COVID Contemplations As Canada has been shut down for roughly two months now, and we try to stay up to date on all the new government updates, I can’t stop thinking of the impact that this virus has had on business owners. COVID-19 has touched every industry in some form or another. A few industries … Continue reading The Business Owner’s COVID Contemplations and Lessons
We’ve been following the COVID-19 pandemic news closely in how it is affecting Canadians. We tried to sum up some up most of the information in this post that is useful for business owners and tax payers but please know that it could change day-by-day. Canadian Government Economic Response Plan On March 18, 2020 the … Continue reading Business Owners and Taxpayers Response for COVID-19
With a new year on us, we figured it’d be a good idea to list out the most common tax deadlines that Canadian tax payers need to remember this year. In this post we will look at every 2020 tax due date Canadians need to know, including: 2020 Personal Tax Deadlines2020 Corporate Tax Deadlines2020 GST/HST … Continue reading 2020 Tax Due Dates for Canadians
Every business needs up-to-date financials and a system that keeps track of all of your business’s transactions from invoices and receipts to tax forms and payroll records. The below is what every entrepreneur should know about bookkeeping. Why Does My Business Need Bookkeeping? No business owner enjoys doing bookkeeping. But it needs to be done … Continue reading Bookkeeping Basics
Before we answer that questions, we need to undertand what a holding company is. What is a Holding Company? A holding company is a separate legal entity that’s primary purpose is to hold investments. This is much different than an operating company, which is used to run an active business like a retail store or … Continue reading Do I Need a Holding Company?
There is not a week that goes by where we often have to help business owners understand if it makes more sense for them to pay themselves a salary or a dividend through their corporation. If you have a corporation, you have the ability to pay yourself one or the other or a combination of … Continue reading Salary vs Dividends