Tax deductions or tax write-offs are the cash amounts that the Canada Revenue Agency (CRA) lets you take away from your total taxable income. If your business qualifies for sufficient tax deductions, this can bump you down into a lower tax bracket. That could then reduces your tax bill fo...
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For “regular” corporations (such as C corporations) that operate on a calendar year, their federal income tax return (Form 1120) for the 2024 tax year is due on April 15, 2025. (A calendar year business’s tax year runs from January 1 to December 31.) If your corporation operate...
Business taxes are one of the few common themes in a diverse economy—every company has to pay them. Here’s a quick guide to business taxes.
Learn about the tax write-offs and small business tax deductions you may be missing and get ideas for how to use them.
and Canada Per Steven Schroeder, Senior Director of Marketing at Perkins Coie LLP, the best takeaway from the Roundtable is knowing that others are dealing with similar issues you face and hearing from others how their organization deals with those challenges. It is also helpful to make real ...
President, National Client Solutions, Canada Arthur J. Gallagher Canada Limited tracey_medeiros@ajg.com Right of Set-off We may at any time, without notice to you, set off any liability of yours to us against any liability of us to you, whether either liability is present or future, liquid...
Submit VAT return electronically using software recognized by HMRC.Since 2021, the electronic statements must also include information that helps prevent fraud. For more information, see Send Fraud Prevention Data.Business Central supports Making Tax Digital and the GovTalk service.Mak...
Some tax returns or government filings are simple enough to do yourself.This is not one of them.While it looks simple (only five pages at first), you should absolutely, positively have a professional tax preparer or accountant involved in the preparation of any corporate tax return. It is re...
Some Canadian business owners are also opting to file via Net File or accounting software such as QuickBooks. You can contact the Canada Revenue Agency via a free support service or at the CRA phone number, 1-800-959-8281. Small business tax myths Q1: My business didn’t make any money ...