Small Business in a Recession: Preparation for the Worst
Recessions can be daunting for small businesses with reduced sales, disappearing customers, and increased nervousness. However, proper preparation can help you endure and emerge stronger. What is a Recession? Recession is defined as two consecutive quarters of...
Top Tax Deductions and Credits in Canada: Key Takeaways and Explanations
When it comes to taxes, there’s no one-size-fits-all solution. The Canadian Revenue Agency (CRA) outlines over 400 deductions and credits to help you get the most out of your taxes and maximize your refund. Here are the top 18 most popular items: Tax Deductions...
Sole proprietor vs. incorporate
Should a sole proprietor incorporate? As a sole proprietor, there is no separation between you and your business. You are your business, and you report your business income on your personal tax return. As a corporation, you create a legal entity separate from you. A...