You’ve had a good run, but now it’s time to wrap things up and close your business. Often, people think they can just walk away and ignore the business, but it’s not that easy. This is another example of how your business resembles your child!… to read more, download: “Financial Notes” Connection Article September 2012
As a sole proprietor, you are allowed to deduct a portion of your home expenses as a cost of operating your business, but this deduction must be applied with discretion… to read more, download: “Financial Notes” Connection Article August 2012
If you use your vehicle for your business you can recognize that usage as an expense to your business. Vehicles that are used 90% or more for business can be owned by the business… to read more, download: “Financial Notes” Connection Article June 2012
Income splitting is a tax strategy that involves transferring income from a higher-earning spouse to a lower-earning spouse or adult child… to read more, download: “Financial Notes” Connection Article March 2012
The door and phone at accounting firms across the country are starting to get busier as tax season approaches. All slips are supposed to be issued by Feb 28 so by the second week of March, in theory, you should be able to file your tax return. Regardless of your sources of income, if you … Read more
When the owner of a small business decides to hire his or her first employee, there is a strong temptation to bring on that worker as a self-employed contractor. This arrangement is seen to reduce the owner’s risk. In many ways, it does; the risk is shifted to the worker who has no employment insurance, … Read more