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18-Mar-2020

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MOBILE HOMES, RV PARKS, CAMPGROUNDS Loss of the Small Business Deduction?

Income from the rental of seasonal and extended seasonal campsites and the storage of RVs (Specified investment businesses) are not eligible for the small business tax rate. Instead, they are taxed at over 50% in all provinces and territories, although 20.67% may be refunded when dividends are paid.

17-Mar-2020 Deerasa

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Fundraise your business & own majority shares? Yes you can

I do remain my own boss. And this is worth taking the challenge!

15-Mar-2020 Xero

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7 steps to manage Payroll Year End with Xero

First things first, grab a cup of tea.

15-Mar-2020 Xero

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Manage clients with staff? 6 tips to save time and reduce errors when doing payroll

Don't worry, the tips are here!

11-Mar-2020

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TAX ON SPLIT INCOME: The 20 Hours Test

One of the exceptions from TOSI occurs when the income recipient is actively engaged in the business and works an average of 20 hours per week. Where the 20-hour test is not met, the ongoing nature and labour requirements of the business must be considered.

09-Mar-2020 accountantsdaily

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‘Not interested in dragging disputes out’: ATO expands small business review pilot

The ATO has stopped short of making its small business independent review service a permanent feature as it expands and extends the pilot program until the end of the year.

04-Mar-2020

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CPP/EI RULINGS: Do they Trigger Payroll Audits?

CRA commented on whether a CPP/EI ruling triggers follow-up assessing and review. A referral to the Trust Accounts Examination Division (often leading to a payroll audit) is not automatically sent. However, it is sent in situations such as..

02-Mar-2020 Xero

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Xero global release update: February 2020

Check out the latest updates for small businesses and advisors, plus a peek at what’s coming soon!

01-Mar-2020 Deerasa

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Tips for business financial accounting management

Rеgulаr busіnеss dеаls wіth ехреnsеs, rеvеnuеs, рrоfіts, аnd lоssеs.

26-Feb-2020

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TRAVEL EXPENSES Shareholder-Employees

CRA released the promised guidance for employment expenses incurred by shareholder-employees to be deductible:

24-Feb-2020 PracticePlus

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What makes a great leader?

There will be times when circumstance will test your integrity and honesty. Never waver. Stick to your values and keep pushing on.

23-Feb-2020 PracticePlus

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4 ways to get your small business running

Are you ready to become a happy and successful small business owner?

23-Feb-2020 PracticePlus

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Small business tips to empower entrepreneurs and lead them to a better future

Join weekend bazaars, meet-ups, and forums.

20-Feb-2020 Xero

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How to make your early stage business run more efficiently

Here are some tips on the technology that will have an immediate effect on your business.

19-Feb-2020

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EMPLOYMENT EXPENSES Costs of an Assistant

A deduction can be claimed for salary paid to an assistant. Any deduction must be for salary, requiring it be paid to an employee.

16-Feb-2020 Entrepreneur

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Why alone time gives your business an edge

Hyperconnectivity is hurting your creativity. Reset with some solitude.

12-Feb-2020

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MOTOR VEHICLE EXPENSES Deductible?

Produce a T2200 which indicate that motor vehicle expenditures were requirements of employment with records that support total kilometres traveled such as repair receipts, employment/business travel logs

12-Feb-2020

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U.S. EXPATRIATES New Relief Procedures

On September 6, 2019, the IRS announced Relief Procedures for Certain Former Citizens, a new process to facilitate eligible individuals in becoming compliant with their U.S. tax obligations, in conjunction with renouncing their U.S. citizenship (IR-2019-151)

11-Feb-2020 ReadWrite

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9 ways to refresh your company’s image without spending a fortune

The good news: You don’t have to burn a ton of cash during your redesign and rebranding.

11-Feb-2020 Entrepreneur

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How successful people go from 6 to 7 figures

To find financial success, you need to invest in your support system.

10-Feb-2020 Xero

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4 accounting trends that will shape 2020

Accountants and bookkeepers will need to closely track the trends to stay ahead of changes in industry, regulation and policy.

10-Feb-2020 Entrepreneur

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The 3 biggest factors that maximize your business's valuation

Why the right people, assets and revenue predictions will matter most to investors.

10-Feb-2020 Downgraf

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Why and how you should invest in marketing for your small business

Marketing is crucial for the growth of any company, and if used well, the sky is, no doubt, the limit.

