If you own a small business, or if you are self-employed, it is likely that the topic of whether or not to incorporate has come to your attention.
Incorporation can be completed at either the provincial level or at the federal level. By deciding to incorporate, your business will become a separate legal entity and the liabilities of the company will become limited. Seeking legal advice before deciding to incorporate is also advisable, as each individual’s situation is unique. There are both advantages and disadvantages that should be considered in the decision of whether or not to incorporate.
Want to keep reading? Click the link below for more information on whether the decision to incorporate is right for you!
Today is the tax filing and payment deadline! However, if you have self-employment income your filing deadline is June 15th, see the following link for more information:
Are you self-employed? Do you have a home-based business and are you currently surrounded by mountains of paper?
Do you have the daunting task of trying to determine what information you need to file your taxes? Are you looking for a bit of free advice?
Click on this link https://www.thecoastgroup.ca/documents/GettingOrganized-TheBasics.pdf if you want some simple steps to follow to get your papers organized. You will find some tips on how to get started, what your accountant would like to see, and more importantly, what CRA wants to see.
Click on this link https://www.thecoastgroup.ca/documents/GettingOrganized-ComputerizedInfo.pdf if you are looking to organize your business information on a computerized system.
Are you self-employed? Do you know someone who is? Chances are, the answer to one of these questions is yes, as the Sunshine Coast is home to a high percentage of self-employed individuals.
There are many positive aspects of being self-employed, but there may be some tax-related tips that you or someone you know are not taking advantage of. Here’s a helpful link with five tax breaks for the self-employed. If you aren’t using these tips already, make sure to include them this tax season! Be sure to pass this link along to others who may also benefit from this information.