Tax Planning Strategies for Business Owners | Pipeline Planning
How to Draw Money from Your Business There are several ways to draw money from your company, and they each have different consequences and advantages when it comes to tax planning and optimization. Drawing money from your company can be done through: Salary When you take a salary, the company manages your income tax deductions […]
Understanding and Increasing Your Personal Net Worth | Advice for Physicians
What is Personal Net Worth Your personal net worth is based on the value of all your assets minus the value of your liabilities. What would you have left after selling everything you own and then paying off your debts? That is your personal net worth, or PNW. Your assets may include cash and anything […]
2023 Canadian Federal and Alberta Tax Brackets and Rates
What Are Tax Brackets? The Canada Revenue Agency collects federal income taxes using a marginal tax rate system. A different tax rate is applicable to each level of income, and these levels are called tax brackets. Tax brackets are structured so that low-income Canadians pay a lower percentage in taxes than high-income Canadians. Changes are […]
Steps to Improve Business Profit
How to Improve Your Profit The first step to improving your business profit is accessing and understanding accurate, reliable historical financial information. With good information, you’ll have the knowledge you need to make better strategic decisions. The next steps to improving your business profit include: Identifying cash flow trends for an understanding of the activities […]
How to Determine Your Personal Net Worth
When you determine what your personal net worth is, you can make strategic choices to plan for the future and improve that value. Understanding your personal net worth will help guide how you approach personal investment decisions, the potential sale of your business, retirement planning, or major purchases. You should consider obtaining a PNW statement […]
What is Your Business Worth? Know the Value of Your Business
Are you considering the sale of your business? Do you want a better understanding of your financial health and how it can be improved? Benefit from completing a business value assessment that provides information about the economic value of your business. Knowing the value of your business will help you make key decisions about the […]
How To Improve Your Profit
Do you want to grow your business’s revenue and profit as well as your personal wealth? If so, you will benefit from ONSight Advisory’s Improve Your Profit service to help you identify changes you can implement to maximize the financial health of your business. Improve Your Profit with ONSight Advisory This service is right for […]
The Top 3 Things You Need to Know from the 2022 Federal Budget in Canada
Summary of the 2022 Federal Budget Canada released the 2022 federal budget on April 7, 2022. As in past years, the focus of this year’s budget is on building a stronger, more resilient economy leading to long-term fiscal sustainability, and to reduce the federal debt-to-GDP ratio to pre-pandemic levels. The 2022 federal budget also aims […]
Edmonton Economic Action Plan Grant
The Economic Action Plan Grant by the City of Edmonton is meant to help create a more resilient, diverse, and equitable local economy through matching reimbursement grants of up to $25,000 for projects and programs that support the outcomes of the Economic Action Plan. The Economic Action Plan aims to create jobs, attract investment, and […]
Supply Chain Relief Financing
BDC is now offering Supply Chain Relief Financing of between $100K-$500K for businesses affected by supply chain issues. This funding helps cover operational cash flow needs related to supply chain disruptions. Features of this funding include: Up to 12 months for principal payment postponement No penalty for repaying your loan early Financing can be […]