http://forums.redflagdeals.com/ This forum is not meant for self-promotion, but rather to discuss the challenges facing Entrepreneurs and those running their own business in Canada. en Wed, 19 Jun 2013 01:20:16 GMT vBulletin 15 http://forums.redflagdeals.com/images/misc/rss.png http://forums.redflagdeals.com/ http://forums.redflagdeals.com/question-about-meals-1351234/new-post/ Tue, 18 Jun 2013 16:25:58 GMT I was reading the below from http://www.cra-arc.gc.ca/tx/bsnss/tp...n8523-eng.html

Line 8523 - Meals and entertainment (allowable part only)
The maximum amount you can claim for food, beverages, and entertainment expenses is 50% of either the amount you incur or an amount that is reasonable in the circumstances, whichever is less.

I'm an incorporated consultant travelling into Toronto for work from Mississauga; can I expense 50% of my meals? I didn't see any specific restrictions for my line of work. ]]> mastereh http://forums.redflagdeals.com/question-about-meals-1351234/ http://forums.redflagdeals.com/liens-1351034/new-post/ Tue, 18 Jun 2013 01:47:48 GMT Where can you find forms to register a lien if payment is not received and a service is performed? Where can you find forms to register a lien if payment is not received and a service is performed? ]]> kreek http://forums.redflagdeals.com/liens-1351034/ http://forums.redflagdeals.com/starting-new-business-1350857/new-post/ Mon, 17 Jun 2013 18:05:26 GMT Searched and still have a few Qs. I am planning on starting a business re-selling goods from my home in Ontario. Concerning HST, I understand the limits for not having to get an HST # are sales below $30k/year which I do not plan on exceeding. Question: Say I purchase a product for $20 plus HST = $21.30 and resell to a customer at $40, I do not charge HST because I do not have an HST number. At the end of the year, I would add $18.70 to my annual income and pay tax accordingly. Kind of basic example. I realize I would be able to deduct other expenses accordingly from the $18.70 gross profit. Does this all make sense? Thanks in advance Searched and still have a few Qs.

I am planning on starting a business re-selling goods from my home in Ontario.

Concerning HST, I understand the limits for not having to get an HST # are sales below $30k/year which I do not plan on exceeding.

Question:

Say I purchase a product for $20 plus HST = $21.30 and resell to a customer at $40, I do not charge HST because I do not have an HST number.

At the end of the year, I would add $18.70 to my annual income and pay tax accordingly.

Kind of basic example. I realize I would be able to deduct other expenses accordingly from the $18.70 gross profit.

Does this all make sense?

Thanks in advance ]]> FlashFyre http://forums.redflagdeals.com/starting-new-business-1350857/ http://forums.redflagdeals.com/dissolve-ontario-corporation-form-10-articles-dissolution-1350816/new-post/ Mon, 17 Jun 2013 16:42:17 GMT A friend of mine is in the process of dissolving his Ontario corporation. This corporation has been inactive for the past year (no revenue or expenses) and was used for a contract position and nothing more (no other business or employees etc).

As of the last year fiscal year end, there was a very small amount left on the balance sheet.

Assets: 3000
Liabilities: 200
Equity: 2800

Question 1: Will having Assets or Liabilities and Equity on the Balance Sheet in the previous year prevent a corporation from dissolving?
Question 2: In the above case where there are liabilities, for Form 10, is the correct box to fill out 4(C) "obtained consent to its dissolution from its creditors or other persons having interests in hits debts, obligations or liabilities"?

