Our Financial Blog
5 Accounting Mistakes I often See
Not keeping your receipts They don’t have to be well organized but you need to have them. It can be as simple as stuffing them all in one place (an envelope, a drawer etc.) and you can also just take a picture. CRA is fine with a digital picture as long as the...
Steps for Setting Up a Business
After you have done your market research and decided on what services/products your business is going to specialize in it's time to do the formal part. Spending time setting your business up can save you a lot of trouble in the long run. What kind of structure do you...
How An Accountant Can Help You Grow Your Business
When ever you hear the word Accountant the first thing you think of is tax. However, Accountants can bring more to the table than just helping you deal with our friends at CRA. Since we spend our days dealing with different businesses who are having different problems...
Easy Ways to Increase Profitability
An easy way to increase your profits is to figure out exactly where they are coming from. Almost every business deals with at least several services or products (if you’re in retail this is likely into the thousands of products). Commonly it is assumed that as...
Three Reasons to Report Your Business Income (Avoid Under-The-Table Earnings)
So let’s be honest, we’re taxed to death in Nova Scotia. And the more you make, the more you pay. Anyone who is sane hates paying tax, but it’s every kind of very illegal to not pay it. As a business owner, you have the opportunity to sneak earnings from...
How to Ensure You Get a Good Return on Your Marketing
Marketing campaigns are investments. Like any smart investment, they need to be measured, monitored and compared to other investments to ensure you’re spending your money wisely. With a solid return on investment (ROI) calculation, you can focus on campaigns that...
Five Easy Ways To Get Customers To Pay Quickly
Everyone has likely heard the phrase “cash is king.” Cash is the blood in a business and it’s critical that it keeps flowing. Cash flowing out of your business is within your control, but where things get tough is cash coming into your business (you can’t always force...
HST Advice – Straight From the Taxman Himself
Recently I had the opportunity to have coffee with none other than The Evil Tax Man (who was actually really nice). This arose from a surprise phone call I received from CRA, wherein they apologized for dropping the ball in processing an HST filing from 2012. They...
Why Monthly Cash Flow Planning in January is Important
Now that the holidays are over, we all have New Year resolutions to make more money and get back into shape. This is the time to seriously look at your business and consider where it’s going financially. Unless your business is snow removal or snow tires, chances are...