Sole Proprietors can wait until June 15th to file their tax return for the previous year. However, any money owing is due by April 30th.
CCRA will charge interest on any amount owing after April 30th.
Late payments of your payroll tax remittance will result in HIGH PENALTIES AND INTEREST. Even one day late, can be very costly.
Be Aware of your Due Date!
If your small business is PROFITABLE, you may want to consider INCORPORATION.
Advantages: Limited liability & Lower tax rate Disadvantages: Higher administration costs & Set up cost
Is in the business of providing services to help entrepreneurs build and grow in their chosen field.
Bookkeeping is typically the most undesirable and stressful task of any business owner and as a result it usually stays at the bottom of the list of things to do. This can make tax time so much more painful than it needs to be.
When bookkeeping is done on a regular basis it gives you peace of mind as well as the knowledge of knowing how well your business is doing. It can also help minimize surprises at tax time and give you more time to grow your business and earn money.
We offer a full line of bookkeeping services for new and existing businesses
Payroll – including T-4′s and Roe’s
Government Remittances – GST and Source Deductions
Monthly and Year End Financial Statements
Contact e-balance if you have any Accounting questions for your small business. Tel: 604-818-9899 Fax: 604-924-9801 firstname.lastname@example.org