Thanks in advance! ]]> bizzyseller http://forums.redflagdeals.com/dissolve-ontario-corporation-form-10-articles-dissolution-1350816/ http://forums.redflagdeals.com/learning-about-entrepreneurship-1350629/new-post/ Mon, 17 Jun 2013 03:23:48 GMT oh sweet i didnt know we had a whole section devoted to this topic!

ever since i read the 4-Hour Workweek some years ago I've been very interested with the idea of owning my own business someday and making 6 figures without working 12 hours a day. i really liked the case studies given and do think its theoretically possible. the problem is i dont know how one would start acquiring the knowledge to do such a thing.

i was volunteering (as a CMA) at a U of T event some months ago and found out when I got there that it was related to entrepreneurship in some way. these 19 year old kids were there presenting their business ideas (all app-related) and were projecting revenues of $200K+ in 2 years. that's awesome! when i spoke with them later i found out there was some kind of entrepreneurship program they had attended where they'd been divided into groups and then put together a business plan that was then judged by a panel. that's the type of stuff that i think would be excellent for me. but i wasnt able to get any information from them as to how to find this program. i dont know how that happened. right now i was just watching an episode of shark tank and they mentioned the university of arizona's entrepreneurship program and that reminded me of all this.

so with that said can anyone advise about some good starting points / courses? i would love if there was a course i could take where i could join a group of a few people and we put together an academic project that could become a real-world thing if it did well.

thanks folks. ]]> bigdan http://forums.redflagdeals.com/learning-about-entrepreneurship-1350629/ http://forums.redflagdeals.com/need-customer-relationship-management-software-1350565/new-post/ Sun, 16 Jun 2013 23:45:09 GMT Can anyone recommend a few different Customer relationship management (CRM) software packages? It's for a small embroidery and printing business.

Thanks! ]]> Slawek http://forums.redflagdeals.com/need-customer-relationship-management-software-1350565/ http://forums.redflagdeals.com/where-get-information-about-starting-small-business-1350428/new-post/ Sun, 16 Jun 2013 13:48:46 GMT I am considering about starting a business but I have nothing specific for the moment. I was just wondering if someone can share websites/blog/books on how to start a small business and any other useful information. I am just trying to gather information for the moment so anything would help ! I am considering about starting a business but I have nothing specific for the moment.

I was just wondering if someone can share websites/blog/books on how to start a small business and any other useful information. I am just trying to gather information for the moment so anything would help ! ]]> moidgm http://forums.redflagdeals.com/where-get-information-about-starting-small-business-1350428/ http://forums.redflagdeals.com/flyer-distribution-through-mail-1350365/new-post/ Sun, 16 Jun 2013 05:22:23 GMT Just wondering if anyone has send out flyers/postcards in the mail previously and what company? I've checked out canada post and they are around 50 cents a postcard plus I can find out exactly how many households are in the grographic area.

I've heard of companies doing mail outs but always wondered if they really so send out the postcard, how would I really know unless someone brings it in. I trust canada post because they are a government run entity so I would figure they are actually putting it out in the mailboxes. But what about smaller companies that always advertise they are cheaper?

Thanks ]]> aquariaguy http://forums.redflagdeals.com/flyer-distribution-through-mail-1350365/ http://forums.redflagdeals.com/advice-first-steps-start-small-business-scratch-1350263/new-post/ Sat, 15 Jun 2013 23:18:39 GMT Hi everyone,

I'm brand new to this forum, but have been a participant in the other ones for years. Me and my husband recently had a small business idea (without saying what it is, it would be a membership based service). We obviously fell into the trap of building and building on our initial idea and we'd love to eventually build our own building somewhere, but based on our reality we'd be forced to rent at the moment.

Our situation is that we are public servants and have no money saved up. We owe an average mortgage, about 3 more years on our car and one more year of repaying a small house reno loan. We are not familiar with business loans or how to go about getting them, even less how to get investors, but my husband thinks that based on our situation, we are no way going to get a loan from the bank.

I was thinking we should just start by setting up an appointment with the bank to discuss our options and if they're aware of any loan guarantee programs or small business loans that could be applied to us, with no cash up front from us. My husband thinks we should at least show up with a business plan.

The thing is that on top of us having no capital to put into this business, we also have no real numbers to give the bank about our customers in our area. The service is kind of not common and people are not very honest about needing or wanting the service, so it's hard to get a potential number of customers. We know there is demand because we've met a large number of potential customers and they want a new service provider in our area because there's only one other provider and it's kind of crappy. We're planning on making our services much better, appealing, affordable and in a more central accessible location.

