When it comes time to send us your year-end files, it can sometimes feel like an overwhelming task to ensure that you have included everything needed. In an effort to simplify this process, we have compiled a list of things to remember. Make sure the bookkeeping is complete up to the year-end date This is…

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A friend of mine who just started a new job recently said something to me that got me thinking… He said, “It’s strange to walk into a workplace where everyone is so happy to be there.” This kind of took me by surprise – I really enjoy my job and the team I work with.…

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Can’t I Just Call Them “Casual Labour”? Businesses in Canada are subject to a statutory requirement to withhold income tax, Canada Pension Plan (CPP) and Employment Insurance (EI) premiums from their employees.  This places an administrative burden on employers that many will seek to avoid whenever possible.  This blog discusses the nature of casual employment…

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If you have a balance owing on your personal tax return, there is an easy way to pay – Online!   In order to make a payment, please locate your bank below and follow the steps. You may need to first sign up for online banking – contact your bank for help with this. If your…

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If you sell services (or anything, for that matter) and extend credit to your customers, collecting your receivables is something you likely need to do.  Making collections calls can be super awkward; we don’t generally like having to ask for money that is rightfully ours to begin with. It is uncomfortable for the asker and the askee… Here are…

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A presentation by the United States Surety Information Office (www.suretyinfo.org) indicates that the rate of failure of contracting businesses was 20-30% between 2002 and 2012. Given such a high failure rate, it is worth examining the root causes of failure in order to understand how to minimize the chance of failure. It turns out that…

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Are you a business owner that is ready to incorporate? If you aren’t sure, take a gander at our blog entitled “Should I Incorporate My Business?” (Should I Incorporate my Business?).  If you know you’re ready, there’s something you need to consider which you might not have thought about – the transfer of your business from…

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The Issue Payroll is a significant expense for most of our clients and, not surprisingly, they are often looking to reduce the financial burden represented by payroll obligations.  One way to do this is to convert employees to self-employed independent contractors (ICs).  Care must be taken when doing so, however, as expensive consequences can result…

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Many contractors face bonding requirements in the form of bid bonds and performance bonds. The companies that provide these bonds want assurance that they are taking acceptable risks when providing bonds. Risk assessment includes a regular review of a contractor’s financial statements and operations. Here are the key items to consider when preparing financial reports…

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Of course different things work for different people, but these steps could probably apply to most of our busy, distracted, multi-tasking, first world lifestyles. In a Harvard Business School survey, 94% of working professionals reported working more than 50 hours per week and nearly half said they work more than 65 hours per week. What…

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