Words of wisdom

How to Get Started in Your Canadian Business

entrepreneur tips Aug 15, 2019

 Do you have a business dream you’ve decided to make a reality?

That’s awesome!

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...

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How to Properly Write Off Your Vehicle In Your Business

 

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.

Read this blog or watch the webinar.

Reading isn't for everyone. If you want to watch the video "on demand" webinar, click here.

Let's start with those pesky kilometers.

...
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10 Challenges of Starting Out in Business (Part 2 of 2)

entrepreneur tax tips Feb 28, 2019

 

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.

 

5: No time to get anything done.


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...

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10 Challenges of Starting Out in Business (Part 1 of 2)

entrepreneur tax tips Feb 25, 2019

 

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...

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8 Things To Do in the First Year of Business

entrepreneur taxes tips Oct 15, 2018

 You’re welcome.

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...

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The Single Biggest Mistake Entrepreneurs Make (Part 1 of 2)

Every entrepreneur has their own reasons for going into business.

 Some for personal wealth, others to provide the best they can for their families.

 Some do it to pursue their passions or fulfill a dream, others to leave a legacy.

 Regardless of the whys of the entrepreneurial spirit, there are tried and true methods to attaining that success – as well as all-too-common missteps.

 Especially this one.

 I owned a professional accounting firm for just over 10...

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Essential Qualities of a Business Bookkeeper

 

In the course of our hectic lives, we rarely have time to register this one question as we interact with countless people performing a job or service for us: how qualified are they?

We assume the cook at the restaurant washed his hands properly, the taxi driver knows where he’s going, that our to-go order is perfect as we grab the bag.

We need to put some things at the back of our minds, even when those little concerns cross our minds, because if we thought about them nonstop,...

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Tax Software for Business: 5 Reasons to Reconsider


The Income Tax Act is A HUGE act.

 At its core, it stipulates that what you claim on your business taxes must be reasonable.

 Also, that you are responsible for being honest with your submissions, and that by claiming deductions, you not only understand why they are reasonable, but can prove them to be so through supporting documentation and receipts.

 Disclaimer: this article pertains to business tax returns. For personal tax, software programs tend to be okay- because there...

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