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We are pleased to provide a variety of resources on accounting, taxation and other related subjects that we hope will be helpful to both individuals and businesses.

Tax Implications of Shareholder Loans

shloan

Shareholder loans refer to loans made by shareholders of a corporation to the corporation. The tax implications of such loans will vary depending on the jurisdiction, but usually, they are not considered taxable income to the shareholder.

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You Might be Self-Employed If...

self-employed Are you self-employed?

No doubt you have heard someone say, “I’m self-employed.” What do you think of when you do?

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How do you pay yourself? Dividends Or Salary?

dividend1

Paying yourself as a small business owner is an important decision. Determining how you do it will be very important concerning finances and taxes.

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Independent Contractor vs Employee – Which is Which?

employee Contractor vs Employee

The Canada Revenue Agency (CRA) will use detailed guidelines to determine whether someone working for you is an independent contractor or an employee. It is important that you understand the difference and classify that person correctly, otherwise the difference could have a hugely negative impact on your taxes.

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