Small Business - Tax credits


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Cougar   
Member since: Mar 09
Posts: 89
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Post ID: #PID Posted on: 16-01-11 11:43:56

Hello fellas :) - just a few quick questions, have a small business on the side that makes under 30k annually which is classified as small business by CRA. Under these circumstance.

1. Should i bill HST on my invoices to my client for my services ?

2. Services are entirely based on labor (per hour rates), doesnt require much material or travel, In this case can i claim any Tax Credits at all ? and if i can what would they be ?

3. I will have to pay taxes on this income, would collecting the taxes from the client (HST) help me doing so. I wanted to use this business to help me get a tax break as i have a full time job at the side - but i cant seem to find any tax credits i can use in this case. I do not use home office but provide services at the site owned by the client's customer.

All help is always appreciated.

Cheers.





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