Blog
How to properly deduct Meals and Entertainment Expenses!
Learn the rules surrounding meals and entertainment expenses for your business
Turning Your Airbnb into a Profitable Business (for Canadians)
With the right strategy, your Airbnb business can be more than just a source of extra income - it can be a thriving, profitable venture that provides financial security and peace of mind.
Invoicing 101: The Importance of Accurate and Professional Invoices
Invoicing is a critical aspect of your operations whether you're a small business owner, freelancer, or a large corporation. Learn why invoicing is so darn important!
The Importance of Job Costing for Business Success
Ensuring profitability on every job requires more than just good sales skills; it hinges on accurate job costing. Discover strategies for improving efficiency and reducing waste to protect your bottom line.
Should I Incorporate? Understanding Business Structures for Canadian Entrepreneurs
Deciding whether to incorporate is a crucial decision that can significantly impact your business's success. Learn the pros and cons of different business structures and how to make an informed decision that sets you up for long-term success.
The Difference between Capital Assets and Expenses
This blog post demystifies the differences between capital assets and regular expenses, emphasizing the importance of depreciation in financial reporting.
Understanding Employment Insurance (EI) Eligibility in Canada
Navigating Employment Insurance (EI) can be complex! This post will help you confidently navigate EI.
Streamlining Debt Recovery: A Tool for your Small Businesses
Learn actionable tips to secure upfront payments, handle non-paying clients, and implement early intervention strategies.
Navigating Your Costs: A Closer Look at COGS for Entrepreneurs
Understanding the Cost of Goods Sold (COGS) is essential for managing your business’s profitability and financial health. Learn how COGS impacts your bottom line and how to optimize it for greater financial success.
Communicating Confidently with Financial Professionals
Navigating financial discussions with your accountant can feel intimidating, but it's crucial for your business's success. Bridge this communication gap to ensure you understand your finances and can make informed decisions.
Safeguarding your Vision: The critical role of Internal Controls
Internal controls are crucial for your business to protect itself against fraud. Learn what you can do to reduce your risks.
Evolving Your Ethical Business: Should You Pursue NPO or Charity Status?
If you are a Canadian business considering not-for-profit or charity status, make sure you read about these important considerations.
Financial Systems: A High-Power Tool for Business Success
Implementing a financial system has never been easier, and it is essential for keeping your business’ finances on track!
How to compensate yourself from your business?
How should you compensation yourself from your business? In this post I look at salary, dividends, owners draws and bonuses as compensation methods.
8 Biggest Finance Mistakes Small Business Owners Make
In speaking with hundreds of business owners since leaving the corporate world, I have noticed that many are making the same mistakes when it comes to their finances.
Review your financials!
I explain why it is important to regularly review your financials, and I also provide an alternative to the traditional accounting department: the Fractional CFO model.
What the HST?
I break down what HST is for Ontario businesses. If you are not registered for HST you are leaving money on the table that you could be receiving back from the government.
That’s not a write off!
Inspired by a scene in Schitt’s Creek, I discuss what can and cannot be written off as a legitimate business expense. The funny scene inspiring this post is embedded within.