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Making money is the sole purpose of most small businesses, and while many may still see themselves as being successful even if they’re not in profit at the end of each financial year, most small business owners will do everything that they can to get as much from the existing businesses cashflow, as they possibly can. There is in fact, a relatively simple and straightforward formula that can be followed… Read More

Did you know that the federal government offers varied tax breaks for small businesses; tax breaks that could do more than just help your small business to keep afloat, but help it to become more successful and thrive, too. Some of these tax breaks may be yesterday’s news to most small business owners, but some may be new and have been added or enhanced under the Small Business Jobs Act… Read More

How you prepare and file your taxes, depends entirely on what type of small business you have; whether you run it as the sole proprietor or use a legal entity like an LLC or corporation. Depending which applies to you, there will be a tax form to report the income from your business and its expenses. While the forms are different, the way in which you calculate your taxable income,… Read More

There are often several reasons why small businesses don’t employ the services of a bookkeeper, but as most business consultants will tell company owners that hiring a bookkeeper could really benefit their business, knowing when to hire one is quite simple! While each of the reasons why small businesses don’t take on a bookkeeper may be valid, they could still leave a company struggling to complete the necessary paperwork or… Read More

Creating reports for your business may not always be a priority, but whether you’re the sole proprietor or have partners, business reports can save you money in the long run and help to secure the future of your company. What are custom reports and why are they so useful? Custom reports help you to document your business’s progress, provide you with a way of comparing that progress over certain periods… Read More

Number crunching isn’t everybody’s favourite task, and budgeting for your small business can be tricky, but successful businesses are usually the ones who have mastered the art of budgeting, and go on to reap the rewards. Creating and maintaining a budget for your small business doesn’t have to be hard, and provided you stick at it and update it regularly, it should become a great tool for helping your business… Read More