business planning

How Do You Know When To Borrow Money For Your Business?

Following your business plan helps you make decisions about borrowing. You know, that document you created when you first started your business? You never did one, you say? I don’t know how many times I … Read more

Struggling To Pay That Tax Bill Every Year?

Quite often, as sole proprietors, we have the tendency to want to spend what we bring into our accounts. Yes, even someone as disciplined as myself still sees the cash in the account and the … Read more

Bookkeeping Paperwork

15 Tips to Make Your Bookkeeping Paperwork Easier To Manage

Whether you do some, all or none of your own bookkeeping tasks, accuracy depends on maintaining detailed records. Misfiled and lost transaction records can cost you money because (a) legitimate expenses incurred may not be … Read more

More Money In Your Pocket And Better Decisions

As sole proprietors, we tend to mix business and personal expenses together on the same accounts, bank or credit card. I cannot stress how important it is to keep them separate! Open a bank account, take … Read more

Handling Payroll for Your Small Business

It is a very time-consuming task to take on doing payroll for your employees. You have to learn the rules for holidays, commissions, T4’s and ROE’s. Have you ever done up an ROE for someone? Oh … Read more

Why Would CRA Ever Audit Me?

I am often asked the question: what reason would CRA ever have to audit me? This is my opinion but it could vary in many ways: If you owe them money. Did you forget to pay … Read more

Rewards, Gifts and Bonuses Have Tax Implications

It’s nearing the end of the year… I know, where does the time go? I have no idea where summer went! Often business owners like to give bonus gifts, rewards and so on at Christmas … Read more

How to Charge Sales Tax for Different Provinces in Canada

Are you a business that does business with other provinces in Canada? A client brought it to my attention that they were uncertain what they should be charging for sales tax. The bottom line is … Read more

Tools To Keep Your Small Business Safe

Are you among the small businesses that have not put thought into Worker’s Compensation and the Occupational Health and Safety Act? If you haven’t, remember, it’s not only the law but the right thing to … Read more

Link to Canadian Tax Packages for All Years

Each package includes the guide, the return, related schedules, and the provincial or territorial schedules, information, and forms (except Quebec). Click here to access this resource on the government of Canada website.    

bookkeepers and accountants

Bookkeepers and Accountants Are Not the Same

Your successful small business needs both a bookkeeper and an accountant. And there’s a reason why they won’t be the same person. While some skilled bookkeepers and accountants may, in fact, be capable of doing … Read more

Can You Negotiate Lower Prices From Your Vendors?

Missed opportunities result from complacency. Occasionally questioning the prices you pay for products and services makes sense for businesses of all sizes. The trouble is that small businesses are more likely to lack the skills … Read more