Congratulations on even having to answer this question. If you are in this position, you have done a number of things correctly. First, you have been able to successfully start a business and develop it to the point where a second or expanded location is a question that you must address. You will find that … Read moreWhen Should You Expand?
Congratulations! You’ve taken, or are about to take, one of the steps that will change your life. Most people who work for themselves will tell you their worst day being self employed is better than their best day as an employee. The difference is based upon the idea that the accomplishments are yours, and yours … Read moreStarting a Small Business
It is very difficult to run even the most profitable business without some bank financing. When a company grows or when it’s growth is uneven, chances are that it will out-pace the cash flows that it generates. In many cases the business cycle is uneven with a disproportionate amount of business part of the year. … Read moreRaising Money with Your Banker
It would seem that after centuries of double-entry bookkeeping, nothing more could be said about accounting. Up until now that was probably true, but now accounting has to move to the next step. Instead of just speaking about the past in the format of numbers, we must begin adapting numbers to actions in the future. … Read morePreventative Accounting
Throughout your business career, you are continually asked to predict the future. Your banker wants to know how you will repay loans. You hire new employees with the expectation that the volume of future work will support them. You purchase a new delivery truck because you expect the future to require it. We often predict … Read morePreparing a Cash Flow Projection
The quick and easy answer to how to select a good accountant is to say, “Select me!” That, however, is not the purpose of this article, so we will provide you with some additional criteria for the selection of an accountant for your business. Before we discuss the attributes of a good accountant and accounting … Read moreHow to Select a Good Accountant
“Revenge of the math club” is how many independent business owners view the need for accounting. Unfortunately, this may result in the owner totally ignoring the entire process and using other tools to run his business. We say unfortunately, because accounting, and the products of accounting, can assist you in the operation of your business. … Read moreAccounting – An Introduction
A home renovation or repair project can be an exciting prospect. It can also be a nightmare if handled poorly. For many of us, the only route to go is to hire a contractor. This person will take care of the details from concept to completion. A good contractor will provide a quality product that … Read moreGet it in Writing!
Canada Revenue Agency (CRA) imposes various penalties and interest to encourage people and businesses including corporations to file tax returns and pay taxes on time. For people, the failure to file and/or pay invariably involves personal tax returns and taxes owing. Businesses need to deal with additional taxes such as payroll source deductions, GST or … Read moreAvoid Tax Penalties and Interest