobile expenses.

Payroll Deductions - Gifts and Awards
Employers' gifts and awards to employees are now tax-deductible (as of the 2001 tax year). This Canada Revenue Agency page gives all the details.

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