The Small Business Outlook

How an HSA can help expedite a medical procedure

The shortcomings of the Canadian health care system became painfully evident when I was faced with the issue of plugged ears from a diving incident. Despite my hopes of the...

My Journey into Stem Cells Down South

You’ve probably heard of stem cells but may not know much about them. There are basically 2 types. One type involves growing stem cells from your own body. I’m 74 so I would...

Alternatives to Individual Health Insurance for Entrepreneurs

Did you know that over 70% of small business owners in Canada don't have a group benefits plan? That's right, it seems like we're all just winging it when it comes to...

Small Business, Big Protection: 2 Insurance Types Entrepreneurs Need

Many small businesses are underinsured – and this puts their company at risk if they are involved in a claim or their owner is struck by a debilitating illness. In this post,...

Top Small Business Grants Available in Canada and How to Apply to Them

There is a wide variety of grants available to small businesses in Canada. However, not every business qualifies. Read on to learn how you can research grant opportunities...

My Journey with Stem Cells and Platelets: Non-Surgical Pain Relief

I found relief from my arthritis and pain through a non-surgical treatment option, stem cells and platelets. It was an international but fruitful endeavor.

What is rehabilitation therapy and how does it work?

Rehabilitation therapy is often provided after an individual is injured in an accident, has had a stroke or is suffering from a chronic condition, such as back pain. In this...

What creates a strong corporate culture?

Every organization has a corporate culture. Often it is spelled out in a statement of values agreed upon by both leaders and employees; sometimes it is an unwritten code that...

Moving forward: Small Business Debt in Canada

Many small businesses take on debt to get started, expand their operations or increase marketing. During the pandemic, some needed to borrow just to stay afloat. With Covid...

How does capital equipment leasing work?

Capital equipment leasing may sound like solely an opportunity for big mining and manufacturing firms, but small businesses like farms, dental offices and restaurants can...

Mousetraps and Patents - A Guide to Patents in Canada

When you invent a new product or process, it’s important to file for patent protection to prevent others from copying your idea and profiting from it. In this article, we’ll...

The Guide to Small Business Tax Audits - Avoid & Prepare

When you run a small or medium-sized business, you want to be sure to stay in the good books of the Canada Revenue Agency. If you are audited by the CRA, it could cost you a...

How to identify and avoid small business fraud

Unfortunately, when you run a small business you are a target for fraudsters. Many of these scammers are located in other parts of Canada or even other countries. However,...

Everything you need to know about small business bankruptcy in Canada

For a small business, filing for bankruptcy is usually considered a “last resort” since it will mean the end of your company. In this article, we talk about how bankruptcy...

New tax credits for 2022 in Canada

No one likes to pay more taxes than they have to – so be sure to take advantage of all of the tax credits available. In this article, we’ll look at the new tax credits for...

How does inflation affect small businesses?

Rising costs hurt everyone, including small businesses. Your employees may be demanding higher wages and suppliers may be increasing prices every time you place an order. And...

Six key things when planning for retirement in Canada

There are many articles offering advice on how to plan financially for your retirement. Money is important and we’ll certainly dive into finances in this article. However,...

To Buy or Not To Buy - Health Insurance for Small Business

With worker shortages in many sectors across Canada, small businesses are increasingly providing health benefits to recruit and retain top employees. However, health...

Everything you need to know about Canadian employee benefits

Employees at Canadian organizations have access to a variety of benefits. Some of these are mandated government programs – so every employee receives them. Others are...

What is long term care insurance in Canada?

Many Canadians think that the government health care system will cover all of their costs if they need to move to a long-term-care facility or require at-home assistance with...

What’s the difference between a partnership and a corporation?

When you start a business in Canada, one of the most important decisions that you must make is what kind of legal structure it will have. There are three main options: sole...

What is a Professional Corporation in Canada? - Examples

If you work in certain professions in Canada, you may be able to save taxes by forming a professional corporation. These are similar to regular corporations but do not limit...

Unanimous Shareholder Agreement - Explained

These types of agreements are usually used by companies with a small number of shareholders, which are often called “incorporated partnerships.” A unanimous shareholder...

What is an arm's length employee?

When you own a family business, you may have two types of employees: arms-length and non-arm’s length. In this article, we’ll discuss non-arm’s length employees, who are...

