Tax season can be a challenging time for many small business owners in Canada, with tax regulations and deductions often seeming overwhelming. At Taxvisors, our goal is to simplify this process for you and help maximize the benefits that Canadian small businesses can receive. In this blog post, we will discuss the benefits of small...
What Expenses Can I Write Off Against My Business Income? Tax season here, and we at Taxvisors would like to remind everyone that it is our duty (as salaried individuals, self-employed professionals, small businesses or corporations) to properly report and file our income taxes. As we approach the April 30th deadline, we will be covering...
What is Investment Income? Duly described as ‘Passive Income’, this is the number of gains that a company makes apart from its full-time scope of business. The Canadian Revenue Agency (CRA) defines Passive Investment Income as: Interest Rent (not including rent from associated corporations actively carrying on business) Royalties Dividends from portfolio investments and non-associated...
What is Capital Gain? Any increase in the value of a capital asset is a capital gain (when comparing the current value to its original purchase price). However, it is only considered to have occurred or ‘realized’ when the asset is sold – an important distinction when compared to an increase in an asset’s value...
Copyright by The Beespoke. All rights reserved.
Copyright by The Beespoke. All rights reserved.
