Topping up your RRSP contribution may not be in your best interest. Let the experienced team at A1 Accounting and Business Solutions assess your situation and determine what will benefit you most in the long term. Depending on your tax bracket, your A1 Accountant may suggest options such as a TFSA or a non-registered investment, […]
Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non‑refundable credits, and most other amounts will take effect on January 1, 2015. However, increases to the Canada child tax benefit (including the […]
You might think it’s too soon to start thinking about your personal taxes for this year. It’s always a good idea to be up-to-date on the changes in the Canadian tax system, though … especially when those changes might affect you and your family. Revenue Canada has introduced some new credits and improved some existing […]
You’re good at burning the candle at both ends, aren’t you? Entrepreneurs are known to keep crazy schedules, giving all they have to the growth of their businesses — including 10- to 12-hour days and weekends. A 2013 Bank of Montreal survey shows Canadian small business owners work an average of 51 hours a week, […]
In business, the old saying is more right than we sometimes want to admit. “It isn’t what you know; it’s who you know.” Building relationships and surrounding yourself with the right people can often be a key to success, especially within the Calgary small business community. Networking can help a small business owner : ✓ […]
Times are tough. It can be tempting for a freelancer or a small business owner to take a contract job that stays off the books. It’s called “working under the table” or “unreported income.” And the government isn’t a big fan. In fact, Revenue Canada says unreported income is part of the “underground economy” they’re […]
We have bad weeks. Or bad months. In this economy, many of us might be having a bad year. When your frustrations mount and your small business starts to feel like a burden, you start to feel like giving up. However, you’ve invested almost everything you have in this business, quitting your job and diving […]
Is it too soon to start talking about your end-of-year? Sure, it’s only November and Christmas comes first but, before you know it, the calendar is going to change to 2015 and it will time for small business owners to think about taxes. If you’re a sole proprietor, December 31 marks your year-end, since you […]
We see it all the time. Small-business owners aren’t always sure what they can — and can’t — claim as business expenses. Revenue Canada is, however, pretty specific on the list of allowable business expenses. You could try to find a loophole around but you risk getting into a bit of trouble if the feds […]
Our provincial and federal governments are finding ways to ease the pain and suffering of small business owners. This week, to recognize Small Business Week across Canada, each government announced initiatives to simplify some entrepreneurial struggles. Alberta’s Progressive Conservatives launched a website aimed at “giving small business a stronger voice in government, easier access to […]