Guide: How To Incorporate in Ontario

When you start a business, you have two options. First, you can operate as a sole proprietorship and simply report your earnings on your personal income tax return. The...

What is a Non Registered Account and How Does It Differ?

In Canada, the government offers special tax treatment in registered accounts, such as an RRSP and TFSA. These registered accounts come with certain restrictions. On the...

What is a Lifestyle Spending Account (LSA) and how does it work?

These are fairly new employee benefits designed to encourage employees to maintain and improve overall wellness. They can be used to attract and retain outstanding employees...

What is the RRSP Deduction Limit?

An RRSP is a great way to save for your retirement. However, the Canadian government does put a limit on how much you can contribute and deduct from your taxable income.

LIRA vs RRSP: what’s the difference?

Let’s start with the similarities. A Locked-In Retirement Account (LIRA) and a Registered Retirement Savings Plan (RRSP) are both investment vehicles that help you save for...

How does the disability tax credit work?

People with disabilities face costs that other taxpayers don’t, such as attendant care, special devices and computer software. In addition, they are more likely to be able to...

What happens to an RRSP when you die

Nobody wants to consider their own death, but it’s important to plan carefully so that your family is not hit by a huge tax bill. Read on to learn more about what happens...

Guide: How To Incorporate in Alberta

When you start a business, one of the first decisions you must make is whether to form a corporation or operate as a sole proprietorship. The costs and legal liabilities are...

Everything you need to know about the Trillium Drug Program

This is an Ontario program that helps residents of that province to defray the cost of prescription drugs. There are a lot of restrictions – you are most likely to qualify if...

A Short Guide to Malpractice Insurance in Canada

Professional malpractice insurance covers health and wellness professionals in the event that they are sued by a patient or client. A number of professions, including doctors...

What is a third party administrator in Canada?

Third party administrators are benefits experts who offer flexible options to small, medium and large companies. While they are not as well known as the big insurance...

What is considered major restorative dental coverage?

Many Canadians have dental insurance through their employer or that they have purchased. The question is: Does their plan cover only basic dental treatment or also include...

How are Registered Retirement Income Fund (RRIF) withdrawals taxed?

Some Canadians are shocked when they realize that they must pay tax when they retire and start withdrawing money from their RRIF. However, it’s only fair. When you put funds...

A brief guide to the child tax benefit in Canada

The federal child benefit is a government of Canada program to help families defray the cost of raising children. If you have a child under the age of 18, read on to learn...

Can you transfer an RRSP to a TFSA?

You certainly can transfer stocks and other investments from your RRSP to a TFSA. However, there may be tax implications. So, the big question: Is it a good idea? Also in...

What Does Cyber Insurance Cover and How Much Does It Cost?

In the last couple of years, the news has been filled with reports of big companies and public institutions falling prey to cyberattacks. However, if you run a small or...

A short guide to being an independent contractor in Canada

Independent contractors work with both large and small businesses. They can have a wide range of backgrounds, including administrative assistant, accountant and consulting...

What is Small Business Mobile Marketing and How To Use It?

Mobile marketing is one of the fastest growing ways to reach potential customers. Why? Because people are increasingly using “mobile” devices like smartphones and tablets...

How to become an insurance broker in Ontario - A Quick Guide

In Ontario, insurance brokers sell insurance for vehicles and homes. In order to be licensed as a broker, you must pass an exam and be sponsored by an experienced broker. The...

Everything You Need to Know About Daycare Business Insurance

Daycares should have insurance because there are many risks associated with caring for young children, such as injuries and property damage. This applies whether you are...

How are stocks taxed in Canada?

Let’s face it, analyzing tax rates is nobody’s idea of fun. However, everyone loves saving on taxes! Read on to learn more about the tax on stocks in Canada – and how you can...

Did you miss any of these small business tax deductions?

It’s important to claim all possible tax exemptions. These serve to reduce your taxable income so that you pay as little corporate income tax as possible. In this article,...

Are moving expenses tax deductible in Canada?

The moving expenses deduction is a great way to reduce your taxable income – and hopefully receive a tax refund. However, there are restrictions about who can claim moving...

What is Commercial General Liability Insurance and What Does It Cover?

