On Line Business Tax Saving Tips
I was requested to talk about tax saving ideas for Online Business owners by Arik Sternberg founder of a Vancouver Meetup group Vancouver’s ‘Online Business Optimization’.
On line revenue generating business are taxed like any other money making business in Canada. The most important thing on line business owners can do to reduce their tax bill is to keep a detail record of all expenses related to their on line business. This alone will reduce their taxable income significantly. Further tax planning should be done with a tax advisor.
Here are the slides of the presentation.
Obama Tax Cut Deal Will Cost U.S. For The Long Run
The Bush tax cut has been extended for two more years and it is now called the Obama Tax Deal.
Bush tax cut has been effective since 2002 when the U.S. economy was doing rather good. But since then, with housing market collapse and unemployment of millions of people, the economy has been spiraling downward.
It does not make any logical sense to me to claim that extending the Bush cut will create jobs for American People.
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2010 Holiday Gift from Vancouver City Council – 4.2% Property Tax Increase
The best city on Planet Earth got a little more expensive to live in and owning property. The Vancouver City Council decided to increase Residential Property Tax by 4.2% and Commercial Property Tax by 0.2%.
City’s operating budget stands at $1.03 billion.
In November the city also approved a 2.75-per-cent increase in user fees, primarily related to sewer, water and waste utility services. Some of those services were provided by Metro Vancouver.
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Canada’s Economy Still Need Stimulus
So, all the economic news about the resilient economy of Canada in this world wide recession is over?
According to Bank of Canada, the economy is suffering from low productivity and high Canadian dollar with resulting falling exports.
In a statement the Bank of Canada said “The global economic recovery is proceeding largely as expected, although risks have increased.”
I cannot justify the above positive statement by what the bank said afterwards which is closer to the reality of global economy.
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Income Tax Is The Divider In US Senate
Here is one glowing example of how important Income Tax is in our daily life and politics.
As a country U.S. is in a dire economic situation.
After all the news, views of political pundits that recession is over, they got a so called “shock of a lifetime” with U.S. labour market job data.
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