Tax

Reducing Taxes Through Dividend-Salary Mix Calculations

by J. Stephen Pope Should I take wages or dividends from my privately owned corporation? What is the best way of taking money out of my company? In other words, what will result in the least amount of income taxes? A Canadian accountant will perform a dividend-salary mix calculation to determine the best way of [...]

Filed Under: Articles by J. Stephen Pope, Tax Tagged With: Canada Pension Plan, Canadian accountant, CPP, Dividend Tax Credit, dividend-salary mix, dividends, J. Stephen Pope, reducing taxes, Registered Retirement Savings Plan, RRSP, salary, Small Business Deduction, wages

Top 7 Small Business Tax Tips

by J. Stephen Pope Here are seven ways for owners of small businesses to save money on their taxes.

Filed Under: Articles by J. Stephen Pope, Tax Tagged With: car expenses, documentation, entertainment expenses, home office, home-based business, income splitting, incorporation, interest, late filing, limited liability, lower tax rates, penalties, punctuality, rearrange your affairs, record keeping, small business, small businss income, tax advantages, tax savings, tax tips, top 7

Top 7 Reasons to File Your Income Tax Returns on Time

by J. Stephen Pope Here are seven reasons for not being late filing your income tax returns.

Filed Under: Articles by J. Stephen Pope, Tax Tagged With: accountant, bankruptcy, criminal charges, delinquent returns, financing, income tax returns, J. Stephen Pope, late filing, late filing penalties, stress, tax authorities, tax department, tax evasion, top 7, worry

Income Tax Returns Your Accountant Should Not File

by J. Stephen Pope You’ve been feeling uneasy (perhaps even guilty) because you’ve failed to report your under the table business income. Perhaps you’ve never filed a tax return, even though you know you owe money. Finally, you contact an accountant to resolve the situation. Although it is commendable that you are trying to correct [...]