The importance of diligence

Nov 30

Increasing your security

Recently a customer had their credit card hacked when trying to book a reservation at an Air-B&B.  Their credit card was subsequently used for a few transactions that they had no knowledge of, and thankfully their bank noted these odd transactions and suspended the… Continue reading
Jun 22

Build the webbing!

It is an exciting time for people as they starting out in a new business venture.  Business plans, marketing strategy, developing your storefront or fitting out the new office area, presenting your products and services to attract the customers that will make your business a success.  Plan early for a system for keeping the books and records which you will need to produce the financial reports that support your business decision-making and show your shareholders and bankers that the path you have chosen is the right one.  Set out to form a strong support webbing for the company on which a sound and well-managed company will grow.Read More
Feb 20

Business versus personal…

... is a topic that always requires discussion.  A corporation is really an individual entity that is to operate independently of its shareholders and officers, and a sole proprietorship is best treated the same way. Often a business owner will incur expenses that are related to the business by using personal cash, a personal bank account, or a personal credit card.  Read More
Feb 6

RRSP information

Registered Retirement Savings Plan's (RRSP) are still a great way to invest if you are earning higher income now than you will after your retirement.  RRSPs are part of your long-term planning for your life after work, and are of limited value in the short term unless your are anticipating a large change in your income level sooner rather than later. Read More
Feb 4

Foreign property reporting

Canadian resident individuals who held certain property outside Canada with a total cost of more than $100,000 CAD at any time during the tax year are subject to certain disclosure requirements to the Canada Revenue Agency (CRA).  Non-compliance with this reporting requirement results in severe penalties. To determine whether you are subject to the reporting rule, please read and consider each of the following points carefully.Read More