Navigating Canadian taxes as an unincorporated business owner or self-employed professional can feel overwhelming—but it doesn’t have to be. Understanding the essentials will help you stay compliant, maximize deductions, and reduce your tax bill with confidence.
Have You Ever Asked Yourself?
❓ What expenses can I deduct to lower my taxes?
❓ Do I need to charge GST/HST, and how does it work?
❓ How do I track my income and expenses properly?
❓ What can I do to avoid costly tax mistakes?
If so, this book is for you!
Small Business Tax Facts is a clear, practical guide designed specifically for sole proprietors and unincorporated small business owners. Written by Ronika Khanna, CPA, CA, CFA, this book breaks down tax concepts into easy-to-understand terms, helping you navigate your tax obligations, avoid penalties, and keep more of your hard-earned money.
📌 How business income tax works for small business owners and the self-employed
💰 The difference between tax deductions and tax credits (and how to use them to reduce your tax bill)
📝 A detailed breakdown of business expenses you can claim—with real-world examples
🌐 How to register for and navigate your CRA online account to manage tax filings
📊 Step-by-step guidance on preparing your business tax return and filing GST/HST returns
🧮 CPP contributions explained—how they’re calculated and their impact on your taxes
🔄 Key differences between being an employee vs. self-employed, so you can assess tax implications
📂 Essential accounting basics to make tax season easier
🔹 Sole proprietors and self-employed business owners who want to take control of their finances.
🔹 Freelancers, consultants, and independent contractors navigating self-employment for the first time.
🔹 Bookkeepers and administrators supporting small business owners with tax compliance.
🔹 Side hustlers and new entrepreneurs looking for a solid foundation in tax basics.
This book keeps things simple, clear, and actionable—no complicated tax jargon, just the information you need to stay compliant and save money.
Understanding your taxes means less stress, more savings, and better financial control. Get your copy now and start running your business with confidence!
Jessica de la Montagne
5.0 out of 5 stars Practical and informative!
I have long prepared my own tax return, including T2125, for my part-time practice out of my home, so I am already familiar with forms, etc. but new on-line software falls short of the old paper-format and only lends confusion to what to put where because of the "interview" format, which is too general. This book clarifies most "ambiguous" things (e.g., Where should I put Continuing Education/Professional Development aside from the Conventions category?) and will also be helpful in re-categorizing some things in my bookkeeping software in preparation for next year's return. The book is very practical, easy to understand, and very informative with specifics.
smratliff
5.0 out of 5 stars Very helpful and clear
Being not only new to being self-employed, but also new to Canada, this book has been very helpful in feeling confident to get my business started. Trying to find every bit of information you need searching online is the modern way, but it's actually much more efficient (and pleasant!) to have a complete, concise book you trust on your shelf. Thank you Ronika.
Peter Beitz
5.0 out of 5 stars Extremely well written, informative, and to the point.
This book was extremely well written, informative, and to the point with all relevate information for anyone considering starting their own business.
Eva
5.0 out of 5 stars A Must!!!!
This book is absolutely fantastic. I would suggest to purchase it even if you already started your business. You can always learn new things.
Sasha
5.0 out of 5 stars Very easy and simple guidance to begin with
Easy for those without accounting background to understand. Mainly introduces individual tax but not much on corporate tax.
Dustin
5.0 out of 5 stars Tons of useful info and easy to read!
I learned a huge amount in so little time! Packed with information in an easy to read form for people who need it!
Shashank Bharadwaj
5.0 out of 5 stars No Tax Law Jargon - a Thumbs Up
Hi, I am a small business owner and reading about tax sometimes gives me a headache, but this book made understanding concepts so easy and simple. I definitely recommend this to anyone who wants to read about tax over a weekend to understand most overarching concepts explained in lay man's language.
Hi, I’m Ronika Khanna, a CPA, CA, and CFA. I help Canadian small business owners, freelancers, and solopreneurs simplify taxes, accounting, and finance so they can run their businesses with confidence. My goal is to break down complex financial topics into clear, actionable steps—no jargon, just practical guidance.