1 Subcontractor Payments Canadian Small Business Tax Strategy · 3:34 Discover how to properly handle subcontractor payments in your small business, including when they become tax-deductible expenses and the crucial T4A reporting requirement that kicks in at the $500 threshold.
2 Employee Costs (If Applicable) Canadian Small Business Tax Strategy · 3:49 Hiring employees comes with more costs than just their wages, and this chapter breaks down the full picture of payroll expenses Canadian small business owners must account for, including employer contributions to CPP and EI.
1 The Framework Canadian Small Business Tax Strategy · 3:34 A foundational overview of the tax framework available to Canadian incorporated consultants, covering how to strategically layer legitimate deductions — from home office and vehicle expenses to health plans and professional development — to maximize every dollar kept.
2 Personal Tax Efficiency Canadian Small Business Tax Strategy · 3:21 Discover how Canadian small business owners can minimize their personal tax burden by strategically structuring income across salary, dividends, and rental sources while leveraging key federal and provincial exemptions like the Basic Personal Amount.
3 Dividend vs. Salary Considerations Canadian Small Business Tax Strategy · 3:08 Explore the key differences between paying yourself a salary versus dividends as a Canadian small business owner, and discover how each method impacts your RRSP contribution room, CPP benefits, and long-term financial strategy.
1 What Draws CRA Attention Canadian Small Business Tax Strategy · 3:16 Discover the common mistakes and red flags that trigger CRA audits, from suspiciously round numbers to implausible expense claims, so you can keep your small business finances above scrutiny.
2 What Protects You Canadian Small Business Tax Strategy · 3:39 A deep dive into the documentation habits that shield Canadian small business owners from tax audits, teaching you exactly what records to keep and why real-time tracking is your best defense.
3 If You're Audited Canadian Small Business Tax Strategy · 2:49 Demystifying the audit process, this chapter walks you through what to expect when the CRA comes knocking, from common desk audits handled by mail to the rare home inspection that requires your consent.
Beginning of Year Canadian Small Business Tax Strategy · 3:20 A practical guide to starting your fiscal year on the right foot, this song walks you through the essential first steps of tracking your home office space and calculating the business-use percentage that will form the foundation of your tax deductions.
Throughout the Year Canadian Small Business Tax Strategy · 3:15 A practical guide to maintaining organized business records year-round, covering daily habits like tracking mileage, saving receipts, and using digital tools to keep your documentation audit-ready.
Year-End Canadian Small Business Tax Strategy · 3:08 As the calendar year winds down, Year-End walks small business owners through the essential tasks needed to close out their books properly, from logging final odometer readings to organizing home office receipts and ensuring every expense is accounted for before the deadline hits.