In Canada, a significant portion of the workforce operates on a commissioned basis, where their earnings are based on sales or other performance-related metrics.
Running a business can be a rewarding endeavor, but it also comes with its fair share of challenges. Among these challenges, managing debt is a common hurdle faced by Canadian businesses.
Managing business debt can be a challenging task for Canadian business owners. Whether it's due to unexpected financial hurdles or poor financial management, accumulating debt can hinder the growth and stability of your company.
If you’ve ever had to finance a car, get a mortgage, apply for a credit card or take out any other form of personal loan, chances are you’ve learned the importance of a good credit score.
When you get into the ebb and flow of the day to day - buying supplies, selling goods and services, fulfilling customer orders, getting more business – there are a lot of things that fall by the wayside. And staying up to date with company records is one of them for many business owners.
If you own a corporation in Canada, one record you are required to keep is an up to date company minute book. Which is something that some business owners aren’t aware of.
As an employer in Ontario, it's important to understand your obligations when it comes to minimum wage and overtime pay for your employees.
Buying or selling a company car can be a daunting task, with many legal and financial considerations to take into account. In fact, it’s a complicated process for many business owners - especially when it comes to HST on vehicles, which can result in missed opportunities or non-compliance.
As a business owner of a corporation, you can receive income in one of two ways - salary or dividends. This decision can be a complex one but taking the time to make it will maximize your after tax position.
