The Canadian tax system offers plenty of opportunities for startups to save money. Unfortunately, it’s also very complex, and many startup founders make costly mistakes during tax season as a result. Navigating the tax process effectively is key for small businesses to ensure they maximize their tax refunds.
Read more for an overview of the mistakes startup founders.
If you have a small business, you may have considered hiring accounting and bookkeeping services. You may use the two terms interchangeably. Maybe you even wonder half-seriously if an accountant is just an expensive bookkeeper. So, what exactly is the difference between bookkeeping and accounting? Read the article to learn more.
The taxation system of Canada has evolved over the years alongside the country. This article will discuss these tax types: GST, HST, PST, and QST, in detail – everything you need to know.
In Canada, it is best to file your tax as and when due, as failure to comply usually attracts some consequences. You can leverage certain tax benefits and claims to save some money when filing in the 2022 tax season in Canada.
Canada operates a unique tax system. The entire system may be confusing for new business owners. We’ve distinguished between federal and provincial taxes to aid easy understanding and tax-compliant operations.
Doing your tax planning now will reduce tax problems later – Check out the 8 tax pitfalls you need to be aware of when starting a business.
