WebYou can use a different name to conduct business. With a word name, you have the legal right to use it across Canada once Corporations Canada approved your name. To get a … WebMar 29, 2024 · To explain, suppose you drove your vehicle 20,000 kilometres total over the year, and 5,000 of those kilometres were for business. In this case, you can claim 25% of the vehicle’s fair market value, or $2,500, as a business expense. The vehicle is a capital expense, and that means you can’t write off the $2,500 right away.

Registering a corporation - Canada.ca

WebThe conversation between the painting and myself starts. I paint, collage, de-collage, scrape, sand, and add more paint. I build many layers by … WebMay 10, 2010 · The Income Tax Act, however, contains a special anti-avoidance rule to prevent individuals who might otherwise be properly regarded as employees from incorporating their own companies which in turn provide services to what otherwise would have been their employers. the o-spot

Filing taxes for an incorporated business? Here’s what to watch for

WebSep 28, 2015 · On the other hand if you have a more complex incorporation with many individuals and perhaps a number of different classes of shares, you may wish to speak … WebSep 8, 2024 · If an unreasonable salary is paid, there is a risk the Canada Revenue Agency (CRA) could deny the deduction against income for the corporation, and the income … theos podcast