Make Sure It's Deductible: Little-Known Tax Tips for Your Canadian Small Business, Fifth Edition
Autor Evelyn Jacksen Limba Engleză Paperback – 5 mai 2020
Rather than wondering “Is it deductible?” –Make Sure It’s Deductible! You owe it to yourself, and your small business, to take advantage of every legitimate business deduction and personal tax planning benefit at tax time, and all year long, so you can increase your cash flow, and build wealth, too.
Evelyn Jacks, Canada’s bestselling and most trusted tax author and educator, delivers vital tax facts and tips to save you money. Presented in a clear, friendly style that’s easy to read, understand and apply to your own business, you'll join the more than 40,000 entrepreneurs who’ve turned to this tax-saving classic to learn how to:
- Determine which expenditures are fully deductible and which are restricted.
- Acquire new assets for your business while benefiting from generous new tax write-offs.
- Write off auto and home office expenses that pass the scrutiny of a tax auditor.
- Hire family members to work in your business, all onside with stringent income splitting rules.
- Decide whether to incorporate, now that new rules make family income splitting more difficult.
- Understand the latest tax brackets and rates and how to plan income courses to minimize them.
- Manage your tax remittances, including tax installments and payroll taxes, as well as the collection and remittance of sales tax
- Avoid falling foul of the “Tax Gap” by timely compliance with CRA tax filing, including the collection and remission of sales tax from your customers.
- Enjoy generous capital gains deductions if you decide to sell your enterprise
- Plan for a secure lifestyle now and in retirement, and more.
“Evelyn Jacks is well-deserving of her reputation as Canada’s most trusted tax advisor. This book could save thousands of tax dollars for anyone who is self-employed, runs a small business, or is thinking of starting one.”--Gordon Pape, bestselling author and editor and publisher of The Internet Wealth Builder.
Evelyn Jacks, is the president of the Knowledge Bureau and one of Canada’s most prolific business authors. She is an award-winning entrepreneur, having written over 50 books on the subjects of personal taxation and wealth management. Evelyn was appointed to the Federal Task Force on Financial Literacy, which will set a national strategy for financial literacy for Canada, and is one of Canada's Top 25 Women of influence. She lives in Winnipeg,Manitoba.
Preț: 125.59 lei
Nou
Puncte Express: 188
Preț estimativ în valută:
24.03€ • 25.20$ • 20.04£
24.03€ • 25.20$ • 20.04£
Carte disponibilă
Livrare economică 17-31 decembrie
Preluare comenzi: 021 569.72.76
Specificații
ISBN-13: 9781260458510
ISBN-10: 1260458512
Pagini: 288
Dimensiuni: 185 x 234 x 20 mm
Greutate: 0.45 kg
Ediția:5
Editura: McGraw Hill Education
Colecția McGraw-Hill
Locul publicării:United States
ISBN-10: 1260458512
Pagini: 288
Dimensiuni: 185 x 234 x 20 mm
Greutate: 0.45 kg
Ediția:5
Editura: McGraw Hill Education
Colecția McGraw-Hill
Locul publicării:United States
Cuprins
Introduction
Chapter 1 Key Reasons Why Canadians Pay Too Much Tax
David, the typical one-source income earner. Taking a strategic
view to saving taxes. Multiplying income sources. Using
legitimate tax-savers. Understanding tax audit risk.
Chapter 2 How to Tax Cost Average
Mary, the sales agent. Timing income. Deferring income.
Making retroactive tax adjustments. Using carry-over provisions.
Beware the CPP. Proprietorships vs. incorporation.
Chapter 3 How to Start a Tax-Efficient Small Business
Marlen, the gourmet cook. When does a hobby become a
business? Is there potential for profit? Meeting the onus
of proof. Your Business Start Plan and Daily Business Journal.
Classifying expenses. Claiming losses.
Chapter 4 Write Off More Deductions Without Changing Your Life
Julie and Janet, artist and writer. What is a genuine tax-deductible
expense? Statement of Business Activities. Current vs. capital
expenses. Restricted and mixed-use expenses. Avoiding penalties.
Chapter 5 Simple Rules for Writing Off Asset Purchases
Jared, the computer whiz. Capital Cost Allowance claims. Fast
computer write-offs. Are expenses repairs or improvements?
