Streamlining your operations can go a long way to saving you money.
At KWB, we will help you review your day-to-day operations through direct observation and by analyzing your financial information, and will identify areas for savings and tax minimization. We provide services such as budgeting, “what if”scenario planning, cash flow management, and business coaching, that will help you get your business running more efficiently.
Using your year-end statements, as well as other information you provide us throughout the year, we help identify areas in which you can make changes to improve your operations. We can help you determine if you’re spending more than you thought, have room to cut expenses, or what the impact from increasing revenue will be. We make our recommendations based on personal consultations with you, a review of your books, and the use of business modelling tools. This will give you the direction you need to improve your cash flow and profit.
Blog posts about Improving Your Operations
Borrowing Best Practices
You may not always understand what your banker is seeing or what they are asking for, but the good news is that both your banker and you want to see the business succeed. Here is more info on the 9 simple things that will help you become a more successful borrower.
What can a Quickbooks ProAdvisor offer you?
There are many benefits that KWB receives as a member of the Quickbooks ProAdvisor program and can pass along to you. Read about what they are, including some potential cost savings for you.
Remote Accounting Support
Would you like to have a KWB staff person work directly on your accounting system at a time that is convenient for you? Or to help you figure out why your accounts aren’t balancing or why your accounting software has crashed? KWB is here to help! Learn more about our remote accounting support.
Save Money with a Health Plan
Save Money with a Health Plan
How can you save $100’s and maybe $1,000’s in taxes in one simple step? Are you an employee of your own company and do you have significant medical expenses each year of $2,000 or more not covered by a health plan? Then creating a “Private Health Services Plan” (PHSP) as soon as possible could save you big dollars.
Employment Insurance For Related People
Employers are required by law to deduct Employment Insurance (EI) premiums from all insurable earnings paid to their employees who are engaged in insurable employment.
If an employer is unsure whether or not an employee is engaged in insurable employment, the employer can request a ruling from the CRA. A letter or completed form
What if you knew the impact of an important decision before you made it? Could you and your business benefit from this “what if” strategic planning?
You would be able to look at the potential outcome and financial impact of business decisions before they are made. At KWB we use software called CCH Profit Driver
Online Backups - Keeping it simple
Do you know someone who has lost critical and precious information that was stored on their computer?
Are there things on your computer that you don’t want to lose such as financial or business records or personal information like family photos? We live in a digital world and we don’t have hard copies of anything
CCH Profit Driver
At KWB we use software called CCH Profit Driver that can turn historical financial data into tactical plans.
For example we can create scenarios that would help you optimize operational efficiencies, improve cash flow and demonstrate possible outcomes. CCH Profit Driver is really a "what if ..." planning tool. How would you like to know
Quickbooks Online - Free For Clients of KWB
QuickBooks Online (QBO) is a cloud based version of the traditional QuickBooks desktop accounting software that offers some great features and accessibility not available from the desktop environment. Cloud basically means it resides on and is accessible through the internet.
We like it so much that we approached Intuit about partnering with us and effective
Apprentice Tax Credit
If you have apprentices working for you, then you should be taking advantage of the apprenticeship job creation tax credit. (Apprentice Tax Credit)
An investment tax credit can be claimed on eligible salaries paid to eligible apprentices. The credit is equivalent to 10% of salaries and wages paid to that individual, to a maximum of
Switching to Quickbooks Online (QBO)
Considering making the switch from QuickBooks Desktop to QuickBooks Online (QBO)?
Here are a few reasons why QBO might be the right choice for you.
If you are currently using the Desktop version of QuickBooks, you need to be aware that QBO is not the same program and doesn’t really look anything like the Desktop product
Are you unable to make good decisions because your financial information is inaccurate or not provided to you on a timely basis?
KWB Chartered Accountants offers bookkeeping and similar services. With timely and accurate information we can help you address your issues and make better decisions as a result.
These are definitely tough times, and
Are you looking for information to help you make good decisions? Are you unsure of what's happening financially in your business?
You need timely, accurate and complete financial information and the people who can figure out what it all means in order to survive in today's economy. Controllers should basically pay for themselves. The cost savings you
You may not be aware that you or your business are required to remit quarterly or monthly tax instalments to CRA. And it is likely that if the instalments are not made, you will be charged interest and penalties
Goods and services tax instalments
You are required to pay GST instalments if your net tax
Online tools from the CRA and Service Canada
Here are some great tools on the CRA website to help in day to day activities that I personally use.
1) Payroll Deduction Online Calculator
Use the Payroll Deductions Online Calculator (PDOC) to calculate federal, provincial (except for Quebec), and territorial payroll deductions. It will confirm or allow you to calculate the deductions you include
Corporate expenses - What can you deduct?
Often deductible business expenses are overlooked or missed as business owners are unsure whether they are deductible.
A business expense is any cost incurred by the company to generate income. These expenses must be supported by physical documents such as invoices, purchase contracts, sales receipt, etc. If cash is used to purchase items, it is
We are often asked, “Should I own my vehicle in my company or personally?” The following facts can help us determine the answer to the question of vehicle ownership:
1) How many kms will you drive it for business purposes?
2) How many kms will you drive it for personal purposes?
3) What is
Year End Tax Tips
There are a number of perfectly valid actions you may still be able to take before the end of the year to cut your taxes and to optimize your wealth management planning.
As tax planning specialists, we at KWB can help you decide exactly what to do, when to do it, and what not to
What will interest rates do in 2015
When it comes to interest rates here in Canada and around the world, the only thing we know is that we don’t know.
For the past 4 years economists around the world have expected interest rates to increase and not go lower.
What we do know is that Stephen Poloz, the Governor of the Bank
Fraud from mobile banking deposits
Technology is constantly evolving and many commercial banks are using the latest technology advances. Some of these include mobile banking, electronic payments and mobile cheque deposits or Mobile Remote Deposit Capture (MRDC).
We have all seen the commercials showing us how easy it is to deposit a cheque by taking a picture of it with
EI, OAS and CPP Rulings
Employment and Social Development Canada (“ESDC”) is responsible for EI, OAS and CPP rulings, not Canada Revenue Agency.
On April 1, 2013, the Social Security Tribunal (“SST”), an independent administrative tribunal operating at arm’s length from ESDC, was introduced to review appeals on EI, OAS and CPP rulings made by the ESDC.
The process to