What small business owners need to know about income tax Toronto ON

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 ...

Community Education Group
(905) 354-4866
5017 Victoria Ave
Niagara Falls, ON
 
Sarnia-Lambton Business Self
(519) 332-2504
265 Front St N
Sarnia, ON
 
Trg Business Svc
(905) 371-3000
6153 William St
Niagara Falls, ON
 
S Funtig & Assoc Inc
(519) 332-3966
316 Christina St N
Sarnia, ON
 
Business Advisory Centre Durham Inc
(905) 438-4008
50 Richmond E
Oshawa, ON
 
Complete Business Svc
(613) 936-6960
111 Lawrence Ave
Cornwall, ON
 
Hobb Bakker Bergin Hill
(905) 579-5659
200 Bond W
Oshawa, ON
 
Christopher Gordon Associates Ltd
(705) 495-1760
160 Pinewood Park Drive
North Bay, ON
 
Right Management Consultants
(519) 337-4200
265 Front St N #411
Sarnia, ON
 
Live To Learn
(905) 951-9626
166 Allan Dr
Bolton, ON
 

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

Related Local Events

Networking with a Twist
Dates: 2009-04-23 – 3009-04-23
Location:
LaserTron Amherst
View Details