Small Business Tax Facts

Navigating Canadian taxes as a small business owner is difficult.

Its normal to be nervous, but with a little help, taxes don't have to be so daunting.

Small Business Tax Facts: An Easy-to-Understand Guide for Canadian Small Business Owners teaches you the fundamentals and the facts about income and tax.

Keeping your business on the right side of tax collectors is easier than you think. Simple errors, oversights, and miscalculations can result in costly audits and/or fines. Don't let that happen to you! Learn how to navigate taxes, pay only what you owe and on time and save your hard earned money by claiming the deductions that you are entitled to.

Inside this comprehensive and helpful guide for unincorporated business owners, you'll learn about:
A comprehensive list of business expenses and deductions with examplesincome taxtax brackets and ratesthe differences between employment tax and self-employment/small business taxhow to register for an online CRA Accountthe difference between tax deductions and tax credits and how to maximize themthe essentials of small business accountinghow to prepare and file your business income tax returnhow to prepare your sales tax (GST/HST) returnsand so much more!
Discover insider secrets, tools, techniques, and must-know information from author Ronika Khanna CPA, CA, & CFA, and learn to navigate Canadian small business taxes with ease with Small Business Tax Facts: An Easy-to-Understand Guide for Canadian Small Business Owners.

When I was starting my business, I only knew about the taxes I had paid as an individual consumer.  Setting up tax accounts with the government was something I didn't really understand, and I ended up paying a bunch of penalties and interest.  

Review:

This book really lays things out clearly.  I wish I'd had it when I started!  I also found that there were deductions that I wasn't taking, and so this year I paid less tax than last year, even though my business was more profitable. 

I strongly recommend buying this book if you operate your own business.  The explanations are clear and complete, the step-by-step guides to government forms easy to follow, and the language is aimed at regular people--you don't have to be a lawyer or accountant to get it!