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BC PST for Small Businesses: Registration, Filing & Exemptions
For Vancouver small businesses, understanding British Columbia’s Provincial Sales Tax (PST) is critical to staying compliant and avoiding costly penalties. Whether you are registering for PST, filing returns, or claiming exemptions, knowing the rules ensures smooth business operations. In this guide, we’ll cover what you need to know about PST registration in BC, how filing…
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When to Outsource Bookkeeping vs Hiring In-House
When to Outsource Bookkeeping vs Hiring In-House Managing accurate and timely financial records is a cornerstone of business success. As your small business in Vancouver grows, you may wonder whether to outsource bookkeeping or hire an in-house accountant. Both approaches offer unique advantages, and the right choice depends on your business goals, budget, and compliance…
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Why Quarterly Financial Reviews Matter for SMBs
Running a small or medium-sized business in Vancouver? Then quarterly financial reviews should be on your radar. These reviews not only provide a snapshot of your financial health but help keep your strategy aligned with business goals throughout the year. What Is a Quarterly Financial Review? A quarterly financial review is a scheduled analysis of…
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Understanding Retained Earnings: A Small Business Guide
Retained earnings are one of the most essential components of small business accounting. As a business owner in Vancouver, understanding how retained earnings work—and how to manage them—can make a major difference in your company’s long-term financial health. In this article, we’ll break down the basics and help you integrate smart practices into your operations.…
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How to Set Financial Goals for Your Business and Stick to Them
Setting clear financial goals is an essential part of business success. Whether you’re launching a startup or looking to scale your operations in Vancouver, financial planning provides the framework for sustainable growth. As a business owner, knowing how to set realistic financial goals and stay accountable is key to achieving long-term success. Why Financial Goals…
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How to Read a Balance Sheet: Tips for Business Owners
A balance sheet is one of the most important financial statements for any business. Whether you’re a startup founder or an established entrepreneur in Vancouver, understanding how to interpret a balance sheet is critical for making informed financial decisions. This guide will walk you through the basics of reading a balance sheet and help you…
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CRA Audit Triggers: What to Avoid in 2025
As a small business owner in Vancouver, understanding how to stay off the Canada Revenue Agency’s (CRA) audit radar in 2025 is essential for your financial stability and peace of mind. With the CRA increasing its scrutiny in key areas such as digital transactions, foreign income, and expense claims, it’s more important than ever to…
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Navigating Family-Owned Business Finances in Vancouver
Managing the finances of a family-owned business involves a delicate balance between maintaining professional standards and preserving family harmony. In Vancouver, where many small and mid-sized enterprises are run by families, it is critical to implement sound financial practices, clear succession planning, and effective communication strategies. This guide outlines how family businesses can thrive by…
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Creating a Business Budget That Actually Works: Step-by-Step Guide
Creating a realistic and actionable business budget is crucial for small business owners who want to thrive in Vancouver’s dynamic economy. Whether you’re launching a startup or refining the finances of an established company, budgeting helps you understand your cash flow, reduce financial stress, and meet long-term goals. Why Budgeting Matters For businesses of any…
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How CPAs Can Help With ESG Compliance Reporting in 2025
As Environmental, Social, and Governance (ESG) standards continue to influence regulatory frameworks in Canada and around the globe, Vancouver businesses are facing increased pressure to report on sustainability performance. For small and medium enterprises (SMEs), this can be a complex and time-consuming challenge. This is where Chartered Professional Accountants (CPAs) come in. By leveraging the…