FIVE Magazine YB - VOL2 - Page 31

Make use of R& D expenses Expenses related to research and development activities incurred to develop and enhance your products and production process, may qualify for valuable tax incentives in the form of refundable and non-refundable tax credits. While the guidelines governing program eligibility can be complicated, a wealth of information is available at the Canadian Revenue Agency to help your eligibility for the program. Unfortunately, we can’t eliminate taxes. But, we can use wise business practices to minimize or defer income taxes that would otherwise be payable. These are only a few of the tax-planning opportunities available to you as a business owner. Talk to us about a complete tax check-up to help identify all the tax planning strategies available to you. After all, the tactics you employ today will help you reap rewards at tax time next year. n VOLUME 1 - ISSUE 2 | yourBusiness Online 31