Setting Up a Corporation in Canada


Setting Up a Corporation in Canada Incorporating a Canadian company creates an entity separate from the officers running the corporation. This limits officers’ liability to the amount of their investments in the corporation, and also provides a slew of tax breaks. Canada provides for federal and provincial corporations, and while setting up a corporation isn’t a no-brainer, it’s not rocket science either. Here are the eight steps you follow to establish a Canadian corporation.

Business Planning 101 – What You Need to Launch


Business Planning 101 - What You Need to Launch_Icon You need tons of dedication and drive to launch a business, and even more to successfully operate and grow it. A business plan is the essential tool to map out and execute your vision. Adopting a good business plan is the right way to translate your dream into reality.

Mastering the Upsell – How to Grow Revenues With Existing Customers


Mastering the Upsell - How to Grow Revenues With Existing Customers Upselling is the preferred method of growing revenues, but it only makes sense if it also benefits the customer by reducing operational costs, expanding capacity, supporting growth, or some other strategic purpose. Mindless upselling just to meet sales quotas could very well alienate customers. The task of the sales force is to show how spending more brings meaningful benefits congruent with the customer’s business strategy. That’s easier to do if you’ve built a trusting relationship with your client and have refrained from hard-sell tactics.

Basic Bookkeeping Principles for Your Small Business


Basic Bookkeeping Principles for Your Small Business Bookkeeping is the process of recording and tracking income and expenses in the books and records of your business. Many people fail to recognize that bookkeepers are not necessarily accountants, although all accountants know how to perform bookkeeping. As a small business owner, you may decide to do your own bookkeeping but rely on an accountant to prepare your tax return, handle tricky transactions or audit your books. Whether you do your own bookkeeping or rely on someone else, you should at least be familiar with the basic principles so that you understand why things work the way they do.

The Impact of Social Media On Your Business


The Impact of Social Media On Your Business A social media marketing campaign, whether simple or complex, must be evaluated for its effectiveness, lest you end up pouring money down the drain. The proper selection and measurement of metrics is essential to judging the impact of social media upon your business, so here are several ideas to consider.

Resolving Tax Disputes in Canada


Resolving Tax Disputes in Canada The Canada Revenue Agency is responsible for resolving tax disputes task in Canada, and it offers the following procedures to resolve them.

Federal Budget Brief 2016


Federal Budget Brief 2016 The first budget of the new federal government is essentially a “down payment” on a long-term fiscal plan that charts the course to strengthen the Canadian economy. Yet, it is a hefty and costly initial payment.

Funding Sources For Your New Business Venture

Understanding The Landscape


Funding Sources For Your New Business Venture It is exciting to start a new business venture. It is every entrepreneur’s dream to go out on their own and earn an income that can be used to finance their personal expenses and investments. But where does one begin? It can be challenging to navigate the financial capital landscape, especially if it is one’s first venture. Fortunately, we live in an entrepreneurial society where sources of funding are available around every corner. The following are some useful tips for how to structure the capital acquisition phase of your new business venture.

Simplifying Taxes For Small Businesses

What You Need to Know


Simplifying Taxes For Small Businesses - What You Need to Know Taxes are an intricate part of the small business landscape. As a small business owner, it is not necessary for you to become a bona fide tax expert but you should develop a sense of the basics. Tax preparation is a skill, just like any other, and unfortunately, it is one that is necessary and will never go away. “Why not just outsource?”, you might ask. This can certainly be part of the picture, but it is unwise to outsource everything. Having a basic working knowledge of filing your taxes is important so that you can make sense of the various tax options open to you. When it comes to outsourcing, working with credible professionals can be smart, but an overreliance on them can leave you feeling powerless. The following six tips will help you navigate the landscape of taxes for small businesses.


Tax Evasion & Avoidance

The Impact On Your Business


Even though it might be tempting to think of taxes as a fixed amount that must be paid each cycle, business owners actually have a fair amount of leeway in determining how much their business owes in taxes. Businesses engage in tax planning and can reduce taxes in two broad ways. These are known as tax avoidance and tax evasion. Tax avoidance is quite legal and is practiced by businesses interested in tax planning. Tax evasion on the other hand, is not legal, and is considered a crime.


Outsourcing Your Accounting

The top 8 reasons to look outside your business for accounting expertise


One of the most commonly-held beliefs among those who run a business is that the decision to outsource a function should be made when the activity is not central to generating profits or competitive success. For most businesses, their accounting operations fall squarely into this category and as such, are a perfect opportunity for outsourcing.


Selecting an Accountant – What you need to consider for the Right Fit

A Best Practices Report


Almost every small business owner starts out by doing their own accounting.As the business grows, the accounting duties become more time-consuming, the financial problems more complex, and the need for professional advice more imminent.Hiring an accountant – whether as an employee or through an accounting services firm – is a milestone for a business. It marks a significant stage in a company’s history.


The Next Stage of Corporate Growth

Tips for Scaling Your Business

Energy, enthusiasm and good management can drive a company’s growth through the startup phase. Taking the company to the next level, however, requires scaling, a strategic approach to building the people and processes that will expand the business presence and ensure greater productivity. In this paper, Miller Bernstein discusses best practices for scaling your business.


CPA Canada Federal Budget Commentary 2014

“The Road to Balance” on the 2014 Federal Budget

The Federal Government presented its 2014 Budget, “The Road to Balance: Creating Jobs and Opportunities,” on Tuesday, February 11. The Budget includes in its 419 pages approximately $280 billion in spending over the next several years.