As a new business owner do you cringe when you see that little envelope from the CRA show up at your place of business? Then keep on reading! As a new small business owner there’s an unspoken rule that all entrepreneurs are the wearer of many hats. Many factors attribute to this philosophy especially in […]
Category: Finance
Dad…Mom… I Need Your Help: A Guide to Loaning Money to Your Children
If your son or daughter approaches you for a loan to start a business, make sure they have a solid business plan. […]
5 Accounting Tips for the Small Business Owner
Being the boss is much more complicated than being a simple employee. You don’t cash in your paycheck every two weeks and forget about your worries. There are a lot of responsibilities you need to juggle at once. […]
How To Save Money By Outsourcing Your Accounting
If you run your own business you know just how expensive professional accounting charges can be. Financial statements are an essential element of a successfully run business, yet their cost can be high. […]
Corporate Tax – who has to file?
This is a question often asked of me by new clients. “I have a corporation, do I need to file a tax return? I don’t earn very much”. The truth is, all resident corporations have to file a tax return every year, regardless of income levels or any other factors. […]
Compilations and Notice to Readers (NTRs)
So what are these things anyway? What is an notice to reader (NTR), and why do I care about it? […]
Still doing the bookkeeping yourself?
So you’ve set up your new bakery. Everything is going great so far. You’ve got a few customers walking in the door every day, and they’re being serviced to the best of your abilities. People are raving about the best damned sour-dough they’ve ever tasted. At the end of the day, you throw all your […]
The Value of a Good Financial Audit
How often have you thought to yourself “Hmm . . . I’d better get a high quality audit of my business done this month”. Probably not very often. So let’s chat today about why you need this service performed every once in a while. […]
Importance of HST determination
For many businesses, the collection of HST is part of regular business operations. When the HST rules were released on 1 July 2010, this affected consumers as more HST had to be paid in buying certain goods, but benefited small and big businesses as they were now able to collect back all the tax paid […]