Pinnacle PAC knows that leaders are readers. The Pinnacle Team endeavors to constantly nurture our minds, expand and enhance our services, and remain thought and practice leaders in the accounting industry. We have assembled an ever-growing list of books that we feel are worthy of your time and attention. 1. The Emyth Revisited – by…

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If you are a doctor, dentist, or other professional and are considering purchasing a practice, you are likely contemplating a purchase of shares. And you should read this blog. There are a number of ways to structure a purchase of shares, but in this blog I will discuss three options:  Purchase the shares of the…

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I have a Bookkeeper! Do I really need an Accountant? Two of the most frequent questions we are asked are: Explain the difference between a bookkeeper and an accountant. If I have one do I need the other? (The answer is usually yes.) They are great questions. Because we work so closely together, the boundaries…

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We are often asked by clients whether they should lease or purchase their vehicles (either outright or using a loan). We have tried to distill the decision down to a few rules of thumb. In general, leasing is more expensive than buying because the leasing company accepts a portion of the depreciation risk. The advantages…

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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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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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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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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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