Business Practices

Growing a business can be a difficult task. We tend to focus our time on the areas that we are familiar with or come natural to us. Consequently, the other areas are left unaddressed and though it may not present issues in the short term, it usually has an impact on the long-term health of the business.

In general, you should keep record of all amounts claimed for tax purposes. The CRA advises to keep your receipts and other supporting documentation for up to 6 years. Tax returns filed by individuals,CCPC’s, and trusts become statute