How to Adopt the Right Mindset to Get out of Debt

The mental stress that can accompany dealing with a huge amount of debt to pay off can seem never ending.Whether it’s trying to keep up with medical bills,childcare expenses,or unexpected home repairs,dealing with the stress that it can cause is enough to wear anyone down. The following details a few ways you can change the Read More

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By |April 17th, 2019|Small Business Tips|

Make Sure That These 6 Bad Financial Habits Don’t Weigh Down Your Small Business

Good financial habits are vital to success in business. The way you make money and spend it can either take your business forward, or weight it down. Here are six poor financial habits that business owners often struggle with, and tips on how to break them.

Buying things that you haven’t budgeted for

Cash flow is of Read More

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By |March 15th, 2019|Small Business Tips|

Credit Where It’s Due: Which Debts Should You Pay First?

When you’re struggling under the weight of debt problems, it’s all too easy to lose perspective. But panicking about your situation isn’t going to help, no matter how understandable that may be.

To stand a chance of overcoming your problems, you need to take a calm approach and decide which of your debts are the most Read More

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By |January 15th, 2019|Small Business Tips|

11 Ways to Help Your Business Survive the Next Recession

During the first two years of the last major downturn in the world economy, many businesses in the United States and Canada failed. Downturns or recessions are not one-time events. With the stock market hitting record highs, and a booming economy, it doesn’t take an expert to see where we are in the economic cycle.  Read More

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

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 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|