In this blog, I will be posting about topics of interest to small business owners and individuals. My posts will be based on the knowledge and experience I have acquired over the last 30 years practicing as a Chartered Accountant.
I also owned and managed several successful restaurants in Toronto for almost 15 years. That hands-on management experience will, hopefully, translate into a wealth of practical business advice for small business owners. You can learn more here.
As a tax accountant, you will find many posts related to personal and corporate income taxes, with a particular emphasis on tax audits, tax dispute resolution and tax appeals.
For Restaurant Owners
Restaurant owners, other accountants, and even CRA auditors, read my other blogs on restaurant tax issues and restaurant profitability. Follow the links to see a sample of the type of articles you can expect on this blog.
Business Start up & Business Plans
I'll be writing about important issues to consider if you are thinking about starting a new small business. Everyone should have a well-thought out business plan to document the key activities and decisions that will lead to success. I have helped many entrepreneurs develop strong business plans that helped them create successful businesses.
Over the years, I have amassed a wealth of information and resources to help owners create their own business plans. I'll be sharing these guides and templates with you. I'll be writing helpful posts covering the major sections in typical business plans.
Accounting & Business Intelligence
I have always been keenly interested in business intelligence and accounting information. I will be exploring practical ways this information can be used by small business owners to improve their operations, increase profitability and generate sustainable growth.
Small business accounting systems provide much of the support for tax returns. As a tax accountant, I am acutely aware of the tax implications of small businesses that fail to maintain a proper set of accounting records. I will be showing you how to strengthen your accounting system and greatly reduce your tax risks.
Tax Audits
At some point, you or your small business will be subject to a CRA review or tax audit. Without expert help, many result in unfair tax reassessments. I have a lot of experience helping individuals and small businesses avoid tax audit reassessments. I hope to write articles that will help you in this area.
Tax Appeals
If you have been reassessed for additional tax by the CRA, you know how stressful this can be. I will be sharing practical advice on how to appeal unfair tax reassessments and examples of strategies that work (and some that don't).
Personal Income Tax
I'll be writing about some of the more complicated personal income tax issues that may cost you more tax than is absolutely necessary. Some of these issues are related to ownership or employment in a small business corporation. There are many traps that await, if you're not careful. I hope to enlighten you.
I look forward to sharing my knowledge and experience with you through these articles. I welcome your comments, too. If you would like to learn about a particular topic, let me know.
Paul