Ontario Community Newspapers

Waterloo Chronicle (Waterloo, On1868), 20 Mar 2013, p. 21

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. mm-Munmn-zr a; , , u , v3 3 .3 T u , ,, .. 3_ aft-W3 1 . 7an ~ . a I ~ ' 3 i a 1 {fr-f ;' 4 â€" ”if 3 ,m ’ s 5 s 4 , 5. 5; . L f " ' I it taxtim fo b mess? ”-"‘f’ifi""‘s~‘ w s e ry0ur us it" , g s , j 3» J j‘ ; "" ir fin , , p 0 ‘3 it.“ .,3 31“ 3: ‘ i 4 m, the income tax " ' can choose to file after its [J 3 ELle3 it i”) gab/1L! (a ,‘.3_jvkw1_vt_£ Wfiling deadline chooen yearend. “all!“ _ _‘,vl~- .t . ,./ , 135": “mags?” q ,.~ N1 . ~~ approaching. it is ple. if an mm busi- , 1" 1’" 3 -â€" 3 33 ‘j ~â€" 5 7 W3] ' ”if -\ 3 "-'"’- ' notunusualfiormetogeta beam-Yearnidofluly ‘ " "L3“- 1, r 1 , A .. . Iotofquestionstromcllents 3l.thenitwiilllletheretmn _‘3.3. 3 _' 33-3 3 ., / C3, f3, 3 3 3 this time of year about if CWMWNM ,f 3..(\3333_, ff" 3__‘/L__;‘ L“; \_ 3/ Q t h, 1 andwhentheyhavetofilea Auq.llndluly31thefol- " a ~ tumumfortheirbusineu lmngyaartlzhrllmontiu). lbw-minimum mmwfmvcflem EVERYTHING MUST GU' whowasconfusedaboutall wholegistaedhstyearaaa .- ofthisHehadregisteredhia , “Minefield-1- businoss last September as a any income from “if W’ r 3 23.1.3» sole proprietorship, and I!!!“ on (I!!! Fifi tax i321wc3393s3gfil ”if “21 i wanting to incorporate this _ return. He began the busi- 33 3 fiffiéfiggfiégfiy ;.3<;~'3_;;: 3, t m3 it: nets in September, so he , 33 33 » ‘ fi‘“ , ‘.~:‘ ‘ ‘ " E; _; 3 ”3 Here is how i set the wouldroponallthelneome 3 g ' Q3, » record straight for him, w ROY from h M from then 33 3 3"v33.). 3, . 8331.‘ a - ,3 3 3 “1 First of all, you need to WEBER uptoDocSl “MW!!- - 133:- 5333“ , s: _ 3 3 r' ' ‘ 3,3 ‘ understand the difference Moving 50m IS a 001" h , 7:4 . .33 A. ~, “it" ' 41; m if between sole ownership and like all other individual tax- DONG?" I 308808th he 53 3 - gig-33?“ 3 - {sift-3; an incorporated busines. payer returns. work With his mutant to ’ " $3333 55 3 3 gag s a" Businesses registered as if your business is inoor- set “P the corporation and K v I i‘éfiizrr‘m 3 33 j?» m“? a sole proprietorship are porated. however. the tax fli- file lncome from the busl- ' "153.737” “ ” 5?“ i“ ‘ viewed by Revenue Canada in; rulesarequlte different ness starting Ian. 1 of this an s as being tied to the individ- A corporation is viewed Y“!- ual both legally and from a as a separate legal entity. For more M on “I“! 3 . , 2 . tax perspective. What that What that means is the cor- your owner operated 0" ‘ ' t i ‘ 3,‘ i ’ 1 t i _ ' means is the profit or loss of poration eflectively files its incorporated ill-13111683. ‘ 3 ' this form of business is own annual tax return. just check out the Revenue 3 3 recorded on the owner's like we as an individual Canadawebsite atwwvmcra~ ‘ t _‘ 13 . 3 , , . - y ; personaltaxretum. taxpayer. mmmmcalltospeaktoa . 3, 3 i 3 3 > 3 3 v 3 5 3- x 1 3r 3~ 1 i 5 3; 3 in the first year of busi- The big difl'erenoe is the CM representative at 1-330- ' ‘ ‘- ' i - . i V 3 ness, the net profit of the corporation can choose its 959-8231 ‘ r 3 - business will be recorded as year end and its 12 months °" 3 , . 3 . 3 , i ! ‘ selfâ€"employment income in of operation. : t i g i ' 5 i I ‘ 3 :“ the owner‘s personal tax So instead of filing at the RoyWeberimnadvisorudm the ‘ ' ‘ 3' return, and is due April 30. end of April, a corporation WateriooSmallBusimCenm 3 5 lmCdiMhlfiflyM...“C-hw ‘ ' Operating ' denial microscope; for nngnifioofion & illumination ' 7» ODigitolX-myformininnlexpostn 'OrolConoarScrov-i 3_ OStridhiodionCotmol OEWSuAmpJPrunptiy 3 ' on.vuavmup-ur...am g . » t , 737 Colin-om Am. w. ~ 519.744.1277 e; a, , zj3;__ziiii%¢wl '-ffg:t - f“ a 7: '~":.;~ is? f ‘ 7 “F1. ‘ :« . ~ misfit. -- s “3:12?“ 33 33»<3,%3Â¥13% ‘ 537â€"53 Q3 ' "3,333 ‘ a xe ' ' 1 You mum in but new... timid: you in swim! a. “* W333 3 o‘LW THIS S UMMER....come to r. ,3 ;‘ ' ' g g Sir John A. Maedonald s.s.- «ff-- 3, ‘ f r l \ Home of the Highlanders " . r. for a tremendous co-ed l“ w“ mm m'“'““ CM“ “a! When: Monday July lst-Friday July 5th, 2013 -' -. . . w . - , , . Who: Boys and girls entenng Grades 4.5,6.7,8. or 9 f in Sept, 2013. All levels ofexperiencc welcome! “mics! UUWW’L‘E" M" “if -, Cost: $155.00 3 f To download a re istration form (due Ma 15. 2013), . , -~ , » - '~?4.‘- ~ 4 1 saw- t g Y new i l . _ N . , T visitourwebsiteat' ' it 1"; L‘ :’h- at "' H; . h .=_ 3:1“, i. p r A $9 ”- m. a; i ‘ (tpuxng'l in.” ‘ ‘ www.highlandemportscamp.com ' = 3 r' ' HM“ ' r . Pkwy. i

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