The National Hockey League (NHL) lock-out this past year lasted 119 days. It resulted in the cancellation of 510 regular season games, including the All-Star Game and the outdoor Winter Classic. NHL commissioner Gary Bettman estimated that as a business the NHL was losing between $18 and $20 million a day. He also estimated that…
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We all spend time as kids imagining how our lives might be when we grow up. And then we grow up and we find ourselves imagining what might happen if… In business, those daydreams can often turn into guessing games, red herrings and assumptive goose chases. But with some imagination and calculation, business owners can…
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One of our major areas of expertise is the construction industry. Many of our clients operate successfully in this industry, and we help provide tools for them to succeed. Construction companies have some unique challenges and opportunities – from a tax perspective as well as from a general business perspective. In this industry, it is…
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I will preface this blog post by saying that I LOVE our town. I was born and raised in a small town in Northern Ontario and found my way to the West Kootenay in the Summer of 2009. I feel like I was meant to be here and could never imagine leaving. One of the…
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How Much Is My Business Worth? As a small business owner, you probably wonder from time-to-time how much the business you’ve built is worth. There is no easy or straight-forward answer to the question “How much is my business worth?” It may be worth more to you than it would be to someone else –…
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Who would believe that you could spend a productive weekend in Las Vegas working ON your business instead of IN your business? Five of us spent last weekend in Las Vegas attending the “A Day With the Disrupters” event sponsored by the VeraSage Institute. VeraSage challenges people to break free of traditional practice methods that marginalize…
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Is your corporation a personal services business? If you are the sole individual working in your corporation, you may be carrying on a personal services business (“PSB”). More and more small corporations are being labeled as personal services businesses by Canada Revenue Agency (“CRA”). The results of this can be disastrous. Personal service business What…
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Being close to the border, we get lots of calls from Americans who plan to do business in Canada. Here are some of the basic issues you need to understand. Canada – US Tax Treaty A tax treaty exists between our two countries to address tax issues. The treaty defines, among other things, the jurisdiction…
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Why Do We Offer Free Initial Consultations? Many professional firms offer “free initial consultation” to the public as an enticement to get you in the door. It’s part of their promotional strategy to attract new customers. We offer free initial consultations for a few other reasons. First, we want to get to know you. We…
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Cash flow is the movement of money into and out of a business or project. Cash flow is imperative to the success of any business. However, many small businesses owners don’t fully understand how important it is to estimate, track, and analyze cash flows. If cash flow is not managed correctly, a company may run…
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