Articles in "Business Taxes"
Canadian Corporate Owners Compensation – Options
One of the many complex aspects of owning a corporation is how you, as the owner, decide to compensate yourself. A business owner of a corporation can get very confused with the various options open to him or her. This article will shed a little light on a complex area. When companies usually start, the owners invest their own money. Typically, this is classified as a shareholder loan. In other words, the money is lent to the corporation by the owners to purchase supplies, equipment, [...]
Taxes for Canadian Small Businesses
Small business owners are a courageous breed. Their adventure in business is filled with many different challenges and surprises. One surprise for most of those just starting out as entrepreneurs is the mountain of taxes that they will have to deal with in their new positions. The different taxes that the business owners have to manage are: Source Deductions – when you begin paying employees, this money is withheld by the business owners from their employee’s wages for submission to the Government of Canada. GST [...]