Five Common Mistakes Small Businesses Make That Can Put Your Small Business At Risk
1. Not Staying On Top Of Incoming Money An invoice is sent to your customer and recorded in your books; meaning your customer owes you money. When you receive a cheque apply it to the invoice so its marked paid. At tax time, the receivables have money in your sales account that don’t make sense…results […]
Incorporation vs Sole Proprietorship
I’ve been asked many times how should I structure my business… While there is no single right or wrong answer its your business and you should be aware of the issues. You can incorporate on your own but it is better to have your lawyer or your accounting professional go over for whats best in […]
Tax Information You Need To Know If You Are Getting Married Or Entering Into A Common Law Partnership
Once you get married change your status as soon as possible, because benefits such as the Child tax, and the GST/HST credit will be affected. The government will recalculate your benefits based on family information and net income. Benefits will be adjusted the following month you status changes. If you do not report this change […]
You Have a Vision. What Is Your Goal?
You have a vision… What is your goal… As a small business owner you are pulled into many directions. You need to set goals and stick to them. Set the Goal, Make the plan, Work on the plan, review and stick to it… You will reach your goals.
Vision and Success
In the mind we create Success, as the business owner you must completely believe that you will be successful. Your vision of your business must be clear, bold, come alive and be 3D at all times. Your mantra MUST be you will succeed, but not only you but also your employees… Communicate your vision to […]