In this Finance Friday segment, FirstOntario Senior Manager of Business Services Colin Cyr outlines key considerations for business owners during tax season. Colin explains essential filing and payment deadlines for corporations and sole proprietors, the importance of understanding contributions such as CPP and EI, and how digital tools can simplify bookkeeping and record keeping throughout the year.
He also highlights how business owners can prepare by staying organized, separating expenses in real time and planning ahead for tax obligations. Working with qualified advisors ensures that business owners meet CRA requirements and make informed decisions about deductions, contributions and write offs.