In October of 2018, the federal government legalized the possession and use of marijuana for recreational and medicinal purposes in Canada. As a result, business owners have been dealing with a changing landscape. This means that they must understand not only the rights of customers but also the rights of their employees.
Families may not realize that they have a great opportunity to significantly reduce the cost of medical treatments and therapies through a health care spending account (HCSA). These accounts are not well understood and, if available, are typically underutilized due to a lack of awareness of how they can help.
Online purchasing transaction security is not absolute. There are not really “safe” and “unsafe” options anymore, meaning only alternatives remain that have varying degrees of security. However, understanding how your data is stored and used is an important first step.
Preparing for retirement can be a very stressful experience, with so many factors that you need to consider. How much money will I need to maintain my standard of living? How much will I want to travel? How long will I live? What if I outlive my money? There’s so much uncertainty, that financial rules of thumb for planning your retirement have become very popular – following them relieves at least some of that uncertainty. It is important to understand the assumptions, and the limitations of these guidelines, so that you understand whether they are relevant for your particular situation.
Whether you prepare the return yourself or have them prepared by Towler & Associates, CPAs, it’s time for all Canadians to be gathering their paperwork together for their 2018 personal tax returns. So, what changes for 2018 might affect your business? And, what other tax changes are coming into effect in 2019?
Automating an owner-managed business entails more than purchasing a new piece of equipment. The most successful transition requires a careful analysis of the existing production process, an understanding of where and when change is required, staged rather than wholesale transition, targeting repetitive employee tasks that can be automated, integration of production changes with business systems, involvement of employees and outside experts, and owner metamorphosis from micromanager to business manager.
In 2018, many owner-managers across Canada chose to adjust staff levels, wages and prices when the minimum wage was increased. For many, it is still too early to determine the final impact on the corporate bottom line as a full fiscal year has not been completed.
Every owner-manager has experienced new employees enthusiastically jumping head-first into the task at hand — only to see that enthusiasm for their job morph into complacency over time.
Manage cash flow better by projecting future tax liabilities.
Good record keeping today can prevent CRA penalties tomorrow.
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In 2008 my business partner and I were left high and dry with our previous accountant closing down his business, and selling his clients list to a downtown firm. We were not very happy with this arrangement, so we proceeded to search for a good accountant based on the North Shore. After several interviews with various accountants, we decided to go with Warren Towler from Towler & Associates, CPAs. Warren has done an exceptional job with our four company's yearend accounting. He has also provided…
David Crawford
Owner/Vice President
Edgemont Moving & Storage Ltd.
President Duchess Holdings Ltd.
Owner West Van Cartage Inc.