In the last part of this series, we looked at why hiring a bookkeeper can save your business money. The next step is making sure you hire the right person for the role. One of the biggest hiring mistakes starts with trying to fill two very different jobs with one person. It’s common to look for someone who can […]
In the last part of this series, we talked about when hiring a bookkeeper becomes a worthwhile investment. Before we look at the most common hiring mistakes, it’s important to understand the difference between bookkeeping and administrative work. These roles often work closely together, but they aren’t the same. Knowing where one role ends and the other begins makes […]
In the last part of this series, we looked at when it makes sense to hire a bookkeeper. Once your business grows beyond that point, the next question is whether hiring one is worth the cost. In many cases, the answer comes down to how much those bookkeeping mistakes could end up costing your business. Growing Businesses […]
One of the questions business owners ask most often is when it’s time to hire a bookkeeper. The answer depends on your business, but there are a few practical rules of thumb that can help you decide. Rule of Thumb #1 If your time is worth more than about $120 an hour, your focus should be on […]
Business owners are often hiring the wrong people for the wrong job. Let’s break down when you need an accountant, a bookkeeper, and administrative support. What Does an Accountant Do? If your business is incorporated, your accountant prepares your year-end tax filing, gives you advice on reducing your taxes through proper tax planning, and completes the financial reports you may need to share […]
If you are an incorporated business owner in Northern BC and you have been adding staff, there is a CRA rule worth understanding before it catches you by surprise. It is not about your revenue, your profit, or how big your company looks on paper. It is about how much you are withholding from employee […]
https://youtube.com/shorts/E5OhPvqqhWA?si=Z_8vi_3bopD6stZx One of the most common ways I see business owners paying too many taxes is by not managing their shareholder loans. Let me break down what that means and why it matters. What Is a Shareholder Loan? A shareholder loan works in two directions: You borrow from your business: If you take $10,000 […]
I received a question recently asking about the difference between being paid hourly and being paid salary. When it comes to the BC Employment Standards Act, the answer often surprises people. Frankly, it means almost nothing when it comes to overtime. Many employees assume that if they are on salary, they are not entitled to […]
https://youtube.com/shorts/pEqXwRY9W_M?si=Tz-GK60nBsSyN1vs I was talking to a new client this week. They’re tradespeople and had already incorporated their business before coming to us. In this case, I actually wished they had spoken with an accountant or lawyer before making that decision. I don’t always recommend calling professionals before every business decision. But when it comes […]
https://youtube.com/shorts/iYtnrITHuKk?si=tsZlIk7lwYBjrTJq I was on my way to the ski hill one morning when a client called me with a quick question. They run a plumbing company and wanted to check something before making a purchase. They asked: “Can I write off a washer and dryer as a business expense if it’s installed in my house?” […]