Author Archives: The Titanium Team

Why you NEED to tell your accountant before you take money out of your corporation

right way to take money out of your business

There is a right way and a wrong way to take money out of your business.

The “wrong way” is to simply withdraw cash from your business bank account. It’s not wrong because it’s punishable by the Gods or the law enforcers, but it can result in a punishingly high tax bill. It can also …

When are your taxes due

taxes due dates

With the end of the Financial Year getting closer and closer, we elaborated a recap of when are your taxes due so you don’t miss any deadline!

Different dates apply for each category

Personal Taxes – In Canada, the deadline to file your personal tax return is April 30 of each year.  In 2023, April

Success Story: “It was liberating to hand all the accounting stuff over to Titanium”

Men in front of a car smiling - the smoke bloke

“Unless you are well-versed in accounting, it’s worth your investment to outsource it”.

This is what Mike Taylor of The Smoke Bloke recommends to other business owners who are struggling through doing the accounting themselves.

When we first met Mike he was running The Smoke Bloke on his own. He was the bloke, smoking. After …

How to successfully set up your small business

set up small business

Ready to take the plunge and start your own business? Here are ten steps to successfully set up your small business:

 

  1. Register your business with the province of Ontario. Google “register a business Ontario” – make sure to use the ontario.ca page
  2. Think about setting up your systems for future growth now. It’s easier to

How to pay less personal taxes

how to pay less tax

Are you ready to start to pay less personal taxes? Here’s a summarized guide on how to achieve that.

Maximize your deductions: CRA specifically allows certain deductions to reduce your taxable income and help you pay less tax. The most popular deductions are:

  • RRSP and pension contributions
  • Childcare expenses
  • Moving expenses
  • Spousal support payments
  • Employment

What do I need to know about setting up my first payroll for my small business?

close up a account working about financial with ca       utc scaled

Congratulations on hiring the first employee for your small business. It’s time to run your first payroll but where to start? Let’s talk about getting your new employee paid and how to fulfill your responsibilities as an employer. 

Here’s what you need to know to set up payroll for your small business:

  • As an employer,

How much debt is right for my business

woman managing the debt       utc scaled

A growing business is a business that is usually consuming cash flow. Rapid expansion means investments in development costs, marketing, inventory, and accounts receivable, the time between your investment and receiving the money from your customer can stretch out for months.

Large construction projects can take forever! Additionally, we want to match the cash flow

How to apply for a bank loan to expand your business

business growth concept       utc scaled

Business is great, customers are excited about your product but you need more capital to service all of your new accounts. It’s time to think about bank loans to expand your business.

What to consider when applying for a business loan to expand your business

Start early! Banks are going to want to see two

How to apply for your first bank loan

two businessmen at laptop are watching chart of th       utc scaled

As business owners, we invest our experience and capital to service our customers, pay our employees and return a profit on our investments.   Capital can come from the owner in the form of equity investments and also your first bank loan.

At a certain point, your business may need more investment to continue to grow.