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
Employee Time Theft: Some Challenges
A January 11, 2023, BC Civil Resolution Tribunal case addressed a claim for wrongful dismissal. The employer filed a counterclaim in respect of a 50-hour discrepancy between the employee’s timesheets and tracking software data over a period of about a month during which the employee was working remotely. The employee argued that significant hours wereYour Read More Link Text
Small Business Succession: Many Business Transfers Coming Shortly
The Canadian Federation of Independent Businesses (CFIB) released a report on January 10, 2023, focused on succession expectations for small businesses. It included the following survey responses: There are many hurdles and opportunities in selling a business. Many can be addressed in advance, leading to significant improvements in the sale process and an increase inYour Read More Link Text
Employment Expenses for Commissioned Employee: Sponsorship
In a January 23, 2023 French Court of Quebec case, a commissioned salesperson deducted nearly $600,000 over 2015 and 2016, in sponsorship expenses of a professional cycling team in Canada. The individual was an investment advisor and reported commission income of $1,493,910 and $1,263,360 and taxable capital gains of $2,276,374 and $99,767 in the respectiveYour 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
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