05-Feb-2020

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ADOPTION EXPENSES Step-Child

Legally adopting the child of a common-law partner may be eligible to claim the costs under the adoption expense tax credit ($16,255 @ 15% for 2019)

05-Feb-2020

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FEDERAL CARBON TAX Costs and Rebates

The Department of Finance announced the climate action incentive payment amounts for 2020. The following amounts may be claimed on the 2019 personal tax returns:

28-Jan-2020

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TAX TICKLERS some quick points to consider JAN 2020

Recent changes include rise in tax free Basic personal income to $13,229, 100% immediate write-off for zero-emission vehicle used in a business etc.

22-Jan-2020 PracticePlus

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6 funding options for start-ups

There are many ways to get funding for your business.

22-Jan-2020 Entrepreneur

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How can Entrepreneurs be more confident at work

Self-confidence is your biggest weapon and tool when it comes to entrepreneurship or a startup. Wear it proudly!

22-Jan-2020 ReadWrite

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How to get (useful) customer feedback in 4 steps

Once you have your feedback organized, you’ll have a goldmine of ideas for improving every facet of your products and customer experience.

22-Jan-2020 ReadWrite

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Is AI going to benefit HR in future?

If you know what type of positions to advertise for you’ll empower your company to become more effective in the long run.

22-Jan-2020 Xero

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What makes an accountant a trusted advisor?

Something to consider: Business owners who meet with their accountants monthly tend to view them as their most trusted advisors, consulting with them for business advice more often than family, friends, and even their lawyers.

20-Jan-2020 Entrepreneur

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3 important leadership lessons from Dr. Martin Luther King, Jr.

King was a visionary. He was a man who had a dream bigger than the times in which he lived.

20-Jan-2020 Xero

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How accountants can contribute to sustainability

A look into how and what sustainable businesses look like

20-Jan-2020 Entrepreneur

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The complete, 12-step guide to starting a business

Everything you need to know about how to start a business.

15-Jan-2020 ReadWrite

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5 quick tips for improving productivity at work in 2020

Emails. Phone calls. Meetings.

15-Jan-2020 Xero

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How to make your early stage business run more efficiently

Inefficient processes exist at nearly every company, regardless of size or turnover.

15-Jan-2020 BuinessGrow

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If you’re struggling with strategy, focus on the three market disciplines

There are situations in which you value the best-of-the-best.

18-Dec-2019 ReadWrite

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Creating the ideal workplace environment

By investing in enterprise management systems and intelligent apps, buildings can become more than just a workplace

15-Dec-2019 PracticePlus

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10 ways to prepare your business for 2020

2020 holds numerous victories for your business.

15-Dec-2019 HubPages

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7 mental and physical steps for a successful job interview

Tips and tricks for your interview

12-Dec-2019 PracticePlus

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8 tips on taking care of yourself during this busy season

Pick a thing from your personal to-do list and accomplish it, it helps a lot.

09-Dec-2019 PracticePlus

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11 tips for planning the best Christmas work party

Every good party needs some core elements to be a success

09-Dec-2019 BuinessGrow

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Is the idea of “brand” constant or evolving?

I have some of my own ideas about this, but I polled some of my smart friends and they came through for me with some great perspectives. Let’s get into this fascinating debate.

08-Dec-2019 ReadWrite

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How to enhance employee productivity

Staying diligent, no matter what includes taking time to implement these small measures.

08-Dec-2019 PracticePlus

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Impolite emails

If you discover that the customer didn’t complain about a specific thing but instead was ranting about nothing in particular, that could be a ticket to the bin.

08-Dec-2019 Xero

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The importance of mindfulness and self-care in the workplace

The insights from these discussions will help our teams manage workplace stress, better support one another, and encourage individuals to prioritize their own personal wellbeing

02-Dec-2019

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EMPLOYMENT EXPENSES Commuting

Commuting to work, no matter how far, is considered personal. However, there are some exceptions to this rule, such as where the individual travels to a temporary special work site, or a remote work location

25-Nov-2019

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PROTECTING YOUR TAX INFORMATION: CRA guidelines

CRA released various suggestions to safeguard tax information, including the following:

24-Nov-2019 PracticePlus

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The 3 business activites for Accountants

Operating activities, investing activities and financing activities.

24-Nov-2019 Entrepreneur

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Want to retire early? Do this one thing.

Don't start with too much money. (Yes, really.)

20-Nov-2019 PracticePlus

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6 tips for designing the best company logo

Do you know how to design a functional, well-fitting logo?

