Business Setup Tips | CorePro8

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Business Setup Tips
The Difference Between an Employee and a Contractor

When does a business owner know if they should hire an employee or a contractor?

There are so many decisions entrepreneurs must make on a daily basis. As a business starts to grow, one of the biggest decisions is whether to hire employees or contractors to help. The answer is not always a straightforward. However, if you understand the difference between the two and how Canada Revenue defines employees and contractors you will be able to make a good choice. 

On this week’s blog, we are here to help!  Let’s go through the rules of what determines the difference between an employee and a contractor so that you can make an informed choice and stay out of trouble with Canada Revenue. 

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Start a business in 2020

2020 New Years Resolution: The 3 Most Important Things to Do When Starting a Business 

Is Starting a Business in 2020 on Your Mind? 

The food was delicious and the quality time with friends and family was fantastic during the holiday season.  But something has been weighing heavily on your mind. Is it time to make starting a business in 2020 you New Year’s resolution?

Starting a business can give you a fresh start with extra cash flow and more time to spend with the family and doing what you love. 

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6 ways to start business with no cash

You’re Ready to Turn Your Idea in a Business

After a lot of research and development, or maybe a moment of clarity or divine inspiration, you finally have your great, money-making idea that you are ready to turn into your own business.  There’s just one problem: you have no capital, or, funds to get everything going. And as they say, it costs money to make money, right? So what can you do? Sell your family heirlooms and head to Vegas?  Put your faith in the lottery? Learn as much as you can about horse-racing?…

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Week4 Prebusiness expenses 1

We’re back with the final entry in our month-long series on pre-business startup expenses.  If you missed the previous entries, you can catch up by checking them out with these links:  Pre-business: Tools & Supples ; Pre-Business: Meals and Travel.

Today, we address the fees spent on incorporating or registering your business.

The great thing about having your own business is all those write-offs, right?  Not so fast!  Just a reminder, there are limits to what can be deducted, and you must always have the correct proof of purchase when submitting your expenses to Canada Revenue Agency (CRA).…

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tools and supplies

Tools and Supplies

We’re back with our third part in our four-week series on Pre-Business Expenses.  Just in case you missed the previous entries, you can catch up on Training Certificates and Coaches, and,  Pre-Business Meal and Travel.

Today, we tackle the important issue of having all of the tools and supplies you need to start, because these expenses can sneak up on you fast.

List of tools and supplies

Tools and Supplies.

This can be tricky because, as you already know, high expenses = lower profits.  Of course, you’ll spend more money to get your business going than you normally would so make sure you’ve planned for that.…

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