Being self-employed has a lot of rewards, including the freedom of being your own boss, job security, and the ability to use some of your expenses to reduce your tax obligations but what expenses can you claim?

Did you know that businesses are allowed to claim back the GST/HST they pay on goods and services through Input Tax Credit (ITC) and deduct it from the amount they send to CRA?

When the time comes and you, as a business owner, consider start paying yourself and hiring staff, there are several things you need to be aware of with regards to ensuring you are following local laws and regulations. Registration: Depending on the type of your business structure and whether you are running the business by yourself or have employees, your circumstance will dictate what is required of you as a business owner, lets consider the following business structures and what is required from each one of them: 1. Sole Proprietor: If you are a sole proprietor, you would not need to...

By law most businesses that employ workers (including family members and sub-contractors) must register with the WSIB within 10 of hiring their first full or part-time workers. What is the purpose of Workplace Safety and Insurance Board (WSIB)? The WSIB provides no-fault collective liability insurance and access to industry-specific health and safety information for employers; provides loss of earnings benefits and health care coverage for workers; and provides help and support for return to work after an injury or illness incurred by workplaces covered under the Workplace Safety and Insurance Act. The WSIB is entirely funded by employers. Mandatory coverage...