Dec 11, 2024 | Contractors & Sole Proprietors, Tips for your Business
As the end of the year approaches, small business owners in BC need to prepare for tax season. Proper planning and timely action can reduce your tax liability and set your business up for a successful new year. RHN is here to help with some essential year-end tax... 
Apr 5, 2024 | Contractors & Sole Proprietors, Tips for your Business
Being an entrepreneur is rewarding, but it certainly doesn’t come without challenges. One of the most pressing concerns for many entrepreneurs is the issue of profitability. In the pursuit of success, not all ventures immediately yield profits, leading to questions... 
May 15, 2023 | Contractors & Sole Proprietors, Personal Tax and Finance, Tips for your Business
If you’re self-employed, there are a number of expenses you are eligible to deduct on your tax returns. Knowing what to deduct can make a significant difference in your tax liability but, like many self-employed Canadians, you may find it difficult to keep track of... 
Sep 24, 2020 | Personal Tax and Finance, Contractors & Sole Proprietors
1. Employees (BC) Employment relationships in BC are governed by the Employment Standards Act (and related rules). Employers typically must withhold income tax, CPP, and EI (where applicable), remit on schedule, and provide vacation pay, termination notice or pay, and...Jan 19, 2018 | Contractors & Sole Proprietors, Personal Tax and Finance
Canada’s tax on split income (TOSI) rules apply to certain types of income received by adult family members from private corporations (and some related structures), including dividends, interest, and certain capital gains, unless an exclusion applies. The rules...Jun 1, 2016 | Contractors & Sole Proprietors, Personal Tax and Finance
Self-employed? If you or your spouse or common-law partner carried on a business in the year, your T1 personal income tax and benefit return is generally due June 15 each year (or the next business day if June 15 falls on a weekend or holiday). Balance owing: Any...