How Medical Professionals Can Avoid CRA Audit Triggers: Advice from an Ex-CRA Auditor

Small businesses in Canada strive to generate profit while managing expenses and staying tax-compliant. In today’s competitive landscape, outsourcing various business functions to foreign service providers has become increasingly common. The primary reason? Cost reduction.

With rising operational expenses and cash flow challenges, outsourcing enables small businesses to remain competitive and sustainable. While this approach may result in fewer local jobs, it plays a crucial role in keeping small enterprises alive and thriving. As a business owner, acknowledging and strategically considering outsourcing can significantly impact your bottom line.