This insurance protects your business in the event you are responsible for an injury or property damage to an outside party. In Canada, the most common type of claim is a...

How You're Impacted - Ergonomic Hazards in the Workplace

When humans were hunter-gatherers, they used their bodies for a wide variety of tasks and seldom did the same thing all day. In the last 150 years since the start of the...

A Comparison of Health Insurance Plans in Canada

In Canada, universal health care means that everyone can visit doctors and hospitals at no cost. However, there are a lot of health services that are not covered by medicare....

The Type of Surgery That is Not a Medical Emergency - Elective Surgery

Doctors often perform emergency surgery to prevent a patient from dying. At other times, elective surgery is needed to restore a patient’s qualify of life. Sometimes people...

What is the Registered Disability Savings Plan (RDSP) in Canada?

The Registered Disability Savings Plan allows parents (and others) to save for the long-term financial security of a person eligible for the Disability Tax Credit.

What does Canada RIT mean on my bank statement?

If you are reviewing your bank statement and notice a direct deposit with the note “Canada RIT” or “RIT/RIF”, it’s good news. It means that the Canada Revenue Agency has...

What is product liability insurance and how does it work?

Product liability insurance provides important protection for companies involved in the manufacturing and distribution of consumer products. Unfortunately, sometimes a...

What is Errors and Omissions Insurance in Canada?

If you provide advice or services to clients, you may need an errors and omissions policy. Some professions, such as accountants and engineers, are required to have this...

TFSA Withdrawals - Everything You Need To Know

One of the great aspects of a Tax Free Savings Account is that making withdrawals is easy. While RRSP withdrawal rules seem to be made by the Canadian government’s version of...

Guide - How To Apply For Short Term Disability

If you are temporarily unable to work due to a physical or mental health condition, you might be eligible for short term disability benefits. This may be covered by both...

What is Commercial Property Insurance and What Does It Cover?

Any business or organization that owns or leases commercial property should have insurance. This will protect you in the event of fire, crime and vandalism. In addition,...

What is Wrap Up Liability Insurance in Canada?

If you work on large construction projects, wrap up liability insurance can reduce risk and improve efficiency. Read on to learn more about this product for insurance during...

What are Flexible Benefits and How do They Work?

The world is currently experiencing a very competitive job market. As an employer, you need to stay up-to-date with benefits trends to keep valuable employees and attract top...

T5018 Guide – Contractor Payments for the Construction Sector

The construction industry in Canada has many self-employed and small business contractors working on any given project. This could include plumbers, electricians and...

Does your company need contractor insurance?

Contractor insurance protects a wide range of companies in Canada. You could be a large construction contractor with dozens of employees. Or you might have a one-person...

What is an Individual Pension Plan (IPP) and how does it work?

An Individual Pension Plan is a form of retirement account that can be set up by business owners and incorporated professionals, such as doctors and dentists. While it is...

What Is Life Insurance and How Does It Work?

In this day and age, life insurance is a must. The reality of death has struck many close to home. Death is a very traumatizing experience for your loved ones.

What Is a Non Registered Savings Plan (NRSP)?

You may not be able to predict life's many curveballs, but you can preserve your peace of mind. After all, one of the biggest benefits of saving money for retirement (and for...

Term vs Whole Life Insurance - What You Need to Know

Whole life and term life are the two main types of life insurance in Canada. People typically take out life insurance to provide for their loved ones in the event that they...

Is Massage Therapy Tax Deductible in Canada?

Massage therapy as an eligible medical expense on your tax return varies by province. If eligible, the expense is calculated through the Medical Expense Tax Return (METC),...

How much does Dental Insurance Cost in Canada - A Concise Guide

Provincial health insurance covers the cost of going to see a doctor or a hospital stay. However, these plans do not include visits to a dentist – even though good oral care...

How To Invest in Cryptocurrency in Canada

Investing in cryptocurrency is highly speculative and risky. Only invest in cryptocurrency after you have paid the mortgage, bought groceries, put money in your RRSP, and...

TFSA Contributions - Everything You Need To Know

Tax Free Savings Accounts provide a great opportunity for Canadians to save for a variety of purposes, including purchasing a house, retirement or going on a special vacation...

Total Compensation - What is it and what to include?

