What small business owners need to know about income tax Saint-Jérôme QC

A strong small business sector is key to a healthy Canadian economy. Running a business is hard work, especially keeping your paperwork and tax oblig ...

Pointe Aux Jeunes
(819) 243-2537
50 Boul Du Progres E
Gatineau, QC
 
Amalgama Acquisitions Partenariats
(514) 525-7676
276 rue Saint-Jacques, Montréal
Quebec, QC
 
Comptoir Familial
(819) 561-1553
55 Boul Archambault
Gatineau, QC
 
Cld D'Arthabaska
(819) 758-5908
747 Boul Industriel E
Victoriaville, QC
 
Global Management Technologies
(514) 620-2057
41 Rue Rosedale
Dollard-Des-Ormeaux, QC
 
Chevaliers De Colomb
(819) 568-4401
635 Boul DE LA Gappe
Gatineau, QC
 
Placement Lambert Inc
(819) 751-3041
1171 Rue Notre-Dame O
Victoriaville, QC
 
Credit Bail Cie
(819) 643-0550
167 DE Candiac
Gatineau, QC
 
Association Recreatif-Gatineau
(819) 663-0551
195 Boul Maloney O
Gatineau, QC
 
Gestion Conseil P Mallette Inc
(450) 699-9840
328 Rue Concordia
Chateauguay, QC
 

What small business owners need to know about income tax

Provided By:

(NC)-A strong small business sector is key to a healthy Canadian economy. Running a business is hard work, especially keeping your paperwork and tax obligations up to date.

This spring, the Canada Revenue Agency (CRA) is providing the following tips to help small businesses.

• Small business owners should explore the necessary requirements for business registration. Registration is different from incorporation and has different implications for taxes. The CRA's Web site has everything you need to know at www.cra.gc.ca. Under "Business," select "Business registration."

• Some businesses need to charge taxes on the goods and services they supply. Others do not. To find out what the rules are for your business, visit www.cra.gc.ca. Under "Business," select "GST/HST."

• Completing all necessary tax returns correctly is important. The CRA's Web site has a lot of helpful tips and information on how to do that. Be aware that small business owners can file returns as sole proprietors, partnerships, or corporations, depending on how the business has been set up. The CRA's Web site has a breakdown of all three.

• Be prepared to back up every claim you make with proper receipts and paperwork. If you can't prove it, don't claim it. Visit www.cra.gc.ca. Under the A to Z index, select "Topics for business," and "K" for "Keeping records."

Credit: www.newscanada.com