Tax Planning for Canadian Self-Employed Businesses A tax organizer is there to assist Canadian self-employed taxpayers organize their financial information at tax time. Reading and following CRA guidelines can be a daunting task when you are already overwhelmed with the amount of receipts in your hand. The organizer also helps remind the tax filer of the most common tax receipts
Canadian-owned corporations are common business structures in British Columbia and Canada as a whole. They come with a host of different structuring options and different methods of compensation (i.e. dividends vs. salaries). The following are a few simple business and tax tips for Canadian-owned corporations: Make your spouse a shareholder of the company as well. This will allow income splitting,
Running your own canadian company has many tax perks. This includes many write-offs, low corporate tax rates for the Canadian controlled private corporations (“CCPC”), and the income splitting opportunities. One of the biggest and least discussed tax breaks is the lifetime capital gains deduction that is available when a shareholder of a CCPC is ready to sell his shares of
MEW and COMPANY
Chartered Professional Accountants
Suite 418–788 Beatty St. Vancouver, BC V6B 2M1
Tel: 604 688 9198 | Fax: 604 688 9192
Suite 418–788 Beatty St.
Vancouver, BC V6B 2M1
Tel:604 688 9198
Fax: 604 688 9192
Lilly Woo, CPA, CA, CFE, CFP (ext. 1)
Richard Mew, CPA, CA, CFP (ext. 2)
For everything from consultation to a comprehensive corporate tax plan, call us, we’re here to help. Whether you’re an incorporated Canadian business or a Canadian individual, whether you need financial statements or a comprehensive tax and estate plan, we know how to work within the current Canadian tax laws to minimize your tax burden and maximize your net worth
© 2020 Mew & Company
