outsourcing bookkeepeing

Outsource your Bookkeeping

Outsource your Bookkeeping to an Accounting Firm The decision to outsource your bookkeeping is something that many small business owners struggle with. Many prefer managing their own bookkeeping. Doing it yourself or keeping it in-house is not always the best approach. Sometimes it is better to delegate the responsibility of bookkeeping. Here’s why. You get[…]

direct vs indirect method

Direct vs Indirect Method of Cash Flow

DIRECT VS INDIRECT METHOD In my previous post, I spoke about how important cash flows are for a business and provided tips on how to improve your businesses cash flow. Major factors that affect cash flow are large purchases such as inventory which would be purchased all at once but sold over time, large capital or[…]

Cash flow

Cash Flow Tips For Small Business

A high percentage of business start-ups fail due to cash flow problems. They focus on building a business and ensuring that they have a budget and a profit margin forecast. While these are important for all businesses, cash flow should not be forgotten. Without cash flow it does not matter how big your profits are[…]

capital gain vs business income, flipping house

Capital gain vs business income when house flipping

Capital gain vs business income When flipping a house, people usually prefer to have the profit treated as capital gain which is only 50% taxable at their individual tax rate, compared to business income which is 100% taxed. There are some situations where business income may be preferred. For example when a sale of a[…]

tax return, cpa

Why you should choose a CPA for your tax return

Tax return – Pay the lowest cost seasonal tax preparer or hire a CPA? It’s that wonderful time of year again – tax season. While this is something that all Canadians have to do, everyone has their own way of doing it. Some prefer to pick up the forms and do them manually. Others will[…]