Raising Funds? Why your business plan did not work out?
Lenders and investors need to see the potential in a business and the credibility of those presenting before they invest in an idea, just like you would do thorough research...
Income Tax Returns for Actors in Canada
How can I lower my taxes if I am an actor or a person employed in the entertainment industry?
This post outlines income tax returns for actors in Canada who are also residents...
Infographic – Income taxes for US Amazon Store
During recent times there is an uptick in E-commerce sales, especially due to COVID-19 Pandemic. With closures of more and more retail stores, customers are ordering online....
Canada Emergency Wage Subsidy and Shareholder Employees?
Effective July 05, 2020, there are new rules applicable to non-arm’s length employees and Canada Emergency Wage Subsidy, please read here.
In response to COVID-19, the...
Canada Emergency Business Account and Other Loan Programs in COVID-19 Crisis
COVID-19 Crisis has posed an existential threat to small and medium-sized businesses in particular. Small businesses are seeing significantly lower revenues if not...
What Entrepreneurs and Small Businesses can learn from COVID-19 Economic Crisis
COVID-19 Economic Crisis is a historical event in making!
In the future, this economic event of 2020 is going to be referred to alongside the great recession of 1932 and 2008....
How to take advantage of COVID-19 situation – a Positive Perspective
How Small Businesses and Entrepreneurs can take advantage of COVID-19 situation – a Positive Perspective
There is no doubt about the economic damage inflicted by...
Canada Emergency Wage Subsidy for Covid-19 Common Questions
The federal government of Canada has announced a 75% wage subsidy for employers. The purpose of this is to support businesses of all sizes to either re-hire laid-off workers...
Voluntary Disclosure Program (VDP) in Canada – Come Clean with Taxman
Did you forget to include income in your tax return or did not report it at all?
You may have underreported your income or missed to report foreign assets, you are liable for...
Canada Emergency Response Benefit CERB – Common Questions
COVID-19 is spreading its grasp all over the world. Like other governments, the Canadian government has also stepped in to check the adverse impact of the disease. The...
Rental Income from Associated Corporations as Active Business Income
Rental income earned by a corporation is considered as property income – investment income.
Active business income of Canadian controlled private corporations (CCPC) is...
Earning Investment income in a CCPC and Refundable tax
What is the investment income of CCPC?
Investment income includes income from property such as rental income, interest income, dividends, and royalties. Rental income can be...