If you own a small business, you know that when it comes to filing taxes, it’s important to save every dollar possible. Fortunately, we found an article that has some great tax tips for small business owners. Kustom Design is dedicated to helping small businesses with all of their financial needs, as well as offering financial tips all year around to help businesses – and you – save money.
There are many legal ways for business owners to save money on their taxes. Some of the ways discussed in this article include splitting incomes and corporate shares of the company between family members. Another way you can save money on your taxes is to put your RRSP into your spouse’s name. This will only help if they have less taxable income than you do. Setting up a family trust and paying your family members to work at your business can also reduce the taxes you have to pay. For further explanations of these tips, and to learn more about saving money on your next tax return, click here to read the article.
Don’t forget that the Kustom Design team is always here to answer your tax related questions. Contact us today to book your consultation!
About Kustom Design
Kustom Design is a group of interconnected companies, each company striving for the same goal: to provide excellent Accounting and Financial products and services to help clients SAVE on taxes, properly manage their finances and ultimately, achieve Financial Freedom and Lasting Wealth. The Kustom Design Group offers a complete line of products and services in key areas of accounting, finance and tax; from accounting, consulting and strategic planning to financial and tax education.
Kustom Design | 403.219.0602 | Calgary, Alberta | www.kustomdesign.ca