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What is the Canada Digital Adoption Program?
If your online business is struggling, or if you’re not sure if going digital is right for you, new funding from the federal government could provide the perfect opportunity. The Canadian Digital Adoption Program makes the move to digital business solutions more...
Should I Hire An Employee or Contractor?
When it’s time to grow your business, people are usually high on the list. The question is should you hire an employee or a self-employed contractor? Who you choose to join your team and how they are hired is more complicated than simply finding people with the right...
What is the “Underused Housing Tax Act”?
With the 2021 Federal budget, the Government of Canada announced a new one percent annual tax on residential properties that are underutilized or vacant, the Underused House Tax (UHT). As of January 1, 2022, this new tax act came into effect. Although the criteria for...
What are the 2022 Tax Filing Deadlines?
Whether you are a resident in our home community of Grande Prairie, Alberta, live somewhere else in Canada or live the Canadian snowbird lifestyle if you’ve earned personal or business income in 2022, now’s the time to start planning for tax season. Our team here at...
Why you should save in an RRSP
If a Registered Retirements Savings Plan (RRSP) is currently part of your financial portfolio, you’ll have until March 1, 2023, to maximize your 2022 contribution. If you don’t hold an active RRSP, this blog may convince you to act now to realize immediate tax savings...
Capital Cost Allowance And The Current Incentives
Canadian businesses use depreciable capital assets, such as machinery or equipment, in their operations. As businesses age, new capital property must be acquired to improve processes or to replace old assets at the end of their useful life. As a community, Grande...
How to Transfer Assets from a Proprietorship to a Corporation
As Grande Prairie grows, we see entrepreneurs launching new endeavours and expanding operations. If you’ve been operating as a sole proprietorship and have recently made the leap to incorporation, you’ve likely transferred personal assets into your business. After...
How to Maintain a Healthy Cashflow as a Business in Grande Prairie
Maintaining a Healthy Cash Flow Cash flow management is an essential element in business performance. Profit shows the balance after all expenses are deducted from revenues, whereas cash flow shows cash moving in and out of your business on a daily basis. Maintaining...
Writing Off Your Business Expenses
Accurate record-keeping and smart spending are not just good business practices, but they directly impact your bottom line. Knowing which expenses your business can claim as business deductions directly influences your net income for taxation. Below we outline...
Simple Steps to Set Up Your Estate
We believe smart financial planning should go beyond your working and retirement years to include what you leave behind for the people and causes you care about most. Below we provide some simple yet critical steps to ensure your final wishes are documented to make...
Understanding Your Business Statements
Accurate accounting does more for your business than ensuring compliance and optimizing taxation. Professionally prepared statements provide decision-makers with data on key financial performance indicators. Below we discuss some of the most common business accounting...
Setting up Your My Business Account
Most Canadian business owners have dealt with the Canada Revenue Agency (CRA) at some point or another. Thankfully today's technology makes it easier for business owners and their authorized representatives to access corporate income tax, payroll, GST/HST and excise...