Monthly Archives: July 2013

Overcoming Personality Barriers Within Your Team

A good Kelowna accountant can help you grow your businessNo two people are exactly alike but there are a few categories we fall into that can help us understand how to function better within a team. Personality testing has become excellent for this and has really picked up a lot of steam in the corporate world in the past decade or so.

One thing that we’ve done with our team is that we put team members at different levels through some personality testing and one of those reports we use is called a Kolbe report. It’s basically a personality test and we even use it with some of our… Continue reading

Automobile Expenses The CRA Is Rejecting In 2013

automobile expensesAutomobile expenses are a common occurrence in business and some businesses have more than others. Revenue Canada is actually quite reasonable but you need to have your bases covered and play by the rules or it may end up costing you.

This year we have seen an increase in errors with automobile expenses that the CRA has been rejecting and with recent updates to tax laws it is likely time for a refresher.

Automobile Expenses As An Employee Expense

Since filing 2012 personal tax returns, Revenue Canada has been flagging people that are claiming automobile expenses as an employee expense.… Continue reading

3 Preventative Cures For Underperforming Employees

combating underperformanceJust like the doctor says, the best cure is always prevention. In my experience I find that most problems with employees comes down to issues with communication and misunderstanding their function within the organization.

Here are the top three cures for combating underperformance before it becomes a problem.

1. Have a Clear Job Description

One of the things we do here at BDO is we try to ensure our staff have a clear, defined role instead of various duties or tasks. We clearly define the scope of their employment because that is where we find people can fall down and… Continue reading

10 Vital Signs To Ensure The Health of Your Business

kelowna accountantIn today’s world, business owners face challenges and opportunities on a daily basis and as a Kelowna accountant, I’ve found that most entrepreneurs really need to just focus on their business. Sometimes it’s important to bring it back to the basics so I’ve laid out what I believe are the top 10 most important points when ensuring the health of your business.

1. Understand YOUR business

We talk about business owners that don’t understand their business and think it’s something else. You need to get to know what your business is, understand it and focus on it. Making sure that… Continue reading

8 Steps To Making Your Business Growth-Friendly

real estate investingThinking big is important but when your business is just getting started, it can be easy to forget to implement processes that will help you grow later on. Even if you’ve already been in business a while, it’s not too late to start making your business more growth-friendly.

Here are 8 ways to get you moving in the right direction:

1. Review your renumeration strategies

When discussing renumeration strategies we need to look at things such as whether dividends or salary should be paid and how your share structure is setup. Don’t just let your strategy follow what you did… Continue reading

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