In addition, we've thought about asking around to find investors, but we have no clue what to offer in return and how much is reasonable to ask for.

I found a great place to rent (available in August) and I would love to start planning to rent the place, but I can't without money from the bank.

What do you think we should do in terms of first steps to set up our business without money?

Thanks for your help!

p.s. I know some people may say "you can't make money without money", but I'm sure the banks are used to giving money to startup small businesses that have potential... ]]> Aerya http://forums.redflagdeals.com/advice-first-steps-start-small-business-scratch-1350263/ http://forums.redflagdeals.com/preparing-nil-corporate-tax-returns-1350020/new-post/ Sat, 15 Jun 2013 02:24:39 GMT Is there anything useful to know about preparing nil corporate tax returns (T2) for a corporation that is reaching the end of its life? I understand there is the option of using the T2 short form but just thought I'd see if anyone had any useful advice. Thanks. ]]> choclover http://forums.redflagdeals.com/preparing-nil-corporate-tax-returns-1350020/ http://forums.redflagdeals.com/help-how-find-good-tenants-1349901/new-post/ Fri, 14 Jun 2013 20:15:16 GMT Hi! I am brand new to RFD and entrepeneurship & small business so any input/suggestions would be greatly appreciated. I purchased a small commercial / retail property and was wondering how does one go about finding tenants? I've tried Craigslist and Kijiji but no luck. Any ideas on how to attract good businesses? Thanks very much! ]]> raroc3 http://forums.redflagdeals.com/help-how-find-good-tenants-1349901/ http://forums.redflagdeals.com/feel-free-ask-me-anything-about-shopping-cart-system-erp-related-questions-1349578/new-post/ Thu, 13 Jun 2013 22:54:35 GMT I've been in the industry in last 15 years and I constantly seeing new eCom start up picking a wrong technology for their business.

Feel free to ask any question regarding Shopping Cart System or ERP system that you may had.

I will try my best to help you.

Thanks, ]]> KNLGROUPS http://forums.redflagdeals.com/feel-free-ask-me-anything-about-shopping-cart-system-erp-related-questions-1349578/ http://forums.redflagdeals.com/accounting-software-bookkeeping-biz-1349522/new-post/ Thu, 13 Jun 2013 20:15:44 GMT HI , I have experience in ACCPACC and SImply accounting, i have recently decided to open my own bookkeeping biz and wanted to know what the general concensus was on the preferred Accounting program is. I would like to be able to do entries virtually(cloud) from home. Please comment HI ,
I have experience in ACCPACC and SImply accounting, i have recently decided to open my own bookkeeping biz and wanted to know what the general concensus was on the preferred Accounting program is. I would like to be able to do entries virtually(cloud) from home.
Please comment ]]> chillz911 http://forums.redflagdeals.com/accounting-software-bookkeeping-biz-1349522/ http://forums.redflagdeals.com/tax-business-expenses-category-internet-freelance-work-1349237/new-post/ Thu, 13 Jun 2013 03:10:46 GMT I had some work done by "Elancers" (Elance.com). I've been told they should be classified as "Subcontractors" when I file my self-employed income tax return. But from everything I've seen online, the subcontractor category is for construction. The work they did for me was writing articles, etc.; the price ranged from $20-$200; the total about $1,200. They are all from the US. or overseas.

Is "Subcontractor" the correct classification and catch-all for any freelance work? Or is there another category? Or can you just put it as an uncategorized general Business Expense? ]]> CheapFinds http://forums.redflagdeals.com/tax-business-expenses-category-internet-freelance-work-1349237/ http://forums.redflagdeals.com/someone-made-fake-story-blog-post-its-first-page-google-1349137/new-post/ Wed, 12 Jun 2013 22:37:51 GMT Hi RFDers. I used to run a website that was my small business. It has died but it is something I put on my resume and employers always are quick to talk about it. I did a Google search and someone wrote a fake blog post about how I let the business crumble because I did not co-operate with him, basically a bunch of bull. He also listed himself as co-founder which is not true. This blog post is on rank #3 on the first page of Google. I am afraid employers will see this as I am still looking for a job. Is there anything I can do? I have tried to contact him on multiple occasions but he has not replied or done anything about it. Thanks guys, really need your help on this one. Hi RFDers. I used to run a website that was my small business. It has died but it is something I put on my resume and employers always are quick to talk about it.

