CPA Strategic Solutions

Thinking about running a Virtual Workshop for Canadians Operating in the US and Save Them Hundreds Monthly. It's $47 - You in?Thinking about running a Virtual Workshop for Canadians Operating in the US and Save Them Hundreds Monthly. It's $47 - You in?

Calling all my business owners and #entrepreneurs, We live in interesting times, don't we, my friends? And by interesting I mean like it's "interesting" when you're sailing and a storm comes up and blows you totally off course.... When you run your own business it's easy to feel at the mercy of the outside world. But what if you could gain skills that bring clarity to your #financial world - teaching you to make #strategic decisions without being blindsided. I am working on something new.. and it's only open to 10 people. If you are ready to storm-proof your business for less than your daily Starbucks run, send me a message. This group will close in 10 days so don't drag your feet!

Calling all my business owners and #entrepreneurs, We live in interesting times, dont we, my friends? And by interesting I mean like its "interesting" when youre sailing and a storm comes up and blows you totally off course.... When you run your own business its easy to feel at the mercy of the outside world. But what if you could gain skills that bring clarity to your #financial world - teaching you to make #strategic decisions without being blindsided. I am working on something new.. and its only open to 10 people. If you are ready to storm-proof your business for less than your daily Starbucks run, send me a message. This group will close in 10 days so dont drag your feet!

Thinking of a big purchase ?

For those of you who were asking me for information on the Canada Emergency Response Benefit (CREB) - please click on the attached link Eligibility The benefit will be available to workers: Residing in Canada, who are at least 15 years old;... Who have stopped working because of COVID-19 and have not voluntarily quit their job; Who had income of at least $5,000 in 2019 or in the 12 months prior to the date of their application; and Who are or expect to be without employment or self-employment income for at least 14 consecutive days in the initial four-week period. For subsequent benefit periods, they expect to have no employment income. The Benefit is only available to individuals who stopped work as a result of reasons related to #COVID-19. If you are looking for a job but havent stopped working because of COVID-19, you are not eligible for the Benefit. Stay Safe!

Calling out ALL Canadian & US Business Owners (individuals this can help you out as well) #Budgeting & cash flow is More important now than ever as we cannot predict how long we will be impacted by #CovID. Panicking has never helped anyone so please dont make drastic decisions! Do NOT lay-off employees & staff as a first measure without checking with the employment act/employment lawyer as this can cost you more in damages) ... - list all your expenses & ask your major vendors/suppliers for flexibility - list all your credit product, if you dont have any ten apply for a line of credit - see what government assistance program and subsidies are available for you & your staff - if your #business is not generating revenue (now maybe a time to work on things that help generate future revenue but spending 4-5 figures on a marketing plan will most likely NOT help you if it involves people physically coming in) - offer existing clients a discount on FUTURE purchases And/or payment plan (it needs to be a win/win for both sides - do not be selfish- can hurt your business more) End result, there should be more cash coming in then going out! Once business is back to normal - getting 3-6 months of expenses saved will be your first goal! Stay inside!

Are you looking for clarity this RRSP Season? See post below or even reach out and I will guide you through :)

Small business owners need access to all the capital they can get. Sometimes, investors fill the void, but in many cases, entrepreneurs must find funding on their own. Small business loans and credit cards provide freedom and flexibility to pursue short windows of opportunity and keep young companies afloat. Especially at the early stages, your credit could be the difference between surviving the first few years!

Happy Monday! #Sales should be simple, after all it is sharing your product and service with others As an #entrepreneur or #businessowner - we come across many coaching programs or even done for you marketing.... Just got off the phone with another business owner who was going to commit to ~$45,000 in a done for you marketing program which shows you how to get clients and various marketing strategies with no guarantees of course. Now lets say this program resulted in $90,000 (for that business owner realistically he was thinking best case $65,000) - you have now got an additional $45,000 and your money back. In this service industry, that is approximately 15 clients, with approximately 2700 hours of work per year. So $17/hour for the first year before other expenses and that does not factor in the time spent to acquire the client. Did you make your moneyback? - yes Will you be satisfied with how the business went the first year? Most likely not, because you spent almost 800 hours more which is ~ 35% more than you would have at a full-time job. Ask yourself; would you want to be in that situation?

#New Year, New me or same me - #FinancialFridays If improving your #finances; was part of your New Years Resolution; what was the action steps you planned to take?... Do you have a #budget? Whether its for your #personal or #business - a budget is crucial! Dont have one - drop a comment below if interested and will send you one

Productivity and Profitability Can you have one without the other? Interesting read on the impact of a shortening workday hours

Wishing you all a healthy and prosperous new year; Happy New Year!

Merry Christmas! Wishing you and your family a safe and happy holidays!

Some quick updates on what to keep in mind for 2020 finances.

#TaxTuesdays With the year-end just a week away, many #businesses and #entrepreneurs are looking to REDUCE their Tax Bill by increasing their #expenses. Now spending or buying things you need before the tax year-end does have its benefits but does the benefits outweigh the actual Cash Outflow? ie spending $1 to save $0.40.... Bonuses - increases expenses, but also has a #positive impact to show appreciation for their work. PS: the paying out of bonuses especially for owners can be pushed out to 6 months from the tax year end even though the expenses are incurred at the year-end. There are many more examples - drop a comment if theres a scenario you would like to take advantage of but unsure of.

