What is a section 85 rollover? Many individuals start their businesses as sole proprietors keeping their legal and tax compliance costs low until the business gets off the ground and starts producing income. To start the business, the individual would generally need to purchase assets or they might build a client list. When the business […]

Do you have a small business? Are you looking for a guide on how to do bookkeeping for your small business? Then, you’ve come to the right place! This blog post will discuss everything you need to know about bookkeeping, from setting up your books to tracking expenses and revenue. We’ll also provide tips on […]

Understanding tax instalments requirements imposed by CRA is fundamental. This article will tell a story about Pam who was employed and earned a bonus from her employer that she used to invest in the stock market. She sold some stocks and earned a $30,000 capital gain during the year and had to pay $4,500 of […]

Small business owners are responsible for many essential tasks, from marketing and sales to bookkeeping and accounting. But one of the most important – and often overlooked – aspects of owning a small business is how to keep receipts and good records. Records are essential for ensuring your business stays organized and efficient, and they […]

Small business owners have a lot on their plate. Not only do they need to worry about the day-to-day operations of their business, but they also need to make sure that their finances are in order. This is where having a good bookkeeper comes in handy. A good bookkeeper can help you keep your books […]

Since the start of 2022, construction costs have jumped by just over 8%. This increase contributes to the 33% increase in costs since the pandemic’s start.  For construction businesses, these rapid changes are forcing reevaluations of how they run their business and especially how they manage their cash flow.  A successful business demands a strong […]

The construction industry presents plenty of opportunities for accounting mistakes. Many of these mistakes can be costly.  Here are six of the most common accounting mistakes in the construction industry and why you must avoid them.  1. Completing Undocumented Work  Oftentimes, when a project gets underway, additional work is added or the original plan for […]

I want to tell you the story of Procrastinator Pete. Pete was a charismatic young and healthy man full of energy. An electrician by trade. Pete was ambitious. His number one passion in life was being an entrepreneur and building something from scratch. And he was good at it too. After earning his ticket as […]

For those in a trade business, it is critical to have all of your business systems working at their best.  Are they strong and compatible with each other? Are they helping you reach your business goals? Do you understand the processes and feel confident in their functionality? Or are they competing against each other and […]

Every growing trade business needs the support of financial pros, and you’ve likely weighed the options of outsourcing CFO services or having a CFO in-house.  Outsourcing can be a smart alternative to hiring in-house, especially for successful companies that are not of the size or complexity that requires a full-time CFO. There are pros and […]