In Canada, the average small business owner pays more than 42% of their income taxes. First of all, that is a lot of money. Secondly, nobody ever wants to give more of their income to the Canada Revenue Agency (CRA) than they legally have to.
Surprisingly, small business owners, those who are entrepreneurs, self-employed, and independent contractors are failing to …Read Full Article
It is important to keep business records such as pay stubs, tax records, and other supporting documents. The Canada Revenue Agency (CRA) standards state that business owners should keep most documents for a six to seven-year period. Complying with these standards can seem a little daunting, especially with rising document storage costs. In Canada, the amount of time to keep …Read Full Article