Small Business Tax Tips – Tax Planning Strategies for Canadian Small Business



Small Business Tax Tips – Tax Planning Strategies for Canadian Small Business (Video 2 of 3)

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In this video training tutorial I cover some of the tax planning strategies available to small business owners in Canada. I go over the opportunities available to split income with spouses and family members. We also review a number of small business tax write-offs that can save any business owner money. Small business tax deductions are a great benefit available to Canadian entrepreneurs and small business owners.

Additionally, we will look at wealth planning and retirement issues, something that is often overlooked by small business owners.

Also explained are some tax planning opportunities in the realm of benefits such as Private Health Service Plans (PHSP), Group insurance and Health & Medical Trusts as they relate to Canadian small business. I also go over some of the strategies related to home office deductions, vehicle expenses and other lucrative small business tax write-offs.

Being a self-employed small business owner in Canada definitely has its perks. This tutorial will make a lot of these benefits clear to you. For a full explanation on these benefits and how to set them up from scratch, enroll in the SBC Knowledge Systems Small Business Blueprint.

This is the first of three free training videos leading to the launch of the Small Business Blueprint offered at SBC Knowledge Systems Inc. To watch the remaining tutorial in this training series, click on the following links:

Video 1 – Critical decisions Canadian Small Business Owners Need To Make

Video 3 – Secrets to Entrepreneurial & Small Business Success

Small Business Blueprint – Course Enrollment

In the Small Business Blueprint we cover a number of vital topic areas related to starting a small business in Canada such as:
– forms of business organization in Canada – Proprietorship, Partnership & Corporation
– Advantages & disadvantages of each type
– Partnership agreements and shareholder agreements
– Starting a small business in Canada – Step by step checklist
– Compensation strategies – how to pay yourself with salary or dividends
– Tax savings strategies – Small business tax tips to help you save money
– Small business tax write-offs and deductions – What you can and cannot deduct
– Small business accounting – what you need to keep
– Small business bookkeeping – how to setup up your bookkeeping system fast and easy

Check out some additional Canadian small business resources here on YouTube
– Some great small business tax loopholes from Allan Madan, CPA, CA

– Set up a New Business In Four Steps from the Canada Business Network –

– 5 Tips to Reduce Your Canadian Small Business Tax Bill (Webinar) –

– Starting a Small Business in Canada by the Business Development Centre

Check out our website at for additional courses and other resources.

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