Small Business 101

There are few questions more shocking to an accountant than “Why do we need financial statements?”

While the answer depends on the individual situation, there are a few general principles at play.

Kris Sparrow, an Origami co-founder and CPA, explains what small business owners need to know about compensating themselves at different stages of their business.

This post helps to demystify the small business tax landscape. It gives you the information you need to stay compliant in terms of your business tax filings and payments.

CPAs provide 3 basic and increasingly valuable services to small business owners. Corporate tax returns are just the first.

One of the most common questions we get asked at Origami by prospective clients is, 'When should I incorporate?' Here's what we tell them.

You only have so much time, patience, and determination in any given day. Do you want to spend it learning bookkeeping or building a successful business?

You want to strike out on your own, but right now you have a job. Pay attention and learn as much as you can about how business works (and doesn't work) while you're there. Future you says thanks.

So you want to start a small business. Great! Actually, wait, not great. Give us a few minutes. We'll do our best to convince you not to.

At the end of the day, you have to ask yourself a simple question: was this expense paid primarily in an effort to earn business income? If the answer is yes, it is deductible, if the answer is no, it is not.

As the owner-manager of a Canadian small business corporation, you have two options when it comes to paying yourself: a dividend or a salary. We discuss the pros and cons of each option in this post.