All items tagged with: entrepreneur

June 17 Filing Deadline for Proprietors: It Doesn’t Pay to Wait

Posted: April 16, 2019 By : Christine Steendam
Posted in: Strategic Thinking , self-employed, Small Business, proprietorship taxes, tax filing deadlines, tax preparation for proprietorships, entrepreneur, proprietor, June 15, Apri 30

With a little under two weeks until the April 30 filing deadline for individuals, tax filing season is in full swing. However, there is another upcoming date to think about: the June 17 filing deadline for proprietors. If there is a balance due, it’s best for all taxpayers to file and pay by April 30 in order to avoid interest costs.

Business Owners: Beware the Demographic Trap

Posted: January 29, 2019 By: Jenifer Bartman
Posted in: Strategic Thinking , succession planning, Evelyn Jacks, entrepreneur, leadership, business succession, Jenifer Bartman, business leader, Defusing the Family Business Time Bomb

Who will inherit the family business?  What will it be worth when time for transition comes? Why is this issue so difficult to discuss? There are many reasons, but demographic change is bringing it to the forefront and for these reasons, planning needs to happen sooner rather than later, according to a new book by Jenifer Bartman and Evelyn Jacks, entitled Defusing the Family Business Time Bomb.

When is the Right Time for Business Succession?

Posted: January 22, 2019
Posted in: Strategic Thinking , succession planning, Evelyn Jacks, entrepreneur, family wealth, business succession, business management, Defusing the Family Business Time Bomb

Transitioning a business can be an emotional period of your life as an entrepreneur. True leaders, however, embrace the fact that businesses need succession plans and that sometimes these businesses can even outgrow the skills of the founder. Knowing when to let go is probably the hardest business decision you will make as a business but your trusted tax and financial advisors can help.

Do No Harm: Advisors Need to Know Corporate Tax Planning for 2019

Posted: January 15, 2019
Posted in: Strategic Thinking , tax preparation, Small Business, tax filing, tax forms, entrepreneur, business tax, passive investment income, TOSI, Tax on Split Income, tax education for business owners

A newly updated certificate tax course focused on the dramatic changes to tax planning for corporate owner-managers is launching today. It’s so important that its updater, Dr. Dean Smith of Cadesky Tax says that advisors who do not understand these rules may very well cause harm to their clients. Here’s why:

How to Improve Service Levels: Tax Pros Give Advice to CRA

Posted: December 04, 2018
Posted in: Strategic Thinking , CRA, Canada Revenue Agency, Small Business, tax courses, cra business services, Canadian economy, entrepreneur, Auditor General Report, CRA service standards, CRA business enquiries

On the heels of recent criticisms by the Auditor General, Knowledge Bureau Report readers weighed in on CRA service levels and they were conclusive: 87% of last month’s poll respondents say that the CRA needs to work harder. They cited a myriad of issues from 32-week wait times for a T1 Adjustment to the need to correct CRA’s errors, some of them big. 

Don’t Skimp on This: The Cost of Bad Bookkeeping

Posted: November 27, 2018
Posted in: Strategic Thinking , Bookkeeping, entrepreneur, bookkeeper, Bookkeeping for Small Business, business owner, U.K. study, audit-proof tax, Online Bookkeeping Courses

Even in a DIY culture, there are benefits to hired help – especially when it comes to bookkeeping for small businesses. A recent U.K. study showed just how much it costs business owners who choose to go it alone without essential education and training in professional documentation techniques.