Small Business Tax Facts

Updated for 2024Navigating Canadian taxes as a small business or self employed owner can be challenging and stressful.Small Business Tax Facts: An Easy-to-Understand Guide for Canadian Small Business Owners teaches you the fundamentals and the facts about income and tax.Keeping your business on the right side of tax collectors is easier than you think. Simple errors, oversights, and miscalculations can result in costly audits and/or fines. Don’t let that happen to you! Learn how to navigate taxes, pay only what you owe and on time and save your hard earned money by claiming the deductions that you are entitled to.Inside this comprehensive and helpful guide for unincorporated small business and self employed owners, you’ll discover:(Includes complimentary PDF version by sending an email with proof of purchase - see book for details)a comprehensive breakdown of business expenses and deductions with exampleshow income tax works when you are a small business or self employed ownerguidance on how tax brackets and rates works to give you a better understanding of how you are taxedthe differences between being an employee and a small business/self employed owner so that you can assess the tax impacthow to register for an online CRA Account to simplify your tax obligations and reportingthe difference between tax deductions and tax credits and a list of the most common ones to help you reduce your tax billthe essentials of small business/self employed accounting to make your life easier at year endhow to prepare and file your own business income tax return allowing you to save on hiring an accountanthow to prepare your sales tax (GST/HST) returnsinsights into CPP contributions ,how to calculate them and how they affect your taxes payableand so much more!Discover insider secrets, tools, techniques, and must-know information from author Ronika Khanna CPA, CA, & CFA, and learn to navigate Canadian small business taxes with ease