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Why Outsource Your Small Business Accounting in Toronto

Why Outsource Your Small Business Accounting in Toronto

Article Key Takeaways: Why outsourced accounting is important for your small business What an outsourced accountant can do for your business Outsourcing refers to dedicating a certain aspect of a business to the hands of a specific department that is not otherwise present in your

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How To Use the GST/HST to Save on Taxes? Quick Method

Table of Contents What is the Quick Method for GST/HST Purposes?Who is eligible to elect the Quick Method? Quick Method in Action1) Regular Method 2) Quick MethodFAQContact FShad CPA Today for More Information Article’s Key Takeaways: Electing to use the Quick Method may create opportunities for tax
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Tax Write-Offs for OnlyFans Creators

Table of Contents Common Tax-Write Offs for OnlyFans CreatorsRequirements for DocumentationNeed More Help With Your Taxes? You can make a living if you have a talent for creating content in writing, videography, photography, design, or social media. And if you're making money as a content
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OnlyFans Taxes for Canadians

Curious to know how the Canadian tax system applies to OnlyFans (OF)? Generally, you are responsible for paying your portion of income tax if you have joined OnlyFans as a performer and have begun earning money. Whether making $10 or $100,000 on the site, you

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How to Open a Corporation in Ontario

Are you planning to open a corporation in Ontario?  Understanding how to open a corporation in Ontario can save you time and money.  There are many reasons why you might want to open a corporation. Perhaps you are starting a new business or expanding an

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Benefits of Incorporation for Realtors in Ontario

Key Takeaways: As of October 2020, real estate salespersons or brokers in Ontario can now incorporate their business income through a A Personal Real Estate Corporation (PREC) A PREC has many advantages including tax deferrals and income splitting There are many factors to consider when

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What is a Holding Company and When Should You Set One Up?

Table of Contents Key takeawaysWhat is a Holding Company?Advantages of a Holding CompanyAsset ProtectionTax Savings & DeferralsHelp claim the Lifetime Capital Gains ExemptionDisadvantages of a Holding CompanyCosts of IncorporationIncreased Administrative EffortsWhen Should You Set up a Holding Company? Key takeaways: A holding company is a