Fundamental areas of tax management

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Reference no: EM133047349

Handicraft businessSmall business owner-managers should be aware of 10 fundamental areas of tax management.

  • TAX DEFERRAL
  • INCOME SPLITTING
  • MARGINAL TAX RATES
  • DEDUCTIBLES
  • GOVERNMENT TAX-RELATED PROGRAMS
  • THE INCORPORATION QUESTION
  • THE REMUNERATION QUESTION
  • TRANSFERRING THE BUSINESS: CAPITAL GAINS
  • GOODS AND SERVICES TAX (GST) AND PROVINCIAL SALES TAXES (PST)

1. Select any three of the ten tax management areas mentioned in 1 above and explain how you can benefit from them when you start operating the small business you are working on.

Reference no: EM133047349

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