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Advice for Business Owners

Do You Have a Succession Plan for Your CFO/Controller?

Joseph R. Schlett on April 13, 2016 in Advice for Business Owners

Recently, I had the privilege of meeting with a group of financial professionals to discuss CFO/Controller succession planning. The subject was topical given findings from a 2013 study authored by the Financial Executives International Canada, the Canadian Financial Executives Research Foundation and Robert Half that cited only about one-third of SME private businesses had developed … Continued

Small Business Job Credit

Christine Mills on March 21, 2016 in Advice for Business Owners

Receiving money from CRA and don’t know why? If you are a business owner that has recently received a cheque from the Receiver General, do not be alarmed.

Think Twice Before Inter-Corporate Dividends!

Richard Weber on January 25, 2016 in Advice for Business Owners

Accountants and the tax community are slowly gaining increased clarity from Canada Revenue Agency (“CRA”) regarding very significant, complex, unfavorable tax changes proposed during the 2015 year which have widespread impact to private corporations that move funds, as dividends, within a corporate group, among other things. Historically, dividends have usually been received by Canadian corporations … Continued

Tax Alert

Lisa Garland on December 8, 2015 in Advice for Business Owners

The federal government introduced changes regarding the GST/HST “Closely related election” which impose a filing deadline of December 31, 2015. This election allows certain closely related corporations and partnerships that are registrants engaged exclusively in commercial activities and that are members of a qualifying group, to not charge GST/HST on taxable supplies made to group … Continued

How Two Entrepreneurs Are Changing the Way People Look at Food

Brittany Phillips on November 27, 2015 in Advice for Business Owners

An interview with Kelly Childs, Co-Founder of Kelly’s Bake Shoppe You cannot mistake the inviting pink sign of Kelly’s Bake Shoppe in downtown Burlington. Owned by mother/daughter duo,  Kelly Childs and Erinn Weatherbie, Kelly’s is a haven for scrumptious, vegan, non-dairy, egg-free, nut-free treats. Ranked third on BuzzFeed’s list of The Top 25 Cupcake Shops in … Continued

Update on Verification of Suppliers’ GST/HST Numbers for ITC Claims

Richard Weber on November 13, 2015 in Advice for Business Owners

Section 169(4) of the Excise Tax Act requires a purchaser to substantiate its input tax credit (ITC) claim by obtaining information from the supplier, including the name of the supplier and the GST/HST registration number assigned to it. This information is typically obtained from the invoice provided by the supplier. Beware: Invalid information such as … Continued

The Pros of Processes and Procedures

Gregory Clarke on August 18, 2015 in Advice for Business Owners

Einstein defined insanity as doing the same thing over and over but expecting a different result. In business, repetition of processes with the purpose of achieving the same result is the desired outcome. Standard results are valued as a predictor of success over random results achieved through inconsistent practices. Properly thought out and executed processes … Continued

Advisory: “Ransomware” is on the Increase

Heather Cooper on March 11, 2015 in Advice for Business Owners

No matter what your business is, including the business of life, one of your top 3 priorities should be security – and in this specific case, “cyber-security”.

Separating YOU From Your Business

Trevor Hood on March 4, 2015 in Advice for Business Owners

Previously, I wrote a blog about business value drivers and how certain factors can impact the value of a business. Now I’d like to address what is probably the biggest value driver in any small to medium enterprise – you as the business owner.