You hire someone to help your growing business. Instead of putting them on payroll, you agree that they will invoice the company each month as an independent contractor. There is no vacation pay. No payroll deductions are taken. You do not remit CPP or EI. The worker sends an invoice, you pay it, and everyone...

Your corporation had another profitable year. The operating account now holds $800,000. You do not need all of that money to pay employees, suppliers or upcoming business expenses, so you start investing the surplus. Some goes into GICs. Some goes into stocks and ETFs. Maybe the corporation purchases an investment property. At first, this can...

Your business is growing. Sales have increased. More customers are paying invoices. Revenue finally moves past $30,000. That sounds like good news. But for many Canadian business owners, crossing $30,000 creates a tax obligation they do not notice until months later. The problem usually starts with a misunderstanding: “I only need to register for GST/HST...