As is the case with many small businesses, owners often don’t take a salary but do incur expenses. I attend many meeting and events to do with my business and am able to charge for my mileage. My accountant takes the total mileage into account at year end and any GST/HST owing is added to [...]
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Starting a business in another state is a solution that has taken an almost mythic-like status in online advice pieces – a lot of business analysts sell this solution as some sort of company cure-all, a way to avoid having to sink a business’s hard earned cash into the state treasury. The reality of the [...]
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If you’re a U.S. resident and you haven’t done your taxes yet, what are you waiting for? Why are you reading a blog about taxes when you should be compiling receipts, filling out forms, and scrambling to get it all done??? Taxes are due on April 17th this year, which means you’ve got just over [...]
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Well, Tax Day is upon us, and hopefully you’ve gotten your forms filled, your returns filed, and you’ve got a nice refund on the way. With all things fiscal in the air, it’s a good time to think about your company’s legal structure, and how that’s affecting your business tax status. There are both legal [...]
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Looking at your tax forms for the year gives you a detailed history of your individual income. If you’re a business owner, your corporate tax return should give you the same kind of assessment of your business revenue stream, deductions or exemptions, and costs. While it’s a favorite adage of ours here at Bplans that [...]
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Ah, spring, when a young company’s fancy turns to taxes… Here in the U.S., we are only 2 weeks away from Income Tax Day (April 15th). Whether you’re an early bird who already filed, or a late bloomer still assembling receipts in shoe boxes, taxes play an important role in how you structure your business, [...]
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