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January 2023 Issue

Our Monthly Newsletter to keep you updated with the latest in the

world of Canadian Business, Tax, Economy and More!

From Think’s Blog

What is Profit First Method?

…does it make sense for your business and how to implement.

Learn More

Ontario Staycation Tax Credit

…what can you claim? how much can you claim? how do you claim?

Learn More

Foreign Tax Credits In Canada

…what are they? Are you eligible? How do you claim them?

Learn More

Canada’s Business Benefits Finder

…a really neat tool to search for grants and subsidies from the government!

(Link to tool used in the video)

From The Web

Tax changes to watch for in 2023

What Changing Interest Rates Mean for Small Business Owners

Canada’s Digital Adoption Program Could Get You Up To $20,000 funding

Burlington business owner sentenced to 36 months in jail for tax fraud

Book Recommendation

The E-Myth Revisited

One of the must-read for business owners!

So many gems in this book:

• Just because you know the technical work of the business, does not mean you know what it means to be a business owner

• Define the 3 roles in your business well - The Entrepreneur, The Manager and The Technician

• Work On Your Business, Not In Your Business

• Your Product is not your Product. Your Business is your Product.

• Ultimately, your business should work for you and not the other way round.

Read Summary

Parting Thoughts

Next month, we’re officially in “Tax Season”! Watch out for our 2022 Personal Tax Checklist that will be emailed to you sometime around mid-Feb.

P.S. - want to get a better handle on your profitability, cash flow and tax planning? Find out more about our Virtual CFO Services on this link.

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