FROM THE SUCCESS PEOPLETM
At KAFT CPA we’re here helping people achieve success, both in business and personally. We’ve created this blog to provide you with expert accounting tips to help save your money and grow your business.
A business is only as good as it’s bookkeeper. Good records will help you keep track of where your business has been, and knowing that will help you plan ahead and make important decisions that can determine the success of your business in the future. Bookkeeping records can help you: Track your business growth by …
Income sprinkling was a technically legal, but unethical way to reduce your tax burden by paying family members dividend income from your business. Say you make $100,000: you could pay $24,809 on that income. By ‘sprinkling’ it into two pools of taxable income of $50,000 each you’d pay $9,110 on each, saving yourself $6,589 per …Read More
You probably got a loan, large or small, to start your business and you’re likely to be paying it back for quite some time. Your business won’t take a smooth trajectory from small business loan, to paying it off to rolling in profits: you might need another business loan or line of credit to …Read More
2018 is rapidly approaching. Before you know it the holidays will be upon us and the new year will have started. Next, it will be spring and then it will be time to file your 2017 taxes. Avoiding the stress that often comes with the reporting season is made easier when you implement personal tax …Read More
We’ve said before how important it is to make every second count when running a small business, from Bonnyville Accountants like ourselves to one of our diverse set of clients. Once you have the big picture taken care of you’re faced with the nitty-gritty of actually getting your work done, hour by hour, minute by …Read More
We covered in a previous post how you can carve out the time to build your small business into a medium business. There are going to be a lot of challenging moments when you’re growing a business and scaling up, but the main one is keeping what made you start the business in the first …Read More
Want to scale a small business? Admit it, no matter what kind of business you have, you’ve dreamt about scaling it up. Even if you own a neighbourhood coffee shop you’ve thought about how great it would be to open a second location, then a third, a tenth, a hundredth, a whole franchise, becoming the …Read More
Some of the biggest companies in the world started as ‘mom and pop’ operations: Fiji Water, Forever 21, Panda Express- even Walmart is a family business (the ‘Wal’ comes from Walton.) For those of you starting a business, your spouse is an obvious choice for business partner: you trust them and you know that you …Read More
It’s the small costs that can sink a small business: Print cartridges, coffees on the company credit card, a new set of business cards- it all adds up. There are a few simple small business tips to save on operating costs, and perhaps enhance your business while doing so. Technology You’re never going to …Read More
When it comes to business, taxes are a way of life. You have to make regular payments to the Canada Revenue Agency (CRA), or your business will cease to exist. However, that does not mean you have to pay your taxes blindly. There are steps that you can take to minimize your company’s tax burden. …Read More
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