As digital payments become the norm for small businesses across Canada, fraudsters are constantly evolving their tactics. One growing threat is the fake Interac® e-Transfer deposit scam, where scammers send phishing emails or texts posing as legitimate payment notifications.
In today’s economic climate—with interest rates holding steady at elevated levels and inflation still impacting cash flow—small business owners are re-evaluating their savings strategies more than ever. One often-overlooked tool that can serve both personal and business-related financial goals is the Tax-Free Savings Account (TFSA).
Tax planning is a crucial aspect of running a successful small business in Canada. By employing strategic tax planning techniques, small business owners can optimize their tax liabilities, reduce financial burdens, and ultimately improve their bottom line.
If you have a home-based business or work from your home, you should consider getting business insurance. Business insurance can protect you against loss or damage to physical property or the loss of your business's ability to operate and generate income. Home or tenant insurance will generally not pay for claims related to a home-based business.
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.
