7 Tips for Business Productivity

By |2022-01-20T22:02:59+00:00January 13th, 2022|Uncategorized|

With all you have to do in a day, have you ever wondered how you can improve your business productivity?  All entrepreneurs are busy. If you're a small business owner, especially if you're working on your own, you have a lot to do. Between managing emails, helping customers, and making sure everything is running smoothly it’s no wonder you end most days wishing you had more time.   The key to being productive in business isn't just about having more time. By managing your time more effectively, you will accomplish more. Here are seven tips to help you manage your time and [...]

How to fill out TD1 forms (Federal and Provincial)

By |2021-12-21T17:21:27+00:00December 21st, 2021|Uncategorized|

Have you been asked to fill out a federal or provincial TD1 form? This video shows you how to complete it. In this example, we use the BC form. Also, remember to provide your employer with the email address that you would like to receive notification of e-pay stubs to (if they offer that) and also a void cheque. If your circumstances change you should also let your employer know and update your TD1 form with them. Side explanation on void cheques and direct deposit forms: If you don't have any cheques around, then you can also ask at your bank [...]

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Is the Profit First Way Right for You?

By |2021-11-25T03:13:27+00:00November 25th, 2021|Uncategorized|

Profit First isn’t just a book by Mike Michalowicz, it’s a whole business lifestyle that even includes a certification. The book was first published in 2014. Since then there have been iterations created for specific industries like dentists, micro gyms, contractors, and e-commerce sellers. Michalowicz has reframed the equation sales, minus expenses, equals profits so that it reads: Sales, minus profits, equals expenses. This is the gist of Profit First. Profit before expenses. It’s an alternative way of looking at a budget. You take the profit out of your sales then force yourself to budget your expenses based on what’s left. [...]

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How to File Your GST Return

By |2021-10-22T22:50:50+00:00October 22nd, 2021|Uncategorized|

The Goods and Services Tax (GST) Return is the form used to report the net GST your business owes the Canada Revenue Agency (CRA). It’s much easier to file your GST return if your bookkeeping is up to date. This makes filling out the GST return a matter of looking up the numbers in your accounting app. All the lines on the GST return are also boxes where you enter your numbers. Even if you will be filing your return electronically, it’s a good idea to use a form to calculate the GST you owe (or is owed to you) first. [...]

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How to Get Financial Help for Your Business

By |2021-10-24T09:53:00+00:00March 9th, 2021|Uncategorized|

Starting and running a business can be challenging financially if you don’t have the savings you need or don't know where to look for financial help. Thankfully, there are a number of initiatives specifically for Canadian businesses to help you get off the ground or keep your business going during difficult times. 4 Places You Can Get Financial Help for Your Business It can be hard to know where to look for financing for your business thanks to numerous online scams. Here are four legitimate sites you can check to see if your business qualifies for any of their funding or [...]

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Why have I been asked to fill out a W-8 BEN-E form?

By |2021-10-24T09:53:15+00:00November 29th, 2019|Uncategorized|

If you are Canadian Company providing services to US Companies that has been asked to fill out a W-8 BEN-E form you may be wondering why. You may also be wondering how to complete it. This article walks an active business and Canadian corporation in Canada offering consulting services to a US company on completing this form. This is only relevant to non-financial entities such as a management consultant. What is it? The W-8 BEN-E form is provided by the IRS (the US Federal Tax Agency similar to the Canada Revenue Agency). It is used by foreign entities to document their [...]

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Getting your Personal Finances in order with Xero

By |2021-10-24T09:53:15+00:00November 12th, 2019|Uncategorized|

Have you ever thought of using Xero to manage your personal finances? Well you are not alone. I have a few clients who have loved Xero so much that they have decided to us it to manage their personal finances as a personal finance app. If you have decided to do this, I have a few recommendations on how to optimize what you are getting from it. Talk to your accountant about a reduced price plan. Xero partners have access to accounts not available to the public which have reduced functionality but may fit your needs. The basic Xero account is [...]

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Going Paperless through Cloud Accounting 

By |2021-10-24T09:53:15+00:00November 5th, 2019|Uncategorized|

Go paperless in your small business. Set it up the right way using cloud accounting software you will come to love.   Step 1) Get off the desktop solution and sign up to a cloud accounting software like Xero and Quickbooks Key advantages: Access invoicing on the go and connect your bank accounts for an automated download of your transactions. You can also easily add a pay button to your invoices. This will get you paid faster and save you time while also getting better clarity on your business. Step 2) Stop using cheque’s - Look for other payment methods like credit [...]

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The new CIBC Smart Banking Platform and the new Xero bank feed connection (as well as other benefits)

By |2021-10-24T09:53:15+00:00October 28th, 2019|Uncategorized, Xero|

We in the Xero community have been waiting years for a direct bank feed. Many other countries around the world already had this and we were jealous. For the average business owner and user of Xero, there are a few key things they may like to be aware of. These include: multi-user options; domestic EFTs; and Xero direct bank feed. There are many other services offered in the platform but we have focused on these as the most beneficial. Multi-User Well the new platform offers some benefits (other than the bank feed), including multi-users which allows for permissions and better process. The [...]

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A Letter to My Kids – 3 Things I Hope to Teach My Kids About Debt and Finances

By |2021-10-24T09:53:15+00:00May 27th, 2019|Uncategorized|

A letter to my children on what I see wrong in the world with finances and debt and how I hope to teach them to do better. Dear Kids, I realize now I was lucky. Grandma and Grandpa taught me a lot about finances without really realizing it. They taught me how to save and how to never spend more than you can afford. Grandpa hated any kind of debt (still does!). That rubbed off on me in a big way. Now I see and chat with a variety of people who weren’t as lucky and are learning finances the hard [...]

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