Your Own CRA Agent, Is It worth It?
Whether you’re starting a new business or have been in business for a while, you know how much of your time and mind space day-to-day operations occupy. You are constantly pulled in different directions, and you’re usually called away from what you’re most passionate about – your actual business. But sometimes, getting sidetracked can be […]
The Benefits of Working with the Small Business Strategy Consulting Firm
Navigating the world of small business is time-consuming, stressful, and sometimes overwhelming. More than anything, though, it’s rewarding or you wouldn’t put your heart and soul into it. We’ve yet to meet the business owner excited to do their tax returns and accounting. When you work with the best of the small business strategy consulting firms, Leonard […]
Leadership: What Not to Do to Keep the Best Employees
Good leadership recognizes a good work culture, but even the best can miss signs that might induce excellent employee to leave. As awareness is the key, there are signs to watch for. What might a good leader be overlooking? 1. Failure to Connect Purpose Workers need to feel relevance. If the day-to-day contributions of workers […]
Let Age Be an Asset to Your New Business Venture
Let maturity be a prime asset to your starting a new business. While some young entrepreneurs like Mark Zuckerberg are enormously successful, older entrepreneurs, statistically, have a higher rate of success. We don’t hear about the young failures. There are reasons why older entrepreneurs starting up may be more successful than the young. 1. Life […]
Common Errors to Be Avoided by Small Businesses When Filing Taxes
Filing and paying taxes for small businesses is a legal responsibility and not a pleasure. Business owners should be aware of preparing for the deadline all year in order to take the stress out of tax season. Filing and Paying on Time Non-filing and late payment incur penalties which can add up significantly if let […]
Personal Tax Returns Vs. Business Tax Returns
When it comes time to file your annual tax return with the CRA, you’ll notice there are lots of similarities between personal tax returns and business tax returns. However, comparing the two by the same scale will give you a good idea of how different the two really are. We’re going to do just that […]
Be a Success in Your Own Contracting Business
Independence So many people are lured by the promise of independence and its advantages in owning an independent business. Of course, such a step might require leaving rewarding employment in a strong company by assuming the risks of self-employment and launching out as a private entrepreneur. Given that you have the skills to make such […]
Independent Business Owner Income: Salary or Dividends?
You Have the Choice of One or the Other, or a Mixed Income. From the basis of a registered business corporation, you must decide how to pay yourself: a business salary, payment in dividends, or a mix of both. It is important to know the advantages and disadvantages of the three systems. The Owner Takes […]
So, You Want to Go Into Business With Friends and Family: Consider These Points
You are confident of your relationship with your brother-in-law, high school buddy or the maid-of-honor in your wedding party. Looking for a new business venture, of course you want people that you not only can trust but are personally compatible with. The joint-venture can lead to bright, new future. However, without careful planning, there can […]
4 Essential Tips on Understanding Business Sales Tax Obligations
No matter where you run a business in Canada, if you sell a product you have the obligation to collect sales tax. Ignoring that crucial step in doing business can lead to serious legal complications with your sales tax returns filing. This could potentially cost you heavily or even sink your business. Take a look […]