The start of 2022 has everyone thinking about the “To-Do” list and accomplishments for the year ahead.
It’s never too early to start planning for the upcoming tax season for your business.
Carson Law is here to help!
Maintaining Positive Cash Flow for Your Small Business
Earning Passive Investment Income Inside Your Company
In 2017, the federal Liberal government sent shock waves rippling through Canada’s small business and corporation owners with the announcement of their intention to make certain changes to how passively held income within a private company is taxed. After their initial proposal faced some harsh feedback and criticism, the government took a period of time to closely examine their desired changes and refine the plan’s focus and scope. These changes will come into affect in 2019, so here is a brief summary of what private corporation owners should be expecting as well as some possible strategies to mitigate the impact.