Author Archive for: ashleykyle
Entries by Ashley Kyle
Balance Sheet Accounts – Part 2
The bottom half of the balance sheet will contain the liabilities information of the company. The liabilities are important to understand, as it will show how much money the company owes to various sources. Knowing what the company owes is an important aspect to cash flow. It will also help to cut down on surprises. […]
Balance Sheet Accounts – Part 1
Understanding reports that bookkeepers send will help owners gain a better knowledge of their business operations. Owners can use this information to advance their business and make smart decisions. This is the first blog post of 2, that will help a business owner understand the Balance Sheet. The top half of the Balance Sheet […]
Employee or Self-Employed?
Are you self-employed or an employee? It is important that you understand and define your working relationship from the start, as it can be a costly mistake to make. If you are an employer, who has wrongly assumed that you are working with a subcontractor, you will end up needing to provide the government with […]
Taxable Benefits
Employers often give their employees additional compensation and perks beyond their normal salaries. This can be an important aspect of employee morale. However, it is imperative that employers understands that these are taxable benefits. As with all employee compensation, the CRA has rules for these that you must follow. In previous blog posts we have […]
Job Creation Tax Cut
On Monday, July 1st, Bill 3 from the UCP came into effect. This bill is what they have called the Job Creation Tax Cut. You have probably heard about it on the news, and you may not be sure what exactly what this means for you as a business owner in Alberta. Small Business Tax […]
“Open for Business”
A couple weeks ago the UCP introduced a new bill, Bill 2 or the Open for Business Act. As a business owner, this bill will directly impact the way that you are required to pay your employees. The changes will take place on two different dates, June 26th and September 1st of this year. The […]
How to Save Money on Bookkeeping
Bookkeeping costs can add up quickly, and it doesn’t take long before it becomes overwhelming. This leads to business owners deciding that professional bookkeeping isn’t worth the cost. They may start looking for a bookkeeper on Kijiji who can do their books for cheap. However, like most things in life, you get what you […]
Dividends vs Payroll
If you are a shareholder in your business, you may have heard about going on the payroll vs. taking dividends. This post will not recommend one over the other, as that is a discussion that you need to have with your accountant. Every situation is unique and taking one or both, requires an intimate […]
Payroll Obligations to CRA
As your business starts to grow you may need additional help around the office or the shop. Hiring an employee comes with obligations to the government that surprises many small business owners. This post will address these obligations, and help you better understand what having an employee means for your business. As a disclaimer, […]