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In running a business you need to account for income tax on your profits and the expenses or deductions you may claim against your income.
Find out how to become a look-through company (LTC), what your tax obligations will be, what happens when your company is no longer an LTC, and maintaining or ceasing qualifying companies (QC) status.
Different types of income tax returns for different businesses.
Learn about the kinds of income tax return that must be filed at the end of the tax year based on how the business is operated, due dates for tax returns and what to do if a person has difficulties in paying income tax.
Like all other business expenses, you have to budget for the tax payments you are required to make.