Motor Vehicle Tax Deductions for Businesses
Motor vehicle tax deduction for business purposes can be claimed to minimize the taxes. However, there are certain conditions imposed by the CRA to claim these automobile expenses. In this…
BC Wage Increase Analysis
BC Wage Increase Analysis The impact on small business profitability BC Wage Increase Analysis The purpose of BC wage increase is to make housing more affordable in BC for those…
BC Employer Health Tax
What is BC employer health tax? The employer health tax is an annual tax on certain business in B.C. remuneration paid to employees and former employees in a calendar year…
BC Minimum Wage Increase June 2020
On June 1, 2020, Province of BC increased the minimum wage to $14.60. The hourly minimum wage is the same for adults and young people. Some professions have a separate…
Small business bookkeeping Services
BC Minimum Wage
B.C. is raising the province's minimum wage to 15.20 by 2021. Also, by Jun 2018, minimum wage will be $12.65. For more information read here
2016 Federal budget
2016 federal budget proposes to keep the small business tax rate at 10.5 % after 2016. As a result, the budget also proposes to maintain the dividend gross-up rate at 17% and…
Business Strategy
What is strategy and why it is important?
To compete effectively in the market place you need a strategy. If there is no competition, there would be no need for a strategy. Joan Magretta, an author of Harvard…
Importance of financial forecasting
One of the main reasons for a small business failure is lack of planning of cash. A good forecasting mechanism increases business success chance and minimizes the failure risk. Small…
What is benchmarking and why is it important for my business?
In simple terms, benchmarking is a tool to compare business performance against the industry. It is one of the ways to judge what the best practices are and how you…