I did a Google search and someone wrote a fake blog post about how I let the business crumble because I did not co-operate with him, basically a bunch of bull. He also listed himself as co-founder which is not true. This blog post is on rank #3 on the first page of Google.

I am afraid employers will see this as I am still looking for a job. Is there anything I can do? I have tried to contact him on multiple occasions but he has not replied or done anything about it.

Thanks guys, really need your help on this one. ]]> crazlunatic http://forums.redflagdeals.com/someone-made-fake-story-blog-post-its-first-page-google-1349137/ http://forums.redflagdeals.com/struggling-find-new-customers-my-service-business-any-hints-tips-1349118/new-post/ Wed, 12 Jun 2013 21:29:14 GMT I'm participating in the Government of Ontario Summer Company Program and started a door-to-door laundry service. After an order is placed by phone or my site (still being built :facepalm:), I will pick up the customer's soiled clothing to wash, dry, & fold before re-delivery in 48 hours. I am charging $35 + tax at the moment.

My marketing strategy since June 1st has been Kijiji and Craigslist ads but I've only sold two orders. I contacted BlogTO and The Star this morning but have yet to hear back.


My first priority is having my website ready to go by tonight.

Facebook ads seem like a good option as well, but I have no idea how effective they are. :(

I'm lost.


Edit: Didn't mention my business name because I'm not sure if it violates forum policy.


Do you RFD savvy business owners have any advice on how to proceed? I have no competitors at the moment and understand there is a huge demand.

Apologies if my post is all over the place. :( ]]> rosarkar http://forums.redflagdeals.com/struggling-find-new-customers-my-service-business-any-hints-tips-1349118/ http://forums.redflagdeals.com/small-business-solutions-phone-line-extension-1348953/new-post/ Wed, 12 Jun 2013 14:34:14 GMT Hello,

We currently have 5 offices, but only three of them have working phone lines.

We want to extend our phone system to reach 8 different rooms in our building, can anyone recommend a low cost service/ technician for the job?
We are located in Markham. I'm not really sure whats a good price for this kind of service.

Thanks ]]> blues45 http://forums.redflagdeals.com/small-business-solutions-phone-line-extension-1348953/ http://forums.redflagdeals.com/good-alternatives-cleverfoxs-online-booking-targeted-campaign-crm-software-1348931/new-post/ Wed, 12 Jun 2013 13:27:15 GMT Came across this software while perusing The Financial Post online today:
http://cleverfox.com/

Has anyone used this software before? I'm only about to start a small business the provides services over the internet and this software seems to be something I will want to have.

The features I require the most are the folllowing:
Manage your staff, schedule, & appointments

• Easily manage your staff and service provider’s availability for customers.
• Optional online bookings allow your customers to book appointments after regular business hours OR when no one is available to answer the phone at your business.

The light CRM component is also interesting as I want to be able to build a database with customer information.
Increase your business’s efficiency

• Streamlined operations for your employees means following the same steps EVERYTIME! When creating customer profiles with required information including first and last name, telephone and email address at the time booking appointments helps create a consistency in the way your employees interact with your customers.
• Every service your business provides to customers is completely customizable including clean up times, dates of availability and notes made at the time of the appointment, as well as questions asked to customer helps you increase customer satisfaction and the return rate of your customer base, GUARANTEED!

