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Outsourced Forever

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I found a fascinating read: it’s a Forbes article by Stephen Denning called “Why Amazon can’t make the Kindle in the USA.” Denning looks at the impact of outsourcing on the creation of next generation businesses. He quotes some interesting stats. Only 2.7% of US consumer spending in 2010 went to goods and services “Made [...]

Tax Planning for the Ontario “Wealth” Tax

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We’ve heard a lot from the “99 per cent” over the last year. But a few months ago, Ontario’s government passed a bill aimed at the other “1 per cent.” On June 12, Queen’s Park approved a 2% tax increase on those who have a taxable income over $500,000. This increase will be implemented gradually. [...]

When Home Renovation Costs Can Be Medical Expenses

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If you or someone in your family has physical development challenges or a severe or prolonged mobility issue, accessibility changes to your home could save you on your taxes. Certain modifications are eligible for the medical expense tax credit (METC). The METC is worth the same as a deduction in the lowest tax bracket—which is [...]

Small Business Succession Planning Models

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We’ve looked at the number of entrepreneurs who aren’t prepared for the day they can no longer run their business. We’ve looked at why it’s so important to be prepared. Now it’s time to help. Business succession planning model What can small business owners do to guarantee they have enough to retire? With years of [...]

Small Business Succession Planning

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As a small business accounting firm, we at Silver+Goren deal with the entrepreneur crowd frequently, so we talk a lot about building a strong foundation and plan for your business. But what’s your plan when it’s time to retire? If you have no clue … unfortunately, you’re not alone. The numbers behind succession planning A [...]

10 Reasons Why Your Family Business May Fail

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At Silver+Goren, we often take a closer look at why so many new businesses fail. A recent Globe and Mail article zeroes in on a smaller category – here’s their list of 10 reasons family businesses fail: Poor succession planning. Without an appropriate plan and road maps, failure is inevitable. Lack of trusted advisors. Advisors [...]