Blog

Thoughts and ideas from Leonard tam

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    Dispelling common myths about your taxes
    November 7, 2019 at 5:00 AM
    When you own a business, you'll already understand how challenging sales tax can be. At Leonard Tam, many of our clients come to us querying some...
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    Challenges for Women and How to Beat Them
    October 28, 2019 at 4:30 AM
    IntroductionIn the recent past, women-owned businesses have enjoyed a success rate well above the national average. The percentage of women-owned busi...
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    TIPS ON RESTAURANT PROMOTIONS
    October 7, 2019 at 4:30 AM
    Innovative restaurant promotions can enhance customer-client relations and see a welcome return to your business. Creativity is the guide for endless ...
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    Key signs you need a financial consulting service for your small business
    October 3, 2019 at 12:00 AM
    Running a small business is an exhilarating experience. While you're trying to make your way in the corporate world, you'll find yourself fa...
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    Let Age be an Asset to Your New Business Venture
    September 30, 2019 at 11:00 AM
    Let maturity be a prime asset to your starting a new business. While some young entrepreneurs like Mark Zuckerberg are enormously successful, older en...
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    COMMON ERRORS TO BE AVOIDED BY SMALL BUSINESSES WHEN FILING TAXES
    September 16, 2019 at 3:00 AM
    Filing and paying taxes for small businesses is a legal responsibility and not a pleasure. Business owners should be aware of preparing for the deadli...
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    Industry Challenges for Small Business Owners
    September 4, 2019 at 12:00 AM
    Small businesses face unique industry challenges daily. Along with processing payroll, small business owners take on dozens of other responsibilities ...
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    How to Avoid a Small Business Audit
    August 19, 2019 at 8:00 AM
    10 Red Flags No one wants an audit for either personal or business taxes from the Canada Revenue Agency (CRA).Business audits, particularly, are to be...
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    Personal Tax Returns vs. Business Tax Returns
    August 12, 2019 at 12:00 AM
    When it comes time to file your annual tax return with the CRA, you'll notice there are lots of similarities between personal tax returns and bus...
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    BE A SUCCESS IN YOUR OWN CONTRACTING BUSINESS
    July 22, 2019 at 3:00 AM
    INDEPENDENCESo many people are lured by the promise of independence and its advantages in owning an independent business. Of course, such a step mig...
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    Independent Business Owner Income: Salary or Dividends?
    July 15, 2019 at 2:30 AM
    You have the choice of one or the other, or a mixed income.From the basis of a registered business corporation, you must decide how to pay yourself: a...
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    So, You Want to Go into Business with Friends and Family: Consider these points
    July 8, 2019 at 2:30 AM
    You are confident of your relationship with your brother-in-law, high school buddy or the maid-of-honor in your wedding party. Looking for a new busin...
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    4 Essential Tips on Understanding Business Sales Tax Obligations
    July 2, 2019 at 12:00 AM
    No matter where you run a business in Canada, if you sell a product you have the obligation to collect sales tax. Ignoring that crucial step in doing ...
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    What Everyone Wants to Know about Late Taxes in Canada (2019)
    July 1, 2019 at 2:30 AM
       First, we all know that we must be responsible for filing our returns on time to the Canada Revenue Agency, for we all must be accountabl...
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     How to Avoid Burnout and Take Your Life Back 
    June 24, 2019 at 2:30 AM
       10 Simple Ways to Health and Sanity Industry, business and finance have become so demanding in our work lives that everyone is feeling en...
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    Starting a business — the Right and Wrong Reasons
    June 17, 2019 at 2:30 AM
    Taking the leap to start a new business venture is not a decision to be taken lightly. Most people fail to ask themselves the difficult questions befo...
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    4 Reasons Small Business Owners Need to Outsource Their Bookkeeping
    June 13, 2019 at 12:00 AM
    Finding someone to balance your books isn’t just about taking some of the workload off your shoulders. Professional bookkeeping services ensure you st...
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    Four Tips to Effective Marketing
    June 10, 2019 at 7:30 PM
    Marketing makes the success or failure of a product. Marketing principles are tried and true, developed for decades by scientific research; there is n...
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    How to Minimize Your Risks of Being Audited?
    May 12, 2019 at 7:30 AM
    The last thing you need is a letter from Canada Revenue Agency informing you that you are being audited. In the year 2017, more than 35,000 of such le...
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    Top 5 Questions to Ask Before Business Start
    May 1, 2019 at 5:30 AM
    It's exciting to start a business... And that's scary. One of the best ways to boost the excitement and shrink the fear is to take the time to ensure ...
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    Everything You Need to Know about Working with Leonard Tam 
    April 29, 2019 at 12:00 AM
    At Leonard Tam, we specialize in helping small business owners with their financial needs. What exactly does that mean for you? Here are the answers t...
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    No Receipts, No Deduction… Unless...???
    April 22, 2019 at 6:30 PM
    How can you Declare Expenses in Income Tax without showing receipts!! Receipts work as evidence for our business expenses and the Canada Revenue Agenc...
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    A Look at the Services We Offer at Leonard Tam
    April 1, 2019 at 12:00 AM
    When it comes to sales tax returns and small business consulting, you don't want to go it alone. Instead, you want the guidance of an experienced cons...
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    Introduction to Leonard Tam 
    February 26, 2019 at 12:00 AM
      Tax law can be incredibly complicated, especially for businesses. The last thing you want is to file your taxes with errors in them. In doing y...