At what point, is good debt no longer good? Is there a specific interest rate when it no longer becomes good? Do you have a personal budget set? If you dont, drop a comment here and I will share with you a personal budget template which will help you get your finances right for 2020!

Happy Monday! If your New Year Resolution is to get better with your finances, the first thing to do is KNOW where your money is going and on what! Rather than wait for Jan 1st, get your finances in check now and here are 4 ways to help you (there are many others, I use Mint for my personal finances and Excel to keep track of any upcoming bill payments (most fixed payments are automated)

Happy Friday! I am sure everybodys inbox and even social media is flooded with Black Friday offers and promotions. Now, as great as some of these deals are - we need to ask ourselves is this a want or a need! ... In my younger days, I came across great bargain deals but I never made the most of it because I may have liked it at the time but it wasnt something I needed or was waiting to wear which I didnt like or fit as well. *** Most stores do offer exchanges but some may not allow for refunds - If youre shopping online the above is even more important.

Buy now vs Save More: Assume a house you like is $800,000 today and you have $140,000 but want to have another $20,000 to reach the 20% amount to save on CMHC By the time you have saved $20k, housing prices increased by 5% and that same house is worth $840,000.... Now you will need to save an additional $8k; Emotions at this point will cause you to buy the house now as it costs $40k+ and not even worry about CMHC or any other costs as you will feel that it will go up again. Now the above situation doesnt include ability for gift money from family, and a housing market that is growing. There are quantitative and qualitative factors that need to be looked at for every life decision especially Major ones such as car, house, retirement planning.

Happy Monday! Whether youre in Canada or The United States; employee, contractor or a business owner - everyone needs to do a financial tax plan! One of the most common tax tool is the RRSP/401K... Defer - Money you make today can either be taxed at todays marginal rate or deferred to when you need it via RRSP. How would you decide whether you should contribute to RRSP and lower your marginal tax or just pay the tax? What if I told you that RRSP is not the best way for majority of business owners. Based on conversations with over 200+ businesses and entrepreneurs this year, over 90% do NOT have a comprehensive financial tax plan done that reviews the following: - personal - business - investments - retirement Some may have looked at a few of the above but usually not all together. Interested in learning more, then please feel free to reach out and schedule a free 30 minute strategy session and head into the new year and decade with more financial clarity than ever before! #taxplanning #accounting #taxes #canadian #smallbusiness #finance #economy #budgeting #financialplanning #financialfreedom #personalfinance #business #money #planning #decisionmaking #unitedstates

Happy Friday! What are some items/things you think are worth splurging on? How about the types of vacation? All inclusive? ... Do you have a budget or save for certain wants in life such as a vacation?

With the holiday season upon us.. are you looking to cut back on some expenses or did you plan ahead and save throughout the year? If you were not able to save throughout the year for winter-related expenses then for 2020 lets have you saving and allocating your finances accordingly. First step is to track where your funds are being used. Download mint.com and it will help keep track of everything in one spot and its free and secure!

Do you talk about finances with your friends?

https://www.linkedin.com//jsoosaipillai_the-toughest-part-

Are you overpaying or underpaying in taxes? What measures do you have in place to optimize your finances? https://apple.news/AmWB1rrvtTYqkI1_QlLhpkA

Filing all the necessary tax forms? https://apple.news/A1QAzBRkZQOmoYiKXRdy0JQ

File now or file later https://www.tangerine.ca//why-i-m-filing-my-taxes-early-th

RRSP deadline is almost here; but do you know how much you owe for your 2018 Taxes yet? If you are self-employed; do you have your taxable amount ready to go or are you scrambling to get it together? As a business owner; did you optimize your companys cash flow? ... With tax season upon us; what worked last Tax Season may not work this time!

Having the right system(s) in place will make it a lot difficult for this to happen anyone including businesses. Dont wish it on anyone and very sad that it has happened and continues to happen - lets learn from it https://www.cbc.ca//senior-wires-life-savings-through-td-b ... https://www.cbc.ca///toronto/online-fraud-450000-1.4025651

We wish you a Merry Christmas and a Happy Holidays!

67% of NEW Businesses Fail within 2 years BOOK NOW to be part of the 33%

With 2019 just a few weeks under way; has your business and company been following the budget setup for the year? Setting up a budget is one thing but without the right qualitative and quantitative factors taken into consideration; it could have your business reacting rather than being pro-active. Learn how you can take control of your Finances and save Thousands of Dollars and unnecessary headaches! #finance #financialfreedom #financialplanning #2019 #budgeting #accounting #business #taxplanning #taxes #money

Will you be able to take advantage of these tips; are you getting back the MOST return from your investment(s)? Did you set your investment up in the BEST way for your OWN goals. https://business.financialpost.com//ten-year-end-tax-plann

The classic TFSA question - when should you contribute/invest? Simple answer; it depends on your short and long term goals. How and what you invest in matters and with a financial planner you will be able to identify if it is right for you and your family. ... https://business.financialpost.com//the-tfsa-limit-is-risi