Blog Archives - Page 7 of 12 - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

Forecasting

Importance of financial forecasting

One of the main reasons for a small business failure is lack of planning of cash. A good forecasting mechanism increases business success chance and minimizes the failure risk. Small business owners must realize the importance of this tool to plan ahead in order to make their business […]

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What is benchmarking and why is it important for my business?

July 7, 2014
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In simple terms, benchmarking is a tool to compare business performance against the industry. It is one of the ways to judge what the best practices are and how you can improve your business process. For example, if the industry is earning 10% return on assets, while your […]

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Salary or Dividend – Which One Is Better?

When tax planning for your next tax return, you may want to keep in mind whether to earn income through salary or dividends.

The owner or manager must determine the remuneration they wish to receive, and must therefore determine the optimal salary and dividend combination to maximize their […]

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taxable benfit

Deduction and Tax credits available to private corporations (CCPC)

June 30, 2014
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Small Business Deduction

Owning a small business entitles you a Small Business Deduction on your active business income (ABI), reducing the amount of tax that your business might otherwise have to pay.

According to CRA, to qualify for the Small Business Deduction, a corporation has to […]

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