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Things to consider when you start your business

on Mon, 12/24/2012 - 18:00

"Entrepreneurship and Small Business" series, #3 (#2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business; #4 How to manage your business; #5 How to pay yourself effectively; #6 The advantage of a business account; #7 Business budget made easy; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class)

You might have a great idea but running your own business is often more complex than you think.

Release of "What to look out for when running your own business" video

on Sat, 11/10/2012 - 15:33

After a few weeks of compliance reviews and busy schedule, we have finally got the video on the Power Expo done. For more info on TruFinancial at Power Expo, please visit my blog.

 

"What to look out for when running your own business" workshop

 
SUMMARY
 
There are several important factors to consider beforehand, when starting your own business venture, and this Workshop will provide the necessary steps on:
- how to be prepared for your start up
- how to decide whether to be 'Incorporated' or not
- how to get funding for your venture
- how to pay yourself in a tax efficient way
- who to

What is my CPP going to look like?

on Fri, 01/27/2012 - 16:31

I have been asked quite a few times in the last 2 weeks regarding how to get information on personal CPP... So I decided to put up a blog post on it :)

Some people might ask, I am nowhere close to retirement, why do I want the information on my CPP? Why do I care? Yes, you do... Retirement planning is a long term strategy, you definitely don't want to look into that until you are 2 years away from your retirement.

Building small business owner's new family

on Mon, 11/28/2011 - 09:51

You know how small business owners usually report very low income, so that they can pay lower tax...

Here is my experience on a small business owner that I want to share:
 
I met this small business owner in 2005 and he owns restaurants in Toronto, normally he has about $5000 income from the business for his daily expenses, and any retain earnings is used to set up the next restaurant. 
 
However, he reported only about 12k income for himself and his wife. They rented a house in Scarborough at the time. 
 
We started to look into his finances and of course he has no problem meeting his

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