A high gross margin is often viewed as the most important sign of a company in good financial health. Before you can earn net profit, you need to achieve a strong gross profit margin.
Calculating Gross Profit Margin
Gross profit margin is the portion of your company’s sales retained as profit after you account for costs of […]
Many small businesses need high-quality office space, but with only a few people on the payroll, it’s often difficult to justify the cost of accommodation. This sometimes forces small and family-owned businesses to put up with unsuitable working spaces. Shared office accommodation is one solution that helps many small businesses work effectively. Find out how […]
Although there are still a few hardy souls that fill in their tax forms by hand and mail them in, the vast majority of self-preparers use one of the software or online based tax programs to calculate and e-file their income taxes each year. This is much easier than the old way of doing taxes, […]
As a small business owner, you may find certain aspects of your job glamorous. A speaking engagement, recognition by an industry heavyweight, a television appearance, etc. It’s a pretty safe bet that “bookkeeping” will never make that list. While it’s not sexy, a commitment to bookkeeping and a reputable bookkeeping service is an essential component […]
The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000(plus applicable federal and provincial sales taxes) for purchases after 2002. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business purposes.
The limit on deductible leasing costs remains at $800 per month(plus […]
A Calgary business owner cannot survive without adequate cash flow, even if it makes a profit at the end of the year. Almost 50 percent of small businesses are affected by occasional cash flow problems, while a further 20 percent have a continuing problem with cash flow, according to a report released by American Express […]
Should you launch your new business from your coffee table, or is your startup money better spent by renting office space somewhere in Calgary?
Working from home can be detrimental or beneficial to your budding business. It all depends on the type of business you plan on running, not to mention your lifestyle goals. Here are […]
Are you considering doing something special for your employees over Christmas? If so, pay attention to what you actually do as it could end up costing your employee money. Some typical Christmas gifts or bonuses need to be declared as taxable income by the employee.
First, here is a typical rule of thumb on what’s taxable […]
Every corporation incorporated under the Alberta Business Corporations Act, Small businesses to large corporations, are required to file an Annual Return to maintain their status as a legal entity.
NOTE: This is not to be confused with the Corporate Tax Return.
Annual Returns
Corporations must submit an Annual Return each year
The Annual Return contains information about […]
According to an Industry Canada study, the main reason small businesses fail is inexperienced management. About half of all businesses fail within their first five years. Fortunately, many of these failures are preventable. Here are some things that Calgary small business owners can do to turn a business around and save it from closure.
Finding the Problem
Find out […]
