If you have been in the workforce for years, you might have had to deal with a reduction in pay. Sometimes, employers will justify cutting an employee’s pay rate by using that cut to avoid layoffs. But, on other occasions, a boss might not provide any explanation at...
Companies often change their practices for various reasons. Whether the business needs to scale operations to adjust for business growth or implement practices to accommodate new services, changes within a company are almost inevitable. Unfortunately, some business...
Starting a new business is an exciting venture. Unfortunately, many small business owners fail soon after they begin due to making common business mistakes. Having a solid business idea for a product or service does not matter if business owners do not avoid certain...
It’s no secret that independent contractors make more money than company employees in Canada. But why? Most employers prefer to hire an independent contractor because it means less paperwork and no payroll. Employers are also off the hook for employee benefits...
As a business owner, understanding Canadian small business payroll rules and federal laws can be challenging. However, following the often complex payroll rules is a must to ensure that your employees receive their wages on schedule and avoid paying costly penalties...
Do you live in Canada and have dependants? Don’t forget to claim your tax deduction. Most Canadians know that spouses and children qualify as dependants with the CRA (Canada Revenue Agency). Did you know, however, that under certain circumstances other family members,...
When company leaders plan to promote their business, they usually think in terms of marketing and advertising. However, regularly networking with other companies is another essential — and often misunderstood — part of gaining a place in the industry. How does...
As a small business owner, you are responsible for making several important decisions every day. From day-to-day operations to adding team members, you must consider a variety of components when running a business. When it comes to your team members, it is...
Discover whether you can claim business expenses on your tax forms even if your business did not generate any income last year. For Canadians with one source of employment income, tax laws, forms, and procedures seem relatively straightforward. However, once you own a...
RRSPs are one of the best options for Canadians looking to invest in their future. However, just like any other retirement savings plan, it’s vital to understand the RRSP pros and cons before deciding if it’s the right option for your financial situation. Table...
