Five Reasons to Hire a Tax Professional


Although there are still a few hardy souls that fill in their tax forms by hand and mail them in, the vast majority of self-preparers use one of the software or online based tax programs to calculate and e-file their income taxes each year. This is much easier than the old way of doing taxes, Read More

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By |May 26th, 2015|Small Business Tips, SmallBiz Builder, Tax Tips|

Small Business Success:  Be a Bookkeeping Rock Star

As a small business owner, you may find certain aspects of your job glamorous.  A speaking engagement, recognition by an industry heavyweight, a television appearance, etc.  It’s a pretty safe bet that “bookkeeping” will never make that list.  While it’s not sexy, a commitment to bookkeeping and a reputable bookkeeping service is an essential component Read More

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By |February 17th, 2015|Small Business Tips, SmallBiz Builder|

2015 Automobile Deduction Limits for Business

The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000(plus applicable federal and provincial sales taxes) for purchases after 2002. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business purposes.

The limit on deductible leasing costs remains at $800 per month(plus Read More

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By |February 6th, 2015|Small Business Tips, SmallBiz Builder, Tax Tips|

5 Ways to Improve Your Small Business’s Cash Flow

A Calgary business owner cannot survive without adequate cash flow, even if it makes a profit at the end of the year. Almost 50 percent of small businesses are affected by occasional cash flow problems, while a further 20 percent have a continuing problem with cash flow, according to a report released by American Express Read More

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By |December 19th, 2014|SmallBiz Builder|

Working From Home – A Smart Move For Calgary Entrepreneurs?

Should you launch your new business from your coffee table, or is your startup money better spent by renting office space somewhere in Calgary?

Working from home can be detrimental or beneficial to your budding business. It all depends on the type of business you plan on running, not to mention your lifestyle goals. Here are Read More

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By |December 4th, 2014|SmallBiz Builder|

Tax Rules Around Christmas Bonuses

Are you considering doing something special for your employees over Christmas?  If so, pay attention to what you actually do as it could end up costing your employee money.  Some typical Christmas gifts or bonuses need to be declared as taxable income by the employee.

First, here is a typical rule of thumb on what’s taxable Read More

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By |November 10th, 2014|SmallBiz Builder|

Filing Your Annual Returns

Every corporation incorporated under the Alberta Business Corporations Act, Small businesses to large corporations, are required to file an Annual Return to maintain their status as a legal entity.

NOTE: This is not to be confused with the Corporate Tax Return.

Annual Returns

Corporations must submit an Annual Return each year
The Annual Return contains information about Read More

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By |October 14th, 2014|SmallBiz Builder|

How to Improve a Flagging Small Business

According to an Industry Canada study, the main reason small businesses fail is inexperienced management. About half of all businesses fail within their first five years. Fortunately, many of these failures are preventable. Here are some things that Calgary small business owners can do to turn a business around and save it from closure.

Finding the Problem

Find out Read More

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By |September 26th, 2014|Small Business Tips, SmallBiz Builder|

Benefits and Risks of Using Credit Cards to Fund Your Small Business

Finding financing for your small business can be a horrific challenge. Without significant cash flow or assets, banks and investors are usually not interested in giving you money. Credit cards can provide a quick and easy way to purchase the things you need to grow your business in Calgary.
There are several advantages to using credit Read More

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By |September 10th, 2014|SmallBiz Builder|

4 Ways To Reduce Your Small Business Expenses

One of the best ways to improve your small business’s profitability is to decrease expenses. It is important that you keep your expenses at a minimum to maximize efficiency. Thankfully, this is an aspect of your business where you have control. Here are four simple ways to cut back on your business expenditure.
Office supplies
Businesses spend Read More

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By |August 12th, 2014|SmallBiz Builder|