Buy or lease? Half-year rules. Adjusting returns on time.
Chapter 6 Maximize Home Office and Auto Expense Benefits
Tom, the skilful woodworker. The second income. Keeping an
auto log and worksheet. Calculating your home workspace.
Calculating claims for the business portion of the expenses.
Chapter 7 Profiles of the Self-Employed
Marcie, her babysitting business and other occupations. Sole
proprietorship or partnership? Artists and writers. Child care
providers. Farmers, expenses and special provisions.
Chapter 8 How to Put Your Family to Work and Write It Off!
Raj and the family restaurant. Employing family members. Your
obligations as an employer. Tax-free benefits for family members.
Chapter 9 Often-Missed and Little-Known Family Tax Deductions
The Hampton family’s enterprises. Income splitting and
diversification. Various ways to increase your family’s income—
RRSPs, RRIFs, RESPs. Tax credits and write-offs.
Chapter 10 How to Create Serious Wealth
Thomas and his software company. Planning to maximize
benefits from the capital gains deduction. Qualified farm and
fisher’s property and shares in small business corporations.
Chapter 11 How to Turn a Tax Audit Into a Profitable Experience
Rubin, the musician. The net worth assessment. Compliance,
appeals and penalties. Some real life cases. Audit strategies.
Chapter 12 Taxpayers and Their Advisors: The Top Check Lists
Marshall, who’d never filed a tax return. Choosing a tax advisor
and the questions to ask. Ten skill-testing questions.
Conclusion
Index
Chapter 1 Key Reasons Why Canadians Pay Too Much Tax
David, the typical one-source income earner. Taking a strategic
view to saving taxes. Multiplying income sources. Using
legitimate tax-savers. Understanding tax audit risk.
Chapter 2 How to Tax Cost Average
Mary, the sales agent. Timing income. Deferring income.
Making retroactive tax adjustments. Using carry-over provisions.
Beware the CPP. Proprietorships vs. incorporation.
Chapter 3 How to Start a Tax-Efficient Small Business
Marlen, the gourmet cook. When does a hobby become a
business? Is there potential for profit? Meeting the onus
of proof. Your Business Start Plan and Daily Business Journal.
Classifying expenses. Claiming losses.
Chapter 4 Write Off More Deductions Without Changing Your Life
Julie and Janet, artist and writer. What is a genuine tax-deductible
expense? Statement of Business Activities. Current vs. capital
expenses. Restricted and mixed-use expenses. Avoiding penalties.
Chapter 5 Simple Rules for Writing Off Asset Purchases
Jared, the computer whiz. Capital Cost Allowance claims. Fast
computer write-offs. Are expenses repairs or improvements?
Buy or lease? Half-year rules. Adjusting returns on time.
Chapter 6 Maximize Home Office and Auto Expense Benefits
Tom, the skilful woodworker. The second income. Keeping an
auto log and worksheet. Calculating your home workspace.
Calculating claims for the business portion of the expenses.
Chapter 7 Profiles of the Self-Employed
Marcie, her babysitting business and other occupations. Sole
proprietorship or partnership? Artists and writers. Child care
providers. Farmers, expenses and special provisions.
Chapter 8 How to Put Your Family to Work and Write It Off!
Raj and the family restaurant. Employing family members. Your
obligations as an employer. Tax-free benefits for family members.
Chapter 9 Often-Missed and Little-Known Family Tax Deductions
The Hampton family’s enterprises. Income splitting and
diversification. Various ways to increase your family’s income—
RRSPs, RRIFs, RESPs. Tax credits and write-offs.
Chapter 10 How to Create Serious Wealth
Thomas and his software company. Planning to maximize
benefits from the capital gains deduction. Qualified farm and
fisher’s property and shares in small business corporations.
Chapter 11 How to Turn a Tax Audit Into a Profitable Experience
Rubin, the musician. The net worth assessment. Compliance,
appeals and penalties. Some real life cases. Audit strategies.
Chapter 12 Taxpayers and Their Advisors: The Top Check Lists
Marshall, who’d never filed a tax return. Choosing a tax advisor
and the questions to ask. Ten skill-testing questions.
Conclusion
Index