Last month, I highlighted the following top five challenges we faced in our business: Cash flow issues/Undercapitalization of your business No investment in a proven pipeline for new business Shallow dialogue with our clients Lack of differentiation in the market place Fear or reluctance to take risks or try new things We discussed item #…
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Are you focused on “Return on Life”?
Two weeks ago, I was at a seminar and had the opportunity of listening to a presentation by Mitch Anthony, author of “The New Retirementality: Planning Your Life and Living Your Dreams…at Any Age You Want”. For me, it was a great presentation as it aligned completely with my thoughts and ideas around retirement. Return…
Our Top Five Challenges In Running Our Business – Part 1 of 5
Last month, I provided the heart breaking stats on the survival rate of small businesses. As a fairly new business start-up, we faced and continue to face similar challenges. As we mark our 5th year in business, I want to highlight the top 5 challenges we faced in our business and some of the steps…
The Story of Ralston and Doreen – Small Business Owners, Collateral Damage?
Summer has drawn to a close, the children are settling down in school and university, and Ralston and Doreen are preparing to implement the new menus in the restaurant for the last four months of the year, to ensure that they meet the sales and profit targets set at the beginning of the year. Doreen…
How Good Is Your Chance To Survive Another Year In Business?
Stats show that the longer you stay in business the worse your chances of survival, at least for the first 10 years in business. According to the Bureau of Labour Statistics in the U.S. about 80% (four-fifths) of businesses with employees will survive their first year in business; about 66% (two-thirds) of businesses with employees…
TOP 10 REASONS WHY YOU MAY BE PAYING TOO MUCH IN TAXES
Whether you like it or not, taxes affect all of us. In fact, it is probably the biggest household expense (assuming you have a decent job or business), yet most people do nothing to manage their taxes. Here are top 10 reasons why you may be paying too much in taxes: Lack of periodic tax…
DON’T BE A FOOL…
After tax season, one of the things we recommend to our clients is to set aside time to review their tax return and start thinking about opportunities to improve their tax situation in the months and years ahead. In other words, to start making plans to ensure they are using all legal strategies available to…
8 REASONS YOU’RE HAVING A TOUGH TIME WITH THE TAXMAN
At GMS, we have found that many of the difficult interactions with CRA can be avoided by a simple shift in how we approach them. The top 8 reasons that cause this strained/difficult relationship are highlighted below. We have included suggestions on how to avoid or get out of these situations, if you have…
TOP 13 WAYS THAT THE 2017 FEDERAL BUDGET IMPACTS YOU
Caregiver tax credit now consolidated. Dependant does not have to live with you in order for you to claim this credit. Credit can no longer be claimed for seniors who are not sick, and who reside with their adult children. Elimination or modification of some tax credits – loss of public transit amount (July 2017),…
BEWARE! YOU MAY BE PAYING TAXES ON SALE OF YOUR PRINCIPAL RESIDENCE
On October 3, 2016, the Government announced an administrative change to Canada Revenue Agency’s reporting requirements for the sale of a principal residence. A principal residence is considered your primary home of residence, a home that is ordinarily inhabited by the taxpayer or by his or her spouse or common-law partner, former spouse or common-law…
