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info@gmscpa.ca
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Category: Small Business

Home Archive by Category "Small Business"

Attention: Black Business Owners and Aspiring Black Business Owners – We Invite You To Join Us For 5 Days of Business Training Starting Oct 5

September 30, 2020gmscpa

Can you commit to one hour a day for 5 days next week to learn and get a framework to build an amazing business? Learn from Celia, Ken, and other successful Black business owners as we share our experiences and show you the key things you must focus on to build, grow, and scale your…

How To Get A $10,000 Gift And Potentially Double It In Two Years

May 27, 2020gmscpa

This Corona Virus pandemic has devastated the world economy and has caused enormous hardship on many fronts — for individuals and businesses. Throughout the pandemic, many governments around the world are providing support to their citizens and businesses to weather the storm caused by this virus. The Government of Canada is playing it’s role and…

CRA Challenges A Photographer’s Source Of Income 

May 14, 2020gmscpa

In a February 19, 2020 Tax Court of Canada case (Hurwitz vs. H.M.Q., 2018-406(IT)I), at issue was whether the taxpayer (H) had a source of income in respect of his abstract photography endeavor. For the two years in question (2013 and 2014), H earned gross income of $5,000 and $10,000 but had net losses of…

Self-Employment: Is It For You?

June 29, 2018gmscpa

Quite often, we run into a lot of people who want to become self-employed for a number of reasons ranging from just being tired of working for someone else, job loss from downsizing or those simply sick of office politics. Whatever your reason, the big question is: Should you? Is Self-Employment for you? I recently…

Our Top Five Challenges In Running Our Business – Part 5 of 5

January 31, 2018gmscpa1 comment

This month, we conclude our series on the top five business challenges in running our business. If you’ve missed any of the previous articles, you can click on any of the three previous challenges below to read the details: Cash flow issues/Undercapitalization of your business No investment in a proven pipeline for new business Shallow…

Our Top Five Challenges In Running Our Business – Part 4 of 5

December 27, 2017gmscpa

This month, we will look at the forth challenge we faced in our business. If you’ve missed any of the previous articles, you can click on any of the three previous challenges below to read the details: Cash flow issues/Undercapitalization of your business No investment in a proven pipeline for new business Shallow dialogue with…

Update on the July 18, 2017 Tax Proposals – What We Know and What We Don’t Know

December 1, 2017gmscpa

As most of you know, sweeping tax proposals were made by the federal Liberal government on July 18, 2017 that had some of the most significant changes to the taxation of Canadian private corporations since the early 1970′s. Following a dramatic and strong negative reaction to these proposals from tax practitioners, taxpayers and the business…

Our Top Five Challenges In Running Our Business – Part 3 of 5

December 1, 2017gmscpa

We are back this month looking at the third challenge we faced in our business. For those that have not been following, below is the list of the top five challenges we’ve been discussing over the last couple of months: Cash flow issues/Undercapitalization of your business No investment in a proven pipeline for new business…

Our Top Five Challenges In Running Our Business – Part 1 of 5

September 29, 2017gmscpa1 comment

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?

September 3, 2017gmscpa

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…

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Recent Posts

  • Attention: Black Business Owners and Aspiring Black Business Owners – We Invite You To Join Us For 5 Days of Business Training Starting Oct 5
  • How To Get A $10,000 Gift And Potentially Double It In Two Years
  • 5 Reasons Why Most People Don’t Use Insurance As A Tool For Wealth Planning
  • CRA Challenges A Photographer’s Source Of Income 
  • Hand In Hand – How To Multiply Your Impact And Tax Savings With The Creative Use Of Life Insurance

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