History, 17.05.2021 16:50 markjiron2880

PLEASE PLEASE HLP NOW PLEASE PLEASE HELP list the 8 things a Canadian business owner can do to reduce their taxes.

Then give a BRIEF SUMMARY under each item.

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Answer from: dondre54

Explanation:

File your taxes on time. ...

Hire a family member. ...

Separate personal expenses. ...

Invest in RRSPs and TFSAs. ...

Write off losses. ...

Deduct home office expenses. ...

Claim moving costs.

Answer from: kayla4352

Balance your Dividend/Salary Mix:

As a small business owner, you are entitled to withdrawing cash from your corporation as either a dividend or salary. Both have their perks and downfalls. Ultimately, it is up to the owner to determine what mix will maximize their earnings (based on each owner’s unique circumstances).

Know your eligible expenses:

Money spent on your work as a small business owner can be claimed as a tax deduction under reasonable circumstances.

Keep track of your money:

As a small business owner, tax prep begins the moment you make income through the business.

Consider paying income taxes every month

If you have trouble budgeting or simply don’t like the idea of one massive payment at the end of each year, consider paying income taxes monthly.

Consider a Health Spending Account (HSA)

Every year, small business owners turn to traditional health insurance because it is so widely marketed. However, you only want to insure low-probability, highly catastrophic events like your property burning down.

Paying salary to your family (Income Splitting)

The key is reasonable conduct. Any salary paid out will count as a business deduction. However, the salary must reasonably match the services provided.

Apprenticeship Job Creation Tax Credit

If your business hires tradespeople, consider applying for the apprenticeship job creation tax credit.

Create a seperate company for tax-deferred investing

Outside of registered retirement plans, you normally invest with after-tax dollars. Instead, you can move funds out of your business to a related holding company.

Explanation:

Answer from: Quest

because he created electricity

Answer from: Quest

geography

this is because warmer climates often don't get people sick from the flu and regions where it was often colder more people received the flu. hope this if you need more reasoning i am here to

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