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Webinar – How to Stress Test Your Business

Webinar – How to Stress Test Your Business

We are in the midst of a remarkable economic period. A few weeks ago, ‘inverted yield curves’ brought predictions of an impending recession. In September, the TSX reached a record high and unemployment levels hit historic lows. But warning signs and threats persist, including on-going trade wars, geopolitical tensions in the EU and Middle East, […]

How To Cut Out The Guesswork And Bid Smart on Construction Projects

How To Cut Out The Guesswork And Bid Smart on Construction Projects

Competition is tough for construction companies. There are contracts to be had but they are increasingly more difficult to win. To be competitive, and win those contracts, these are some basic financial questions that company owners should be asking themselves. What profit margin should I use to bid on the job? I want to keep […]

Independent Contractor vs. Employee

Independent Contractor vs. Employee

Determining whether you’re an employee or a contractor is a critical decision with important consequences for both the worker and payer (the company, employer or individual paying for the work). Employee or contractor? It might sound like an easy distinction to make, but it is not. This article covers both the factors CRA uses to determine the tax treatment, and the advantages and disadvantages for the individual in each circumstance.

How to Stay Together While Moving Forward: Anticipating Issues in Succession Planning for the Family Business

How to Stay Together While Moving Forward: Anticipating Issues in Succession Planning for the Family Business

Passing an established business from one generation to the next is invariably difficult, especially when you add the complexity of family dynamics. So, how do you avoid the traps of failure during transition between generations? Unbiased, experienced external advisors can provide valuable advice because what they see happening with one family, they have likely seen happen to many others.

Personal Services Business – Avoid the Trap

Personal Services Business – Avoid the Trap

The last thing you want when you incorporate your business is for the Canada Revenue Agency (CRA) to label you a personal services business (PSB).

If CRA determines an incorporated individual working as a contractor is just an employee of the company they are working for, they would be deemed a PSB.

There are many advantages to incorporating, and despite the possible pitfalls, it may be beneficial for you to do so. But, it’s complicated and can be confusing. Talk to a tax specialist before you decide.