I made a YouTube video on this very topic, and I highly recommend you watch the video. Before we begin, I have a confession to make. It was my second video, I was still learning, the graphics and effects are horrendous. Looking back, it’s quite embarrassing. On the flip side I am super happy to say the content itself is top shelf. Save yourself the eye strain and listen to… Read More
Companies need a budget, and they need it now!
Starting a company is fun, exciting, and scary at the same time. It’s natural to make mistakes as you go along your journey, it’s all part of the learning process. Pretending as if something doesn’t exist is not natural. Let me explain… Managing and monitoring cashflow, monthly financials, taxes filings, and preparing budgets and forecasts are part of your fiduciary duty as an officer of the company. In too many… Read More
The ins-and-outs of donations
Donations are the blood line for many organizations. It keeps people employed, it covers the organization’s administrative expenses, and yes, it also helps those in need. As for yourself, you get the intrinsic satisfaction of doing good for society extrinsically you get tax credits! Before we get into the nitty gritty let’s talk about donations from a macro level. Generally, for the first $200 you donate, you will receive a… Read More
Are you relocating down south?
Canada and the US are similar in certain regards and drastically different in many ways. Canada lives and breathes ice hockey whereas football reigns supreme down south. They have sandy dry deserts, and we have the great White Tundra. On the flip side our love for Hollywood, Canada’s safe streets, Southern tropical beaches, and Canadian beer is what unites us all. Unfortunately, our tax systems vastly differ and are quite… Read More
Immediate Funding Arrangements
The origin of the saying is unknown, but I am sure when gold coins were going out style and tendered currency was becoming the rage some aristocrat’s accountant must have said “Me lord, cash is king!” From that day on there have been countless songs, movies, wars, divorces, empires crumbling, empires rising, family feuds, murders, and misunderstandings with money being the central focal point. Fast forward to today, where the… Read More
Capital Gains Exemption
Disclaimer… blogs are supposed to be neutral, and the writer should focus on the facts and nothing but the facts. I need to get something off my chest so I will deviate from the norm and give what has now become a popular opinion. The new 2024 capital gains tax was introduced as a mechanism of taxing the rich and we were told the common Canadian will remain unaffected. Now… Read More