Capital Gains Exemption Deduction

The lifetime capital gains exemption deduction, if you dispose of shares
in a qualified small business corporation, is $848,252, or $1,000,000 for
a qualified farm property or qualified fishing property. If you have
already claimed the $100,000 personal capital gain exemption (ended in
1994) then this reduces the available lifetime capital gains exemption.
You must also verify whether you have Read More

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By |December 4th, 2018|Small Business Tips|

Tips to Help You Move On After Your Business Failed

Many people let a business failure ruin their life. However, if you choose to learn from your mistakes, you can move on and be even more successful.  It is not easy to move on after a business failure. Here are some tips to help.
Figure out what went wrong.
After you spend time examining your business, you can Read More

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

“Soft” Loans For Your Children

Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the loan will earn some investment income. The loan can be set up for blended payments of principal and interest Read More

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By |November 3rd, 2018|Small Business Tips|

CRA Verifying Motor Vehicle Purchases

There is a recent CRA audit project targeting corporations who made motor vehicle purchases. The CRA is requesting documentation such as purchase invoices, and the percentages of business and personal use of the vehicles. There are many different angles the CRA can be using this information. First, they are verifying that the vehicle has been Read More

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By |October 2nd, 2018|Small Business Tips|

How You Can Use a Financial Windfall to Jump-Start Money Management

If you’ve struggled for years to manage your finances, a windfall can put you on a new track. Without proper financial management planning, you’ll end up back in the same rut. Don’t spend your new money as quickly as you get it; now’s the time to get smart. Use these money management tips to find Read More

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

4 Financial Options for Starting a New Business

If you are considering starting a new business, there are a number of factors to figure in to the equation.  Besides choosing a location, applying for proper permits, and obtaining required licensing, prospective new business owners need to analyze both short-term and long-term goals to determine what financial options will be best for the business.  Read More

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

Four Tips to Reduce Supply Costs

One of the most significant expenses on invoices is the cost of supplies. It follows that any opportunity to save on supplies can have a dramatic effect on the final cost of a project. While labor and time charges can be altered by increased efficiency or at the contractor’s discretion, supply costs are not as Read More

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

Owner-Managed Business – Creditor Proofing

Every business owner should be concerned about creditor proofing his assets. Consider these suggestions:

1. Transfer assets out of the company 

Place capital assets in a separate holding corporation so that subsequent legal claims that arise in the operating company do not affect these assets.
Lease the assets in the holding corporation back to the operating Read More

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By |July 9th, 2018|Small Business Tips, SmallBiz Builder|

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

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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

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