This is interesting too for non-repeat customers:
Run & manage your own daily deals and email campaigns

• Reclaim the power of daily deals! Start running your own deals and promotions directly from your Cleverfox dashboard! Target specific customers who have not returned to your business, or ones who have come to you from promotions with deal providers. The Cleverfox patented “Daily Deal” features empower you to create limited time offers and targeted any, all or just a select group of your customers and get them back in your front door without sharing any of the revenue with a 3rd party!

]]> alanbrenton http://forums.redflagdeals.com/good-alternatives-cleverfoxs-online-booking-targeted-campaign-crm-software-1348931/ http://forums.redflagdeals.com/how-create-million-dollar-business-weekend-1348838/new-post/ Wed, 12 Jun 2013 04:12:49 GMT I first met Noah Kagan over rain and strong espressos at Red Rock Coffee in Mountain View, CA. It was 2007. We were both in hoodies, had a shared penchant for the F-bomb and burritos, all of which led to a caffeine-infused mindmeld. It would be the first of many. The matchmaker then introducing us was the prophetic and profane Dave McClure, General Partner of 500 Start-ups, which is now headquartered just down the street from Red Rock. Mr. Noah has quite the start-up resume. He was employee #30 at Facebook, #4 at Mint, had previously worked for Intel (where he frequently took naps under his desk), and had turned down a six-figure offer from Yahoo. Since we first met, Noah’s helped create Gambit, an online gaming payment platform and a multi-million dollar business; and AppSumo, loved by entrepreneurs and moms everywhere. He also helped pour fire on both the 4-Hour Workweek and 4-Hour Body launches. The purpose of this post is simple: to teach you how to get a $1,000,000 business idea off the ground in one weekend, full of specific tools and tricks that Noah has used himself... How To Create A Million Dollar Business This Weekend (http://www.fourhourworkweek.com/blog/2011/09/24/how-to-create-a-million-dollar-business-this-weekend-examples-appsumo-mint-chihuahuas/) I first met Noah Kagan over rain and strong espressos at Red Rock Coffee in Mountain View, CA. It was 2007. We were both in hoodies, had a shared penchant for the F-bomb and burritos, all of which led to a caffeine-infused mindmeld.

It would be the first of many.

The matchmaker then introducing us was the prophetic and profane Dave McClure, General Partner of 500 Start-ups, which is now headquartered just down the street from Red Rock.

Mr. Noah has quite the start-up resume.

He was employee #30 at Facebook, #4 at Mint, had previously worked for Intel (where he frequently took naps under his desk), and had turned down a six-figure offer from Yahoo. Since we first met, Noah’s helped create Gambit, an online gaming payment platform and a multi-million dollar business; and AppSumo, loved by entrepreneurs and moms everywhere. He also helped pour fire on both the 4-Hour Workweek and 4-Hour Body launches.

The purpose of this post is simple: to teach you how to get a $1,000,000 business idea off the ground in one weekend, full of specific tools and tricks that Noah has used himself...

How To Create A Million Dollar Business This Weekend ]]> Rickson9 http://forums.redflagdeals.com/how-create-million-dollar-business-weekend-1348838/ http://forums.redflagdeals.com/t2-questions-dividend-fixed-asset-opening-balance-sheet-1348827/new-post/ Wed, 12 Jun 2013 03:25:58 GMT

1. I put my T5 Dividends ($20,012) on Schedule 100 retained earnings code 3700, and on schedule 3 "Total taxable dividends paid in the tax year to other than connected corporations." code 450. Do you think it is OK?
2. I brought a computer in 2012 for my work. I put it as a fixed asset and claim 30% of its price as current year expense. Do you think I need to fill other form about non-capital loss for its depreciation?
3. I start up my business without any asset and liabilities. In my opening balance sheet, I put $1 computer software and depreciated it. Do you think it is appropriate?
4. I need to pay $8,098 for income tax. May I know where I should claim for next year return, as expense or deduct from retained earnings?

Attached my balance sheets in Google Doc ]]> georgeitg http://forums.redflagdeals.com/t2-questions-dividend-fixed-asset-opening-balance-sheet-1348827/