TECHNOLOGY Abandoning paper-based processes can improve productivity and profits. The more a task can be automated, the greater the increase in productivity and the greater the reduction in employee overtime and management frustration. Even though technology can speed up operations and reduces costs, far too often owner-managers continue to embrace legacy behaviours that keep their […]

MANAGEMENT A little adjustment to your sleep schedule before you travel can make you alert and ready for business when you reach your destination. Despite the ease and relatively low cost of modern telecommunications, it is still necessary for business people to travel to be onsite. This is especially true for business owners who want […]

MANAGEMENT The pending revision of Canada’s marijuana laws will affect the workplace. Liberalisation of Canada’s marijuana laws appears to be imminent. The Cannabis Act is currently expected to become law in 2018 and will decriminalize certain activities and make marijuana more widely available under a controlled production, distribution and sales system. Whether or not you […]

MANAGEMENT Shoplifting can ruin your business. Fred Tarasoff loves music. In fact, he used to own a record store, but had to go out of business in 1989 in large part because of inventory losses through shoplifting. Then he was assaulted by a shoplifter while he was running a health food store. Since that time, […]

  TAXATION A “tax refund” is really just the CRA giving you back your own money. “The government gave me money back” is a common phrase often heard after the April 30 or June 15 filing deadline. The truth is that the government is not being charitable; it is only refunding the tax that you […]

TECHNOLOGY WiFi offers new retail marketing strategies. The use of cut-out and email coupons to create consumer awareness of your business and your products has been around for a long time, but their effect on your revenue and profit is notoriously hard to measure. Some marketers are now hoping to get around this problem by […]

Self-employed people such as sole proprietors have until June 15^th to file income taxes.  However, note that the payment due date for any balances owing on your tax return was April 30^th.  The following are a few things self-employed taxpayers should be aware of…

First of all, when starting up your own business it is important that you determine the structure of your business. There are 3 types of business structures to consider…

TAXATION Develop a strategy for distributing earnings and reducing corporate income taxes. For most owner-managers, their goal is to create personal wealth through the operation of a successful business. Unfortunately, corporate and personal tax liabilities (among other things) stand in the way. Owner-managed businesses must struggle with tax on two fronts: making a profit while […]

MONEYSAVER Start planning now for interest rate increases. Historically low rates have encouraged borrowing for equipment, real estate, operating lines of credit and everyday purchases. How much longer interest rates will remain at these levels is an open question but now is a good time to start thinking about the potential impact of higher rates […]