Monthly Archives: July 2014

6 Costly Mistakes When Claiming Automobile Expenses In Canada

automobile expensesHow diligent are you when tracking your automobile expenses?

In the fast paced lives of entrepreneurs, it’s understandable that there are more important things to be concerned about then tracking those 7.2km runs to the post office. Unfortunately, this lack of attention to detail is causing some trouble for the few that are getting audited by the CRA (Canada Revenue Agency).

The good news is that CRA is starting to become more understanding to the fact that business owners and employees using their own vehicles for their employment are busy earning income for the company and, frankly, tracking kilometers… Continue reading

The Pros & Cons of Renting Vs Buying Real Estate

ID-100200138In uncertain economic times, it can be tough to know when and where is the right time to invest. When it comes to renting vs buying real estate, which is best? Kelowna accountant and real estate advisor Ken Davidson addresses the topic in this blog but the answer isn’t quite so simple.

Someone recently asked me how I thought the baby boomers were going to affect the real estate market. Although there is a difference between Canada and the US on this subject, I believe that we are coming up on a generation of renters, especially in the US and… Continue reading

Is “The Status Quo” Dangerous For Real Business Growth?

kelowna accountantKelowna accountant Ken Davidson discusses the difficult decision that faces business owners when they hit a good cycle in their business. Should you maintain the status quo or is it the best time to make progressive changes for the business?

When things are going really well in business, I mean really well, you achieve a certain comfort level. You’re probably making more money than you’ve ever made or maybe you even have more time for yourself than you’re used to. Things are feeling good.

What should you do now: maintain the status quo or make changes to hit the… Continue reading

5 Beliefs About Delegation That Destroy Your Ability To Delegate

ID-100262453Being an entrepreneur for a young, growing company requires you to be at all ends of the business to get that initial momentum. You might have to be sales, marketing, customer service and accounting all in one. This could work on the long-term depending on the nature of the business and your particular goals but if you want to hit that next point of growth, some changes need to be made.

When any business experiences enough growth, it will eventually reach the point where it can’t grow any longer until the owner can effectively delegate some of the tasks that… Continue reading

Why No One Can Tell You How To Invest $10,000

how to invest 10,000 dollarsInvesting is such a vast field that is so personal and I hate having to answer questions like, “How should I invest $10,000 dollars?” I simply can’t tell you what to do whether it’s $10,000 or $100. If someone tells you they know how to invest 10,000 for you, it’s probably because they’ve got something to sell. Good advice is hard to come by and sometimes even more difficult to discern when you don’t have an understanding of that end of the financial world.

When you’re working with an advisor and you’re trying to determine where to start investing, realize… Continue reading

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