RLB Blog

When you started your business, you had a vision, goals and dreams. As your business grew and changed, a strategy and plan evolved. Whether these plans were formal or highly informal, you had some sense of the direction you wanted your business to take. All too often, exiting your business doesn’t get that same attention. It can be easy to put off succession planning for a myriad of reasons; however it is important to create an adaptable plan and get everyone (family, partners, and key employees) on board. This will help to maintain the value of the business, maximize your retirement fund and protect your legacy.

The simple answer is YES! Succession is a word that is often used, but what does it really mean? A complex and confusing topic, it lingers as the unspoken part of business planning, too large to tackle, genuinely the elephant in the room.

As a business owner, you expect your business not only to support your family but to fund your retirement. Those who get the most out of their business upon retirement, are those who prepare a succession plan that is in line with their business’ strategy. This is always driven by the goals of the business owner and is revisited over time.

What is Virtual Bookkeeping

When COVID-19 caused worldwide closures earlier this year, businesses faced new and unprecedented challenges. Suddenly there were cash flow management questions, employee, and supply chain questions as well as new government policies to consider. One key process that also needs to be considered is how operational interruptions and market decline may impact your financial statement reporting. This is especially true if your lenders require an assurance engagement such as a review or an audit.

Fergus, ON | August 10 – RLB Chartered Professional Accountants (RLB) is honoured to receive the Business of the Year award at the 2020 Centre Wellington Chamber of Commerce’s Awards of Excellence. The drive-in style event allowed for a socially-distanced celebration of local businesses and individuals in the Centre Wellington community.

Brady Wilson from Juice joins Crystal Dunlop to talk about your team and their energy. Brady started his company, Juice Inc, in 1999. Juice was founded on the principle that everyone, from owners to employees, should have energy left over at the end of the day for their family, friends and themselves.

The CRA may follow up on claims you have remitted, at its discretion. This is nothing to worry about; like with any government program, monitoring is always present. If your claims were made in good faith and you keep adequate books and records, you will be able to answer any inquiry they may have.

Question: Our organization had to cancel our AGM due to the Coronavirus pandemic, how long do we have to reschedule?