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Perhaps you started out in a business venture with another individual and you just assume they are your business partner. What you may need to determine is whether it is a general partnership or a limited partnership. The daily operation of your business probably doesn’t raise too many questions as to whether you consider yourself…
As a small time Toronto business owner, no doubt you would receive good tax news from our government with open arms. When we read statements like a new tax move could save small businesses more than $550 million over the next two years it really seems impressive. This is referring to the Small Business…
Some people love the fact that they can automate their administrative duties a great deal, while others are from the old school and like to see this type of data in a hard copy on paper. The general trend is to become paperless as much as possible, and even the CRA is promoting this by…
When you are operating a small business there never seems to be enough time in the day or enough hands to get everything done. The three main areas of your Company that is non stop in its demands are your operational duties, administrative duties, and your financials. By keeping these separated in regards to…
When a business owner is looking to hire staff to help run their business they usually have a set criteria that the potential employees must meet. They want staff that is going to be loyal, enthusiastic about the Company, and willing to learn all the ins and outs of the business as it relates to…
Many businesses big or small tend to extend credit to their customers. They may allow anywhere between 30 to 90 days to pay their invoices. At times this doesn’t work well because the odd customer ends up not paying. So what type of tax situation does that create for the business owner? The CRA has…
There are a lot of different reasons that people go into business for themselves. Some are aspiring to start a small business with the hopes that it will grow big enough to meet their financial needs and provide them with the type of lifestyle they are looking for. Others have no real intention…
Many business owners especially those that are new often feel like they also have to be a bookkeeper as well as accountant besides knowing about their business in order for it to be successful. In some ways this is true but fortunately there are experts in these fields who can take control of this…
