Tax Basics for Small Businesses and Self-Employeed Individuals

1️⃣ Deductible vs. Non-Deductible Expenses
Claim what you can, avoid what you can’t. Knowing the difference can save you $$ at tax time.

2️⃣ Home Office & Vehicle Expenses
Working from home or using your car for business? Keep clear records and allocate expenses correctly—it matters to the CRA.

3️⃣ Incorporation Benefits
Incorporating isn’t just about prestige—it can bring tax advantages and protect your personal assets.

4️⃣ HST/GST Responsibilities
Do you know when to register, collect, and remit? Missing deadlines can lead to surprises.

5️⃣ CRA Penalties & Interest
Late filings and unpaid taxes cost more than just money—they cost stress. Stay compliant to stay worry-free.

✅ Small steps now = fewer headaches later.

What’s your biggest tax challenge as a small business owner? Let’s discuss during Q&A

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Host or Publisher Beauregard Accounting