If you’re 1.3 million small businesses in Canada, chances are you have run into the challenge of trying to pay your businesses taxes using time-consuming and inconvenient traditional methods such as wire transfer, cheque, pre-authorized debit, or in-person at your bank - as not every bank or credit union offers this service to you. While this may be surprising to some, to other business owners it’s an unfortunate reality leading them to scramble to find an alternative payment method to pay their business taxes each year. Luckily, in Canada there are online payment solutions like PaySimply that will help business owners simplify how and where they pay their taxes.
Businesses with fewer than 99 employees make up about 98% of all businesses in Canada, with signs of continuous growth. If your business falls into this category, tax time can be a confusing one to navigate. Here are 3 tips to help you improve the way you pay your business taxes.