One of the simplest methods to reduce your corporate taxes is to hire independent contractors. A business does not have to withhold any amounts from payments made to independent contractors...
A small business generally doesn’t have a stream of corporate tax lawyers and accountants to plow through the ever evolving tax regulations to find all the legal methods and...
Posted by ERNIE BUSTAMANTE on 11/18/2015
Receiving a 1099 is not a joyous occasion and if you were not expecting one, then you may not be tickled to see it in the mail. A 1099 means that you owe taxes on income you have received....
Posted by Asharp Bookkeeper on 10/30/2015
Are You Prepared for Your Small Business Taxes? Tips to Help You Save Many small business owners become frazzled around tax time and as the year comes to a close, they know it is...
Income of a Taxpayer Salary, wages, remunerations, for services and gratuities received by a taxpayer are all considered as income of a taxpayer. These types of incomes are taxable...
The following items are not included in income of taxpayer for a taxation year: Amounts declared to be exempt by legislation of the Parliament of Canada (s. 81(1)(a)) Amounts received...
The following items are included in income of taxpayer for a taxation year: Alimony or maintenance payments (s. 56(1)(b) and s. 56(1)(e)) Allowances for personal, living, or any...