Category " Small Business"

It’s the letter or phone call every small business owner dreads — the Canada Revenue Agency (CRA) wants to conduct an audit. Now what? Here are some dos and don’ts from Chartered Accountant Andrew Flynn, a partner with Hutton Evans Flynn LLP in Lindsay. Do understand what you’re being asked for – “There are three main [...]

Every year, the federal government gives out about $4-billion to help businesses develop new products and processes. About 25,000 companies make claims, but there are many more that probably could – and would – if they knew where to start. That’s not all! Chartered Accountant Brian Cookson, a partner with RDP Associates Inc. in Toronto, [...]

A Canada Revenue Agency (CRA) audit of your small business costs money, takes up your time, and causes a whole lot of stress. Is it possible to avoid a CRA audit? There are no guarantees, but here are some tips that may help keep you off the CRA’s radar screen. Be aware that there are [...]

When it comes to income taxes, self-employment can be more attractive than working for someone else. That’s because a self-employed person can usually deduct any reasonable business expense necessary to earn business income. If you are self-employed, or thinking about going that route, keep these tax deductions and tax tips from the experts in mind.

Most people agree that regular, preventive visits with our doctors, dentists and optometrists help us stay fit and healthy. “The same is true when it comes to finances and taxes,” says Chartered Accountant Andrew J. Flynn, Partner with Hutton, Evans, Flynn LLP in Lindsay. “It makes perfect sense for people to schedule annual ‘check-ups’ with [...]