Entrepreneurs face a multitude of challenges every day. One critical decision that often arises is how to handle bookkeeping efficiently and effectively.
It’s the dream of nearly every business owner to pass down their legacy through generations, envisioning a future where the business they built with sweat, tears, and determination thrives long after they are gone.
But while 88% of current family business owners believe their business will remain in the family, the harsh reality paints a different picture.
Managing records and bookkeeping is essential for any business, regardless of its size. Keeping your financial records organized not only ensures compliance with regulations but also provides valuable insights into your business's financial health.
As a self-employed business owner, keeping track of your finances is crucial for the success and growth of your business. But managing your finances can be a daunting task, especially if you're not familiar with accounting practices.
Fortunately, with the right accounting software, you can streamline your financial management and focus on what you do best – running your business.
Tax season in Canada is approaching rapidly, and for business owners, this period can be particularly stressful without proper preparation.
Tax planning is a crucial aspect of running a successful small business. By employing strategic tax planning techniques, small business owners can optimize their tax liabilities, reduce financial burdens, and ultimately improve their bottom line.
On June 23, the Select Luxury Items Tax Act received Royal Assent and came into effect on September 1 of this year.
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.
