Today’s topic is a great one! When you’re buying equipment of some sort for your business, you might be looking into both buying and leasing.Honestly, both can be great options… It really just depends on your business, what you’re looking for, and what kind of deal you can get on Read more…
So, you need to purchase something for your business. Maybe it’s some new equipment or a vehicle of some sort. Maybe it’s a building! You know what you need, but what you’re not sure of is how to go about deducing the expense for tax purposes. Do you write off Read more…
Last week we talked about emergency funds. Why you need one, when it should be used, and how much you should aim to have in it. This week, we’re taking it a step further. So you have an emergency fund or you’re in the process of building one… Where should Read more…
The Canadian government has announced new and continued business support programs. These supports are available for businesses that are continuing to be affected by the COVID-19 pandemic. Click here to read more about these supports. In this video we go over CERS (Canada Emergency Rent Subsidy), CEWS (Canada Emergency Wage Read more…
What should emergency funds be used for? How much should you save? Where should you keep the money? Emergency funds are important to have in case you’re ever without work. You should be able to live on your emergency fund for a few months to get back on your feet. Read more…
In this bonus episode, we are bringing in the big guns! Caitlin, VP of finance at TaxForce, joins Riley to talk about what income supports are available to individuals now that CERB has come to an end. She talks about what to do if you were collecting CERB but you Read more…
The topic you’ve all been waiting for… (Okay, at least some of you have been waiting for it!) On this week’s episode of ‘Teaching Riley’, Steve tells Riley all about how to know which debts to pay down first. Tons of good info in this one! Give it a watch Read more…
A quick bonus episode coming at you! We received a warning from the CRA that they are going to be sending out letters to taxpayers who claimed certain tax deductions in their returns. We want you to know, this does NOT mean you did something wrong so do not panic! Read more…
Happy hump day! You know what that means… Another episode of ‘Teaching Riley’ is live! Last week we talked about what counts as a business expense and what doesn’t. Great! So, now I figured I need to know how I should be tracking all of these expenses. This week Steve Read more…
When you’re running a business, it can get confusing to know which things count as write-offs and which things do not. Check out this week’s ‘Teaching Riley’ video to learn about business expenses. Spoiler alert: the short answer is “if you can prove that you needed to spend that money Read more…