Small Business Tax Facts

Updated for 2024
Navigating Canadian taxes as a small business or self employed owner can be challenging and stressful.
Small Business Tax Facts: An Easy-to-Understand Guide for Canadian Small Business Owners teaches you the fundamentals and the facts about income and tax.
Keeping your business on the right side of tax collectors is easier than you think. Simple errors, oversights, and miscalculations can result in costly audits and/or fines. Don't let that happen to you! Learn how to navigate taxes, pay only what you owe and on time and save your hard earned money by claiming the deductions that you are entitled to.
Inside this comprehensive and helpful guide for unincorporated small business and self employed owners, you'll discover:
(Includes complimentary PDF version by sending an email with proof of purchase - see book for details)a comprehensive breakdown of business expenses and deductions with examples
how income tax works when you are a small business or self employed owner
guidance on how tax brackets and rates works to give you a better understanding of how you are taxed
the differences between being an employee and a small business/self employed owner so that you can assess the tax impact
how to register for an online CRA Account to simplify your tax obligations and reporting
the difference between tax deductions and tax credits and a list of the most common ones to help you reduce your tax bill
the essentials of small business/self employed accounting to make your life easier at year end
how to prepare and file your own business income tax return allowing you to save on hiring an accountant
how to prepare your sales tax (GST/HST) returns
insights into CPP contributions ,how to calculate them and how they affect your taxes payable
and so much more!
Discover insider secrets, tools, techniques, and must-know information from author Ronika Khanna CPA, CA, & CFA, and learn to navigate Canadian small business taxes with ease