Guidelines For Deducting Conference and Training Expenses

Attending conferences and investing in ongoing training can be a great way for small business owners to keep current on industry developments and improve their skills.  It also allows for networking opportunities and occasionally includes trips to exotic locations (and Las Vegas), which can be a nice break.  The best part is that the cost of both the events and travel are deductible against your business income, subject to specific guidelines discussed below.

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What Small Business Owners need to know about Tax Filing Deadlines for 2014

One of the responsibilities of being a small business owner requires having to submit a variety of tax declarations by specific deadlines or face consequences that involve penalties, interest and if left long enough, aggressive letters from Revenue Canada and Revenue Quebec.  The bad news is that there is no way around it and ignoring it does not make it go away.  The good news is that if you are prepared and organized it doesn’t have to be painful and can actually be quite straightforward with the right infrastructure.  The first step is to be aware of the deadlines and understand the obligations that go along with it:

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