Tax Suggestions for Sole Proprietors
Sole proprietors can make the most of a variety of tax financial savings methods. You’ll be able to declare most of the identical bills and deductions as firms. Watch this video to search out out extra.
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(Together with Tax Suggestions for Canadians, Private Tax Planning Information for Canadians: 2014 Version and 20 Tax Secrets and techniques for Canadians)
Timeline:
00:45 — Benefit from non-capital losses
01:06 — Pay wages to relations for earnings splitting
01:32 — Declare related bills to what you are promoting
02:02 — Contemplate incorporating what you are promoting
Disclaimer:
The knowledge offered on this video is meant to offer common data. The knowledge doesn’t have in mind your private scenario and isn’t supposed for use with out session from accounting and monetary professionals. Allan Madan and Madan Chartered Accountant won’t be held answerable for any issues that come up from the utilization of the knowledge offered on this video.
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