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The Costly Consequences of Pretending To Be An Incorporated Consultant

BC corporations enjoy a 11% corporate tax rate on the first $500,000 of taxable income from active business due to the small business deduction (“SBD”). Most BC incorporated businesses qualify for this tax break. In fact, many businesses structure its business affairs in ways that can take full advantage of this favourable tax treatment. Consultants Who May Not Be CRA

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Taking More Remuneration from Your Corporation Can Be Good Tax Planning

In a prior post, I discussed why using up the lower personal tax brackets every year is good tax planning. In this post, I plan to further discuss the tax benefits of increasing shareholders remuneration from the CCPC. Tax Benefits of Increasing Shareholders Remuneration From The CCPC Since the current Liberal Government has come into power back in 2015, there

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Tax Planning is More Than Minimizing Taxes for the Current Year

As the tax advisor for successful businesses in Vancouver, I have my share of owners who spend money as fast as they make it. For these spendthrifts, tax planning essentially boils down to cash management. And I have another group of successful business owners who are obsessed with paying little tax as possible come April 30. As I explain to the

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