Last week on the blog, I shared part one of my list of the top ten challenges.
Let’s continue with the rest of the list!
Once again, these are my opinions and certainly not the only challenges new business owners face, and the list is in no particular order.
Three big ways this can manifest:
You’ve taken on too much because there’s no one else, or you don’t trust anyone else to do it right.
You’re still working for...
All businesses grow from an idea. Like a seed, they need nurturing, the right conditions, and persistence to blossom.
A lot can happen in the early stages that make us lose sight of the passion that drove us to act on the idea in the first place.
It takes courage to stay the course, and the process can become overwhelming, even exhausting.
Here are my top ten challenges of starting out in business. (Note: this is a 2-part blog with the top five coming next week!)
I’m sure you can...
Disclaimer: Different strokes for different folks, as they say.
The opinions expressed herein are just my own. These are based on my experience running a bookkeeping firm with hundreds of clients over the course of ten years. No two accounting professionals are alike; we all work with different methods and systems, and it is not my intention to discredit or throw shade on anyone else or any technology they prefer to use.
This is merely a starting point for entrepreneurs to gain...
The vehicle can be one of your best write offs in your business. It can also be your worst.
What makes it one way or the other? Well, first it is the option which you choose to write it off. The age of the vehicle makes a difference. Where you travel make a difference.
Everyone's situation is unique.
Reading isn't for everyone. If you want to watch the video "on demand" webinar, click here.
Do you have a business dream you’ve decided to make a reality?
One of my favorite things about teaching business to my University students, is hearing about their ideas.
It's why my business – my passion – is about helping Canadian entrepreneurs succeed, from building the foundation to growing success years into their business.
As a Certified Professional Bookkeeper, I built a successful bookkeeping firm, so I know exactly what it’s like to...
Simply defined, a Trust Exam is when the Canada Revenue Agency sends someone out to look at how you’ve handled your Trust Money – that is, payroll and GST remittances that you’re holding in trust for those government taxes you owe.
Trust Exams are usually triggered for payroll issues, though they can be the result of GST issues as well.
They may be scary, but the you know there are penalties and interest coming.
If a Trust Examiner is sent out, it’s...
Disclaimer: The purpose of this blog is to provided a general sense of information. Everyone’s situations are unique; there is no one size fits all when it comes to employees, subcontractors, the work they do, labor laws and Canada Revenue Agency obligations. The information provided here is meant to be an introduction to the subject.For more detailed information, please visit CRA publication RC4110 and your local Employment Standards Office. You can also check out my webinar this...
I say that because everything on this list I learned the hard way during my first year in business.
Not every lesson came hard, mind you; I ran my own bookkeeping business after all, so I came equipped with a lot of the tax know-how.
Nonetheless, when you’re running a business, you’re hard at work everyday.
Often times, we only learn when we encounter a situation that makes us realize we don’t know the thing we need to know.
This list is...
As a direct seller, it can be confusing about what is actually an expense.
Your home, your car....even your receipt at the craft store yesterday. They are all mixed together with personal purchases and business purchases.
Sometimes...it's just confusing.
We all know that any money we make has to be declared to the Canada Revenue Agency at the end of the year.
But did you know that your confusion on expenses today will cost you on taxes tomorrow?
There are some really...
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