Small Business Taxes

Kris Sparrow, an Origami co-founder and CPA, explains what small business owners need to know about compensating themselves at different stages of their business.

This post helps to demystify the small business tax landscape. It gives you the information you need to stay compliant in terms of your business tax filings and payments.

At the end of the day, you have to ask yourself a simple question: was this expense paid primarily in an effort to earn business income? If the answer is yes, it is deductible, if the answer is no, it is not.

As the owner-manager of a Canadian small business corporation, you have two options when it comes to paying yourself: a dividend or a salary. We discuss the pros and cons of each option in this post.