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What is Business Coaching?

If you're an entrepreneur there's a good chance you've heard about business coaching, you know a business coach, or someone you know has worked with a business coach. But do you know what this service is and how your business can benefit from it? There are all kinds of business coaches. A business coach can help you with anything from clarifying your vision for the business to running its day-to-day operations. The coach you hire and the services you need depend on you, your business, and your goals. Business Coaching Benefits The benefits of working with a business coach are as [...]

By | February 24th, 2021|Accounting, Business Coaching|0 Comments

Why Don’t You Love Your Business Anymore?

Remember when you first started your business? You were so excited about it that you were constantly telling people about it, and you jumped out of bed, eager to start your day. But somewhere along the way, that excitement turned into a sense of obligation. Right now, you don't love your business, you wish you could get a break from it.  This is totally normal, and happens more often than you think. Many entrepreneurs start their businesses with a lot of hope and positivity. Once they see all the things that go into running a successful business, they realize it’s much [...]

By | February 14th, 2021|Accounting, Business, Business Coaching|Comments Off on Why Don’t You Love Your Business Anymore?

Do You Need to Issue a T2200?

Have you heard the news about the special opportunity for employees working from home to claim home office expenses this year? As an employer, it’s important you know about these updates. You may need to help your employees by issuing a T2200, if necessary. A T2200, Declarations of Conditions of Employment, is a form that employers usually fill out so employees can claim certain out of pocket expenses. However, given the major move to work-from-home status due to the COVID-19 pandemic, the Canada Revenue Agency (CRA) is simplifying things for employers and employees for the 2020 taxation year.  T2200 Highlights for [...]

By | February 5th, 2021|Accounting, Taxes|Comments Off on Do You Need to Issue a T2200?

Working with an Accountant Can Do These 5 Things for Your Business

As a business owner, you’re probably aware that you should be working with an accountant. But did you know accountants can help you with more than just tax and financial statement preparation?  In addition to helping you with the usual tax and accounting work, working with an accountant can save you time and money, help you reach your goals and reduce stress, as well as point out strengths and weaknesses in your business. Here’s a more in-depth look at how working with an accountant is good for your business.  1. Save Money People are sometimes reluctant to hire an accountant because [...]

By | January 25th, 2021|Accounting, Business|Comments Off on Working with an Accountant Can Do These 5 Things for Your Business

Your Year End Business Checklist

As an entrepreneur with an incorporated business, you likely know you get to choose your year end date. This year end business checklist information is useful at any time of year, not just the end of a calendar year. It’s intended to help you organize your books and records to make sure your year end financial statement and corporate tax return preparation goes smoothly.  First of all, let’s back up a bit and discuss your year end date, in case you’re a new entrepreneur and haven’t gotten that far yet. What Date Should You Choose for a Year End? Not December. [...]

By | January 15th, 2021|Accounting, Business|Comments Off on Your Year End Business Checklist

New Year Resolutions for Your Business

The start of a new year is often when business owners take stock of what went well during the previous year and what they'd like to improve during the upcoming year. Many people make New Year's resolutions for personal habits such as eating better and saving more money, but it’s fun to make new year resolutions for your business too. 4 New Year Resolutions for Your Business Here are a few things we commonly hear our clients saying they'd like to do differently as part of their new year resolutions for business. Open those brown envelopes from the Canada Revenue Agency [...]

By | January 5th, 2021|Accounting, Business, Business Coaching|Comments Off on New Year Resolutions for Your Business

Organize Your Business for the New Year

Have you caught yourself saying, “Next year, I’ll be more organized”? I know I have!  According to Go Skills, the third most common new year’s resolution is: get organized. When you’re a business owner, it’s essential to organize your business so you don’t get behind in important tasks like invoicing customers and paying suppliers. One way to organize your business is to use systems. Systems are a set way of doing things. This can be a specific set of procedures, templates for documents you create over and over, or even tools like software and apps.  The main benefit of having systems [...]

By | December 30th, 2020|Accounting, Business|Comments Off on Organize Your Business for the New Year

Share Your Experience with Your Business in 2020

No one could have predicted what a crazy year 2020 turned out to be. A number of businesses rallied and pivoted to continue operating through these hectic times. Whether it was completely revamping your business or making the necessary changes to meet constantly changing health and safety regulations, we’d love to hear how you managed in business in 2020. To that end, we’ve created a form to make sharing your experience with us easy, and we would love your contribution. Based on what you have to say, we’ll be putting together future blog posts highlighting key things clients did in their [...]

By | December 16th, 2020|Business|Comments Off on Share Your Experience with Your Business in 2020

Employee vs Contractor: What’s the Difference

The question of whether someone who works for you is an employee or a contractor is an important one. It’s the difference between someone being your employee or being self-employed. If handled incorrectly, there can be penalties for you as a business owner, as well as the worker.  The Canada Revenue Agency (CRA) provides a very detailed guide on the question: employee vs contractor. We break down the key things you need to consider below. Employee vs Contractor You might be wondering what difference it makes. Employee vs contractor, so what? The main concern is a person’s eligibility for employee benefits [...]

By | December 11th, 2020|Business, Taxes|Comments Off on Employee vs Contractor: What’s the Difference

How to Hire an Accountant

So, you’ve started a business, and now you’re stuck. You’re facing one of the most common questions business owners ask when starting out. How do you hire an accountant? Sure, you can ask your friends, but what if their business is in a different industry than yours? What if they don’t have a business and use their accountant only for personal taxes? You want to make sure you find an accountant who will understand you and your business goals. By following these tips, you’ll have no trouble finding the accountant who’s right for you. Hire an Accountant: Your Ultimate Guide There [...]

By | November 30th, 2020|Accounting, Business|Comments Off on How to Hire an Accountant