Are you the owner of a small business in BC? Or thinking of opening one and adding to the rich diversity of businesses here? There are many questions to ask yourself when you own a small business. One of the most important questions is how much does it cost to file when you own a small business?
Let’s get you set up.
The basic range is from $250-600 reflecting the combination of preparing and filing your small business and personal taxes. It is possible, however, for the amount to exceed $600 should you choose a higher-priced accounting firm or if your business is fairly complex. Most firms have a flat rate for businesses, no matter how long it takes them to prepare the taxes, however this charge varies greatly among firms. Businesses are considered complex when capital assets used by the business need to be incorporated into the tax return. Furthermore, it is also considered complex when there are at home business deductions as well as vehicle milage and other expenses needing to be claimed.
So, this year don’t forget about budgeting for your taxes! Instead let’s concentrate on the fun parts of your small business!