Salaries Paid to Family Members

When deciding as to whether a salary should be paid to a family member, or more specifically to one’s spouse, numerous questions arise. On one side, there is the question of the risk involved that the salary may be unreasonable and having the expense being disallowed. On the other side, there is the benefit of Read More

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By |May 6th, 2013|SmallBiz Builder|

Canadian Retail Inventory – The Cost of Goods Sold Challenge

This is the story of Backstop Bob. Backstop Bob owns and operates Backstop Bob’s Baseball Emporium. Backstop Bob sells baseball bats. He thinks that he has been very successful.

Every month, Bob reviews his financial statements with his accountant. Each month, he is told that he is making money. At the end of the year, he Read More

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By |March 11th, 2012|SmallBiz Builder|