July 13, 2017

Dear Client:

Click here to read the April edition of Business Matters (late as usual due to tax season work load).

Tax Planning

The first article discusses the importance of income tax planning for owner-managed enterprises. This is something we deal with on a daily basis. It can be very dangerous to generalize when tax planning – no two situations are identical. There are generalizations in the article. Best advice – rely on professionals who know your situation. Keep them informed and meet with them occasionally to update your tax planning strategies.

Moneysaver

Rising interest rates are a reality in the U.S. and are being talked about by the Bank of Canada. Likely, any increase will be gradual but the bottom is in as they say so an article concerning the potential effects of higher interest rates is very timely. Review all of the points listed under “Proactive Planning”, determine which apply to your situation and consider what action should be taken.

I found the Management article to be very good. All of the items listed are worth reviewing. The paragraph on page 6 that starts with the sentence “Control your business by managing rather than doing” is great. Lots to consider.

The tech article discusses passwords, specifically password management software. I think this is an area in which most businesses are a little deficient. It’s difficult to stay current with technology. It almost seems you have to pick and choose which issues to deal with at any given time. Password manager services are not expensive – that’s a good thing.

As always if you have a question don’t hesitate to contact us. We love to hear from you.

Move-Back Date

We move back to 240 Main Street in Winkler on July 21/17. It’s been great where we are but it will be even better to be back at 240 Main. It’s always good to be home!

Have a great summer!

Yours truly,

JIM M. SMITH CHARTERED ACCOUNTANT INC.

Jim M. Smith, C.A.