What Your Business Needs to Succeed in 2024
The start of the year is a good time to take stock and plan your next business moves. Whether you’re a new entrepreneur, or reaching the next stage of growth, these tips can help you make 2024 your best year yet. By implementing these tips, you’ll be well on your way to a more successfulYour Read More Link Text
How to find the Right CPA for Your Business
Businesses can benefit from outsourcing accounting and bookkeeping services, allowing them to use professional expertise while reserving valuable time for their core business operations. Business owners need to choose the right bookkeeping or accounting service provider when they want to outsource financial management. You can make an informed choice by considering industry experience, service range,Your Read More Link Text
Month-End Bookkeeping Tips for Small Businesses
As we approach the end of another month, it’s time to ensure your books are in tip-top shape. Here are some valuable month-end bookkeeping tips to keep everything in order. 1. Reconcile Bank Statements. Start by reconciling your bank statements. Ensure all transactions match between your records and your bank statement. This will help identifyYour Read More Link Text
Enjoy The Holidays With These Budgeting Tips for Small Business Owners
With the holiday season just around the corner, it’s the perfect time to prepare for joyful celebrations. The holidays can be an exciting time for many, but they can also bring on financial stress. That’s why we’ve put together some budgeting tips to help you make the most of the holidays while keeping your financesYour Read More Link Text
8 Ways to Manage Overwhelm as a Small Business Owner
The entrepreneurial journey can be a rollercoaster, and we want to help you stay on top of the ride. So, today, we’re sharing some valuable tips on how to combat entrepreneur burnout and keep your inspiration alive. Remember, it’s normal to experience burnout from time to time. The key is recognizing it and taking actionYour Read More Link Text
TFSA: Carrying on a Business Within It
Earnings in a TFSA are typically not taxable. However, earnings in a TFSA become taxable when they are earned from carrying on a securities trading business. In a February 6, 2023 Tax Court of Canada case, CRA had assessed the TFSA on the basis that it was carrying on a business and was therefore taxableYour Read More Link Text
Budget 2023: Top Five Items for Owner-Managers
Budget 2023 (A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future) was introduced in the House of Commons on March 28, 2023. The top five changes that may impact individuals and owner-managed businesses are as follows: Alternative minimum tax (AMT) – The AMT is an alternative method of calculating taxes that ensures that anYour Read More Link Text
Paying too much tax on your investments? Split your income!
The idea of splitting income between a couple to lower your family’s overall tax payment has been around for a long time. The question is, is a spousal loan right for you? The strategy is this – the higher income spouse lends cash to the lower income spouse at a prescribed rate set by CRA,Your Read More Link Text
5 Necessary Roles in Your Business Finance Team (And Where FCPC Fits In)
We all do it. We glorify productivity and being able to “manage it all ourselves”. Some say it’s woven into the fabric of Western culture. Others say it’s a generational shift. Either way, it’s a mentality the vast majority of us can relate to. But what if that mentality is actually preventing you from accomplishingYour Read More Link Text
Understanding FCPCs Role in Your Business
It is nerve-wracking to let someone else into your personal and business finances— even if that individual is a certified and highly-professional accountant. On one hand, you know you need their expert advice and support. But on the other, it sort of feels like an invasion of privacy. This is where a boutique accounting firm canYour Read More Link Text
