Best Practices for Lowering Your Business Insurance Premiums

As a business owner, you wouldn’t survive long without the protection afforded by business insurance. It insulates you from a wide range of financial losses, such as a customer suing you, employee theft, and widespread damage to your business structure caused by severe weather. These situations are unpredictable and out of your control. However, that Read More

By |June 15th, 2018|Small Business Tips|

5 Strategies to Avoid Small Business Bankruptcy

Running a business can be tough. You will experience growing pains as you start and expand the business.  You will become impatient with the slow progress as the business progresses.  There will be days where developing your small business may be far from the dream you expected it to be.

The unpredictability of business also means Read More

By |May 15th, 2018|Small Business Tips|

Big-Time Money Mistakes Small Business Owners Should Avoid

Unless your last name is Bezos, Buffett, or Gates, you likely won’t have the answers about how to run a successful business, and you’ll have to figure things out the hard way. Fortunately, those who have already been down that road can offer some pieces of advice aimed at steering you clear of some all-too-common Read More

By |April 15th, 2018|Small Business Tips|

How to Take Charge of Your Personal Finances

Management of your personal finances can be challenging.  However, it is a necessary skill for those whose goal is to live debt-free and acquire wealth. There are specific and necessary steps to follow if financial independence is your goal.
Get Organized
If you are disorganized in your everyday life, you are apt to have difficulty following a Read More

By |March 15th, 2018|Small Business Tips|

Steps for Managing Financial Hardships and Difficulties

One of the most disruptive things to happen in your life is a financial hardship. These can come in many different forms, like losing your job, poor investments, natural catastrophes and illness. It is important, if you should find yourself in any of these situations, to remain invested in identifying your next steps and making Read More

By |February 15th, 2018|Small Business Tips|

Marriage Breakdown – Tax Questions

Dear Uncle Bean:

My husband and I have decided to end our marriage.  We have been married for 7 years and have two small children.  How will this affect my taxes?

Distressed and Disturbed
Dear Distressed and Disturbed:
I am so, so sorry to hear about your situation.  Sometimes soul mates turn into soul duds.  Unfortunately, ending a marriage Read More

By |February 13th, 2018|Uncle Bean Tax Corner|

Common Law and Tax Implications Question

Dear Uncle Bean,

My boyfriend and I moved in together about a year ago.  He is telling me that we have to select common law on our personal tax return for this year.  I don’t want to do this because it is almost like saying that we are married.  I’m not sure that I am ready Read More

By |February 13th, 2018|Uncle Bean Tax Corner|

Feds Clarify Income Sprinkling Proposal

We’d like to share the following article from Advisor.ca, clarifying the rules for income sprinkling:

“The federal government provided revised income sprinkling measures Wednesday, offering clarity about how its controversial changes to the Income Tax Act will be implemented.

The feds “have significantly narrowed the scope, and they’ve provided clarity,” says Dave Walsh, partner and tax service Read More

By |February 2nd, 2018|The Library|

5 Federal Tax Tips for Retail Businesses

With the recent oil price downturn in Calgary and the increase in labor costs, many businesses are looking for ways to save on their taxes and keep their doors open. Here are five ways that retail business owners can potentially save on income taxes and increase their profitability.
Family Member Worker Expenses
Wages that business owners pay Read More

By |January 15th, 2018|Small Business Tips, Tax Tips|

Tax Tips for Real Estate Professionals

As a real estate agent, taxes can be one of the biggest challenges you face. Unfortunately, it’s extremely easy to miss out on deductions and thereby add unnecessary overhead to your annual revenues.
3 Tips for Handling Real Estate Agent Taxes
Fortunately, there are three very simple easy tips you can implement right away to save on Read More

By |December 15th, 2017|Small Business Tips, Tax Tips|