Small Business Tax Deductions
Information about small business tax deductions to help you track your business expenses and maximize your business tax deductions.
Small Business Deduction
What is the Small Business Deduction? Does it apply to your Canadian small business? This Small Business Deduction definition explains.
What is the Small Business Deduction? Does it apply to your Canadian small business? This Small Business Deduction definition explains.
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.
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.
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.
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.
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
One of the advantages of running a home based business is that there are additional income tax deductions that you can claim. How many of these home based business deductions apply to your Canadian home based business?
One of the advantages of running a home based business is that there are additional income tax deductions that you can claim. How many of these home based business deductions apply to your Canadian home based business?
Business Expenses
Here's the Canada Revenue Agency's definition of business expenses and some tips about keeping track of your business expense tax deductions.
Here's the Canada Revenue Agency's definition of business expenses and some tips about keeping track of your business expense tax deductions.
Business Expenses as Tax Deductions Index
A list of common business expenses for Canadian businesses with links to details about using particular business expenses as tax deductions.
A list of common business expenses for Canadian businesses with links to details about using particular business expenses as tax deductions.
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.
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.
An explanation of this business tax deduction and how to apply Capital Cost Allowance, with related resources.
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.
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.
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.
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
This first installment of getting ready for tax time covers keeping track of your receipts, small business tax deductions related to the cost of doing business, and deductions for home-based businesses.
This first installment of getting ready for tax time covers keeping track of your receipts, small business tax deductions related to the cost of doing business, and deductions for home-based businesses.
More Ways to Maximize Your Business Tax Deductions
The second installment of small business tax deductions covers vehicle business expenses, travel-related expenses, employing your child or spouse, advertising expenses, and the kind of business expenses that fall into the CRA's 'other' category.
The second installment of small business tax deductions covers vehicle business expenses, travel-related expenses, employing your child or spouse, 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.
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.
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.
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.
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.
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.
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.
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.
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.