There are many Tax effective ways to Take Money Out of Your Business. When planning for a family small or medium sized business group, the main consideration is how much ends up in the family unit’s pocket. Here are three strategies to consider. 1. Declare a Dividend to a Lower Income Shareholder (includes kids over […]
Thank you for visiting our web page. We are very proud of the quality of services that we provide and hope that by reviewing our website, that you acquire an understanding of who and what we represent. Accountable Business Services (ABS) ABSPROF is an Accounting and Tax Firm located in Alberta offers Accounting and Tax […]
The Small Business Deduction is a Canadian Income Tax (T2) Deduction available to Businesses that were Canadian-Controlled Private Corporations (CCPCs) throughout a particular Tax (T2) year. It cuts back the Part I Tax (T2) that a corporation would have to pay otherwise. CCPC is a private corporation that is incorporated in Canada (Canadian resident) with […]
If you offer your employee with a Cellular Phone or Internet Service at home in order for them to carry out their employment duties, the business use is not a Taxable Benefit. However, you must included the value of the personal use in your employee’s income as a Taxable Benefit. Calculating the Taxable Benefit As […]
On October 1, 2015, the Alberta government Released new Tax Rates to be brought in. In 2015, the change results in a pro-rated Tax Rate applied to all Income for the Tax year and in 2016 will be the full Tax Rates. We have prepared a table to illustrate the changes. To see where you’d […]
Small businesses are frequently in the right industry and have the potential to develop but are often bounded and suppressed by not looking of the financial management of the business. They have the misapprehended belief that only corporations and big businesses should take care for financial details, as Small Businesses should not emphasize over small […]
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