13 Time Saving Tips for Business Owners
We’ve all heard the age old adage ‘time is money’, and although it may sound like a bit of a cliché, there’s also truth to it. As a business owner, saving time can help you pursue new opportunities, ensure your customers are satisfied, as well as get some well deserved rest to avoid burnout. If […]
How to Sell Your Business in Canada
Are you looking to sell your business in Canada? There are several things you need to consider and steps you need to take as you work towards selling your business. If you’re looking to sell your business in Canada, it’s important that you’re financially and mentally prepared to have someone else take over what you’ve […]
Essential Elements of a Business Plan for 2023
Your business plan is a blueprint for your success. Whether you’re a new business just starting out, or you’re veterans in the industry and just want a refresh, it’s important to have a well thought out plan for your goals and success metrics. Here at Gallo LLP, we want to see all of our clients […]
Should I Lease or Buy Business Equipment?
Deciding whether to lease or buy business equipment can be a difficult decision. As a new business owner it can seem incredibly costly to purchase new equipment, but leasing can have different stressors attached. Here at Gallo LLP, we want to ensure you make the best financial decisions for your business. Read our blog to […]
How to Incorporate a Business in Canada
As a business owner, you’re likely wondering how to incorporate a business in Canada. Whether you’re a sole proprietor looking to incorporate, or you are starting your business as a corporation, it’s important to understand the process of incorporation to ensure all your accounts are in order. If you need assistance incorporating your business in […]
How to Calculate Business Use of Home Expenses Canada
More and more businesses are choosing to operate out of personal residences rather than pay for corporate spaces. If you are a business owner, this means that you can deduct a percentage of your home expenses that are used for business purposes. How to calculate business use of home expenses is actually simpler than it […]
Salary vs Dividends: How to Pay Yourself as a Business Owner
As a business owner, one of the key things to consider is how you are going to pay yourself. Deciding between paying yourself a salary or receiving dividends can be difficult. There is a common misconception that dividends are always subject to lower tax rates as they are investment income, not ‘earned’ income. However, the […]
When to Hire an Accountant for a Small Business
As a small business owner, you’re likely wondering when to engage a professional accountant. Hiring an accountant for a small business can seem like something to put off, as you may not feel in a comfortable position to start hiring consultants. However, accountants should be one of the earliest professionals you work with as they […]
How Do You Evaluate the Net Worth of a Business?
Evaluating the net worth of a business can be difficult. How you evaluate a business depends entirely on the tangible and intangible assets of the company. There are many reasons to undergo a business valuation. Read our blog to learn more about why you may need a business valuation, how a business is evaluated, and […]
What does it mean to scale your business?
Deciding if you can scale your business can be a challenge. As a business owner, it can be difficult to know what exactly it means to scale your business, and whether or not growth will be sustainable for you. Gallo LLP can provide you with financial insights into your business to know whether or not […]