20-Nov-2019 PracticePlus

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Control this one thing, to become more successful

In as much as emotional intelligence is a fundamental skill, you must possess, the way and manner various individuals choose to attain this feat is variant.

20-Nov-2019 BuinessGrow

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The economics of becoming a keynote speaker

Before any talk, I know my material cold. I don’t read from slides. I don’t talk from notes or a script.

18-Nov-2019

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UNCLAIMED BANK DEPOSITS OR PROPERTY- Are you the rightful owner?

At the end of 2018 approximately 2 million unclaimed balances, valued at $816 million, were held by the bank, with $11 million being paid out in the year. Of interest, the oldest balance dates back to 1900..

17-Nov-2019 PracticePlus

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3 ways to adapt to a fast changing, small business.

The quote “awareness brings progress'', is not a cliché; but however, a general rule of thumb.

17-Nov-2019 ReadWrite

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How to avoid being part of 90% of failed companies

Being cautious and disciplined with your finances can be the difference between maintaining your project so that you can eventually succeed and be completely bankrupt.

17-Nov-2019 Entrepreneur

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How to get out of the comparison trap

It's time to stop worrying about what other businesses are up to.

11-Nov-2019 ReadWrite

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Why your Company’s tech transformation starts with the backend

This faster delivery of internal IT systems would also give us more credibility and currency.

11-Nov-2019

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Good News-TRUSTS FOR DISABLED BENEFICIARIES

A Henson trust may benefit a disabled relative..

11-Nov-2019

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PROPERTY FLIPPING Income or Capital?

If the motive for the sales were not personal but, rather, in pursuit of profit (sold on account of income) it is not eligible for capital gains treatment. As the gains were not capital in nature, the principal residence exemption could not apply.

10-Nov-2019 Entrepreneur

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Hiring remote workers? Here's what to consider first.

The most important personality traits to look for in remote employees are self-motivation and discipline.

10-Nov-2019 Xero

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Three steps to creating a sustainably-minded business

When it comes to making sure your business is doing better for the sake of the planet, it can all feel a little overwhelming.

04-Nov-2019

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PARKING PASS taxable benefit?

The Court upheld the previous Tax Court decision which classified an employer-provided parking pass as a taxable benefit..

30-Oct-2019 PracticePlus

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7 ways to manage the wellbeing of your employee

A leader plays an active role in the realisation of set goals and objectives

30-Oct-2019 PracticePlus

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Chase your goals, have self confidence

Read our tips on gaining self-confidence, so you can achieve the dreams and goals you have created.

30-Oct-2019 PracticePlua

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How the best Entrepreneurs tackle complicated situations

28-Oct-2019

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TRACKING OF OWNERSHIP INFORMATION CHANGES: Canada Business Corporations Act

Changes to the Canada Business Corporations Act, which came into force on June 13, 2019, incorporated discussions in respect of increased disclosure and tracking requirements of beneficial owners (those who may be considered owners even if not on title) of various types of property

28-Oct-2019

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IS IT TAXABLE? LOAN FROM A SIBLING’S CORPORATION

Special rules apply to loans advanced from a corporation to a shareholder or any related person which require an income inclusion in the hands of the borrower..

28-Oct-2019

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NOV 2019 TAX TICKLERS- some quick points to consider

Taxpayers may be entitled Employment insurance benefits when working outside Canada. A new Government of Canada report shows shocking statistics on tax actually paid and collected in 2014

24-Oct-2019 Readwrite

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6 steps to grow your small business with cold email

Your subject line is crucial if you want your emails to be opened & read by your prospects.

24-Oct-2019 ReadWrite

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Everything you need to know about finances for your startup

You’re just starting out, which means you need money. And quickly. Trust me, as a former small business owner, I get it.

24-Oct-2019 PracticePlus

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How to create an effective review workflow

Always remember to address the root cause of the problem; stop beating around the bush

24-Oct-2019 Readwrite

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How to write a welcome email to new employees?

Radiating warmth and friendliness will help your new employee feel relaxed and excited to start working.

24-Oct-2019 PracticePlus

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Recovery equals success and resilience.

Stress makes us stronger, and rest makes us last for longer

21-Oct-2019

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DEMAND FOR CLIENT INFORMATION: CRA’s Abilities

CRA intend to continue and increase the use of information gathering methods to get information about other taxpayers

14-Oct-2019

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DEDUCTIBLE WORKERS COMPENSATION from taxable income

If receiving full salary even after being injured, consider whether some of it could be classified as Worker Compensation and therefore tax-free.

