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

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

Should I Buy or Should I Lease My Next Vehicle?

As a business owner, I have debated this question many times over the years. I have both leased and purchased, and I like to get a new vehicle every 3 or 4 years… whether I … Read more

Don’t Mix Business with Personal

Here are 3 reasons why keeping your personal and business finances separate will also help keep you and your business healthy. Finding, tracking, posting, filing, and reconciling your bank, credit card, and PayPal accounts – … Read more

Meals vs. Food as Business Expenses

When you’re just getting started in business, you may not know how the CRA feels about meal expenses. Here’s an excerpt from the CRA’s website under business expenses: The maximum amount you can claim for … Read more

5 Resolutions for Your Bookkeeping New Year

We all make promises to ourselves that in the New Year we will do things better. Here are 5 worthwhile activities that will make your accounting processes easier for yourself and your bookkeeper. These are … Read more