Did you know that small business owners have specific tax requirements based on their business structure, which is different than personal income requirements? When you start your business, it's important to understand what these requirements are and how best to manage your accounting. In this four-part series, you will learn about the difference between sole proprietor and corporate income tax, what expenses are deductible, as well as GST and payroll requirements.
Part 1: Income tax basics 1 (60 min)
Learn the fundamentals of corporate income tax and find out how your business will be taxed when operating in Alberta. Learn the difference between a sole proprietor and a corporation, and the tax implications of each.
Part 2: Income tax basics 2 (60 min)
This session will help you further develop your tax knowledge by covering key concepts such as: under-reporting income, late reporting, and claiming vehicles and other expenses.
Part 3: GST and how it affects your business (60 min)
Get an introduction to GST and learn when/how your business needs to collect and remit it to Canada Revenue Agency.
Part 4: Payroll and how it affects your business (60 min)
This webinar will introduce you to the responsibilities of being an employer and paying employees.
Kent is a Chartered Accountant and has practiced accounting in Edmonton for nearly 10 years. In that time, he has worked for medium-sized accounting firms and was the Corporate Controller for a large engineering firm. Kent’s skills are focused in: audit of privately held companies (up to $300M in revenues); tax planning/corporate structure for medium-sized businesses; and operational budgeting including forecasting future cash flow.