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Small Business Continuity and Disaster Preparedness

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Last updated: Jun. 26, 2013 
As our friends and family in Alberta continue down the long road to recovery from the floods, we thought it a good time to share some thoughts on business continuity and disaster preparedness. Ensure your small business is prepared to handle a disaster. This article is a refresh on a piece … Read more

Our Sympathy to Those Affected by Flooding in Alberta

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Last updated: Jun. 24, 2013 
Our sincere sympathy goes out to the victims of flooding across Calgary and area. We’re all very saddened by the loss of life and enormous damage caused by the recent floods.  With our head office in Calgary the flood has also affected many of our staff. FBC Members are encouraged to contact … Read more

Should I Incorporate My Canadian Small Business?

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Last updated: Jun. 12, 2013 
You have your business up and running, perhaps as a sole proprietorship or a partnership and are now seeing some growth and profit. You may be wondering if you should now incorporate your business. Advantages and Disadvantages of Various
Business Structures The following is a list of possible advantages and … Read more

7 Tips for Surviving a CRA Audit

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Last updated: Jun. 5, 2013 
More and more businesses are facing a CRA audit these days. Canada Revenue Agency (CRA) has especially ramped up audits of small- to medium-sized enterprises. Knowing how CRA selects taxpayers for audit, as well as what to expect during an audit, could make you better prepared if you’re singled out. Audits are … Read more

Providing Accounting and Tax Services to Canadians

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Last updated: May. 30, 2013 
Making Life Less Taxing for 60 Years and Counting It all started 60 years ago. It was the early 1950s and for the first time in Canadian history farmers were subject to income tax. Luckily for farmers a man named Sam Ibbotson had created a solution for farmers in need of … Read more

Fix your Tax Return or Face a CRA Audit

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Last updated: May. 27, 2013 
Tax returns that contain errors or omissions, accidental or intentional, are not uncommon. If you catch such an error on your tax return, it might be tempting to ignore it, especially if it’s in your favour. Don’t! Simply hoping that the Canada Revenue Agency (CRA) doesn’t find out is not a … Read more

Travel Tax Deduction Rules For Your Business

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Last updated: May. 23, 2013 
As the controversy surrounding certain senators’ expenses swirls in Ottawa, what better to time than now to post a reminder of the rules regarding claiming travel expenses as a tax deduction. For those operating sole proprietorships or partnerships, you can deduct travel expenses you incur to earn business income. Travel expenses … Read more

Creativity Beyond iPads: Apple and Tax Evasion

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Last updated: May. 22, 2013 
Apple is renowned worldwide for its creativity. Think iPad. Think iPhone. Think iMac. The list goes on. In fact, Think Different was the company ad slogan in the 90s. Today, however, a different sort of creativity has put Apple in the headlines. Let’s call it creative tax accounting. At the crux … Read more

Ask the Experts: Getting Started with Bookkeeping

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Last updated: May. 15, 2013 
In part two of a two-part series, we offer tips on how to get started with your company’s bookkeeping. Previously, in part one, we outlined reasons why bookkeeping is important for your business. So, let’s get going. What do you need to know to get up and running with your company bookkeeping? … Read more