Tax Deductions for Small Business Owners!

January 23, 2019

Tax Deductions for Small Business Owners!

 

Tax planning can be strenuous and time consuming for businesses in Canada. If you are small businesses that is structured as a corporation, Accountatax can help!

 

Did you know that RRSP contribution levels are based on earned income from salary and if you choose to receive any income in the form of dividends it will ultimately reduce or even ELIMINATE your RRSP contributions? Do you take a business salary or dividends?

 

As the name implies, TSFA help you to shelter your savings and investment income from taxes.

Income and capital appreciation from stocks, bonds, or other interest bearing instruments are tax-free inside a TFSA. If you’ve maxed out your RRSP contributions and need a tax-free place to put cash or investments the TFSA is a good choice!

 

Accountatax can help you structure your income taxes and make sure you benefit from your business!