Top 10 Tax Tips for Small Businesses in Canada

1. Separate Personal and Business Expenses

This is the #1 mistake. Use a dedicated business credit card.

2. Track Home Office Expenses

If you work from home, you can deduct a portion of utilities, rent, and maintenance.

3. Don't Miss the Small Business Deduction (SBD)

Ensure your CCPC status is maintained to qualify for the lower tax rate (approx 9-12%).

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