small business accounting

Supply Chain Management – Placing the Focus Where it Belongs

The concept of supply chain management has taken off in recent years, as the manufacturing process becomes more complex and companies face unique legal and liability challenges. Supply chain management classes are now standard college fare, not only for MBA candidates but for undergraduates as well.

Most young entry-level managers today are intimately familiar with supply […]

By |September 25th, 2015|Small Business Tips|0 Comments

5 Tips For Hiring The Best Employee

Hiring new employees is a daunting task if you’ve never done it before. Making the wrong choice can create terrible problems in your business, preventing growth and causing unnecessary stress. That’s why it is so important to approach recruitment carefully, taking time to choose your future employees. This article shares five tips to help you […]

By |July 28th, 2015|Small Business Tips|0 Comments

7 Simple Methods for Increasing Your Business Productivity

Productivity is something that should be on every small business owner’s Profit & Loss statement.  It can have one of the biggest impacts to your bottom line.  Trying to run a small business and be productive can lead to long hours in which little work gets done. It is not usually laziness that is the […]

By |June 8th, 2015|Small Business Tips|0 Comments

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, […]

By |May 26th, 2015|Small Business Tips, SmallBiz Builder, Tax Tips|0 Comments

2014 Tax System Indexation

On January 1, 2014, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 0.9{9de21fd12e8ca6488972186bbb5fe81becd95b7b490974f1f8badcf668439b39}. The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2014.
For 2014 the federal tax bracket thresholds are:

22{9de21fd12e8ca6488972186bbb5fe81becd95b7b490974f1f8badcf668439b39} for taxable income above […]

By |February 6th, 2014|Tax Tips|0 Comments

Remitting GST/HST on Taxable Benefits

Did you know that GST/HST must be remitted on a taxable benefit unless the benefit is tax exempt or zero-rated, for example the benefit on low-interest loans? An example of a tax benefit that is not exempt includes the automobile standby charge and operating expense benefit. GST/HST must be remitted on shareholder benefits if they […]

By |January 3rd, 2014|Tax Tips|0 Comments

$750,000 Capital Gains Ddeduction

You can make use of the lifetime $750,000 capital gains deduction if you dispose of shares  in a qualified small business corporation, a qualified farm property, or a 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 to $650,000. […]

By |December 9th, 2013|SmallBiz Builder, Tax Tips|0 Comments

Hiring Credit for Small Businesses – Extended to 2013

The 2013 federal budget extended the hiring credit for small business (HCSB), a credit intended to stimulate new employment and support small businesses. The HCSB provides small businesses relief from the employer’s share of employment insurance (EI) premiums paid in 2013. The credit does this by paying up to $1,000 based on increases in an […]

By |November 8th, 2013|SmallBiz Builder|0 Comments

Stop International Tax Evasion Program

The 2013 Federal Budget introduced the concept that Canada Revenue Agency (CRA) will pay financial rewards to individuals who provide information on major international tax evasion. CRA could pay up to 15{9de21fd12e8ca6488972186bbb5fe81becd95b7b490974f1f8badcf668439b39} of federal tax collected if the reassessments are in excess of $100,000. Penalties, interest and provincial taxes will be excluded.
Persons requesting rewards will […]

By |October 1st, 2013|Tax Tips|0 Comments

Should You Incorporate Your Business?

If you own a business, you may have wondered if you should incorporate. Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the major differences are in the corporate taxation structure and tax planning opportunities. When developing the […]

By |September 4th, 2013|SmallBiz Builder, Tax Tips|0 Comments