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Course Level :Basic
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Credits :1
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Pre-requisites :None
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Advance Preparation :None
The COVID-19 pandemic has, for pretty much the entire year, certainly created much disruption with the way we live every day. In the tax world, there was some relief, including an extension of some tax-filing deadlines. But some things never change. Taxes will always have to be paid eventually, and the Canada Revenue Agency hasn't stopped working to collect them.
So it's still important to do some planning to minimize the tax bill when it comes due.
With that in mind, and before we put 2021 behind us, let's look at some year-end tax planning strategies for both business owners and employees before next year's April tax-filing deadline is once again upon us. Amid the ongoing challenges of the pandemic, tax planning may not be top of mind for many business owners, but it’s more important than ever to plan for income taxes to avoid any unpleasant surprises later on.
In addition to tax considerations, your financial plan should reflect investment philosophies, sound business practices, and motivational goals. Owner-managers should ensure that sufficient funds are retained to meet business objectives; given the uncertainty in the economic environment, cash flow management is especially important.
With the help of this CPD E-Book individuals and owner-managed businesses will be able to save tax.
In response to the COVID-19 pandemic, federal, provincial, and territorial governments have introduced many financial incentive programs to help individuals and businesses, as well as extending many filing deadlines for certain income, sales, and capital tax and other returns; certain payment deadlines were also deferred, including those for installments and final balances.
This CPD E-Book will highlight some of these incentives and deadline extensions too.
Advisor, Entigrity Solutions LLC
Entigrity is a leading offshore staffing solutions provider to 600+ accounting and tax firms situated across the US, CA, and the UK). The company helps small and mid-sized accounting firms hire qualified and experienced offshore staff that works from our offices in India.
Headquartered in Sugar Land, TX, Entigrity has 7 offshore offices located across India; 3 of them in Ahmedabad and 1 each in Indore, Vadodara, Rajkot & Kochi. They are an ISO 27001:2013 certified organization for information security and ISO 9001:2013 certification for quality management. They exceed the standard compliances for best business practices in terms of information security and quality management. Entigrity has provided consultation/advice to over 3000 accountants and assisted them in converting some of their core challenges into opportunities.
18 Ratings
PM
Nov 5th, 2023
Quick refreshing of tax planning
XJ
Aug 7th, 2023
good