13-Oct-2019 ReadWrite

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6 Steps to sell out your next event using Facebook Ads

It usually takes several touchpoints for anyone to decide to purchase, so we need to hit potential customers from different angles.

13-Oct-2019 BuinessGrow

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Why is gaining confidence so hard?

07-Oct-2019

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DISABILITY TAX CREDIT- ANXIETY DEPRESSION AND PHOBIAS

A taxpayer may be eligible for the Disability tax credit (DTC) if the impairment(s) represents a marked restriction in the ability to perform a basic activity of daily living

30-Sep-2019

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ZERO-EMISSION VEHICLE INCENTIVES: Personal and Corporate Incentives

Transport Canada released details on the purchase incentive of up to $5,000 for zero-emission vehicles as originally proposed in the 2019 Budget...

23-Sep-2019 Practiceplus

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Building a Business: Be your own customer.

The best way to stay in tune with your customers is to understand your customer; a way to do that is by being your own customer.

23-Sep-2019 Practiceplus

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Small Business making big financial decisions- here’s how!

Nobody can act you more than you! If you would be making huge financial decisions, you might have to consider several factors- both personal and financial.

23-Sep-2019 Practiceplus

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Workplace vs. New Generations

When trying to find ways to engage new generation workers, consider these two thoughts; first, are millennials, and the older generation needs different?

23-Sep-2019

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REIMBURSEMENT FOR WORK CLOTHING: Taxable

Clothing reimbursements - consider including distinctive visual markings such that it would be considered a uniform and therefore not subject to tax for the employee.

18-Sep-2019 Businesses Grow

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Perhaps your company’s branding strategy is YOU.

You can become famous through luck. But becoming known and a trusted a personal brand requires consistent work over many months, and perhaps even years.

18-Sep-2019 Entrepreneur

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Survive the upcoming Conference season with these hacks

Because we all know any conference day is a long one.

16-Sep-2019

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SPECIAL WORK SITE ALLOWANCE: Home Base Needed

SPECIAL WORK SITE ALLOWANCE planning to sell your residence because most of your time is spent at a special work site, note that your allowance may become taxable.

15-Sep-2019 Readwrite

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7 actionable ways to turn stress into success

Stress is an unavoidable consequence of our everyday work lives. There are going to be times where we’re going to deal with it, and there are going to be times where all it seems like it’s doing is piling up and finding its way into our personal lives.

15-Sep-2019 ReadWrite

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Website Security: How to keep your website safe in 2019

No matter how strong your passwords are, chances are that sooner or later they can be breached.

06-Sep-2019

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TAX TICKLERS… some quick points to consider… Sep 2019

In May and June of 2019, the provincial courts of appeal in Ontario and Saskatchewan ruled that the Greenhouse Gas Pollution Pricing Act (the Carbon Tax) was constitutional.

21-Aug-2019 PracticePlus

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Boost your potential with these accounting certifications

Having a certification would not only give you an edge in the accounting labour market, but it would also increase your earning capacity.

21-Aug-2019 Debtfix

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Is it a business debt or personal debt, or both?

One of the most common issues seen when businesspeople find themselves in trouble with debt, is that they don’t actually know what they might actually be liable for.

18-Aug-2019 PracticePlus

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Empathy: 4 things to remember

Being able to see the world from others point of view is such a beautiful talent- don’t waste it.

14-Aug-2019 PracticePlus

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5 things social media posts have in common

Not everyone understands how to appropriate the use of social media when it comes to marketing.

14-Aug-2019 Startups

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How to run a carbon neutral business

Your small business can make a big carbon-cutting impact! The 6 steps to running a carbon neutral business and why it’s the must-make business move of 2019 – all explained here

14-Aug-2019 FeedSpot

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Lost in Translation

On average, business people receive about 90 emails each day and send about 40

12-Aug-2019 Xero

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Creating an accounting newsletter that works

Email has been around since the ‘70s but it’s still our favourite form of online communication. Because of that, email newsletters are a great marketing tool and offer some of the best returns on investment in the industry. So how do you do it well?

12-Aug-2019 Xero

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How to get new accounting clients

A fifth of small businesses don’t have an accountant. As they grow, they’ll eventually want to get one. So how do you welcome those fresh young businesses into your practice?

08-Aug-2019 Xero

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Doing it differently, keeping accounting simple

Bruce Earle’s clients might not recognise the beanie wearing, craft-beer drinking, fan of “the Boss” (singer/songwriter Bruce Springsteen) outside of work days at his accounting practice. But Bruce has always been one do things a bit differently.