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Starting a business or becoming self employed opens up a whole new world of tax considerations. This book will guide you through the fundamentals to ensure that you pay the taxes you need to but no more than that. In learning about the different types of tax and the sorts of deductions that businesses are entitled to you can have a better understanding of your small business tax and save time and money. Our tax companion:
Makes sure you don’t miss any deductions by providing a comprehensive list of expenses that you as a small business or self employed owner claim, and explains them in detail with easy to follow examples
Explains simply the key basic tax concepts that every taxpayer should know
Provides details on how to do your accounting and what you need before preparing your tax return
Takes you step by step through the process of completing the T2125 business tax return schedule along with examples
Explores the more complex sections such as capital cost allowance, motor vehicle/car and home office expenses
Takes you through the process of understanding and completing your GST/HST returns plus a special appendix on provincial sales taxes
Discusses eligibility of common expenses that are less straightforward
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