Looking to attract and maintain top talent over the long term? It’s not easy in today’s market. Total compensation is an effective tool when attempting to retain top talent...

The Advantages and Disadvantages of TFSAs

A Tax-Free Savings Account is a program of the Canadian government that allows you to invest your money, with any dividends and capital gains being tax free. No one likes...

What is a Life Income Fund (LIF) and how does it work?

If you had a pension plan with your employer and left the organization, you may have used the funds to open a Locked-In Retirement Account (LIRA). When you retire, you can...

7 Elements of an Employer Employee Relationship

Maintaining a good employer-employee relationship is crucial to the success of you and your business. Not only that-- but having a good employer-employee relationship can...

What is key person insurance and how can it protect your business?

In many organizations, one person is vital to its success – and perhaps even survival. It could be the business owner or the CEO. Or it might be a development expert, such as...

What are restorative dentistry procedures?

Restorative dentistry procedures repair or replace missing or damaged teeth. This can range from simple fillings to very expensive crowns and dental implants. Do most...

How to withdraw from an RRSP without paying tax

When you deposit funds into a Registered Retirement Savings Plan (RRSP), you receive a tax credit that reduces the amount of income tax payable. That’s the good news. The bad...

An Honest Comparison: Segregated Funds vs. Mutual Funds

Segregated funds are a combined investment and life insurance product available in Canada. On the other hand, mutual funds are purely investments that you can hold inside or...

What happens if I over contribute to my RRSP?

Registered Retirement Savings Plan (RRSP)s are a great savings tool because they provide you with a tax deduction to reduce your income tax payable. Like all great things,...

How To Invest in Real Estate in Canada

In many parts of Canada, real estate prices have increased rapidly in recent years, providing investors with outstanding returns. There is a wide range of options for...

How does an RRSP deduction work?

RRSPs are a Canadian government program to encourage people to save for their retirement. When you contribute to your RRSP, you can deduct the amount from your taxable income...

The Basics of a Dental Bone Graft Procedure

Did you know that nearly 120 million Americans are missing at least one tooth? This number of course fluctuates globally, but the reasons for tooth loss vary anywhere from...

What is Bridge Financing in Canada and how does it work?

Bridge financing for a mortgage is often necessary but there may be alternatives.

RRSP Contribution: Everything You Need To Know

Registered Retirement Savings Plans (RRSPs) are a great way to save for your golden years and at the same time avoid paying taxes. Every working person should take advantage...

Is RRSP Home Buyers Plan (HBP) worth it?

It’s challenging for first-time home buyers to save for a down payment that’s large enough to avoid mortgage insurance requirements and keep debt at a manageable level....

A Concise Guide to Dental Care for Children

A pediatric dentist specializes in dental care for children ranging from infants to teenagers. They are trained to treat young children and understand how best to accommodate...

How Kinesitherapy Can Help You Reduce or Prevent Pain

Just as food and nutrition can play a part in managing certain health conditions, so too can exercise. Kinesiotherapists operate on the premise that movement is medicine.

How Much Does Botox Cost in Canada?

Botox is one of the most popular non-surgical procedures in North America. As of January 2021, the most popular cosmetic procedure that was searched online in Canada was...

What You Should Know About Speech Therapy for Kids

When a child has problems with social — verbal and nonverbal — communications, social communication disorders may occur, requiring some form of speech therapy.

What are chiropractor prices in Canada?

Chiropractors specialize in the manipulation of joints and alignment of the spine to improve the functionality of the nervous and musculoskeletal system. By utilizing unique...

Causes of Negative Self Talk and How to Overcome It

Do you ever find yourself asking this question; why am I so negative about myself? You are not alone; research has found that of the thoughts we think throughout the day, 80...

Why Use a Mortgage Broker Instead of a Bank?

With house prices hitting record highs in many parts of Canada, buyers are being forced to take out big mortgages. As a result, it makes sense to find the best possible...

How Does a Prescribed Annuity Work?

Regular annuities are a safe way to guarantee a stream of monthly income. You hand over a large amount of cash (typically $100,000 or more) and in return get a modest monthly...

What is the Cost of Wisdom Teeth Removal in Canada?

Wisdom teeth removal is a common practice in North America. But contrary to popular belief, you don’t always have to get them removed when they are growing in. The primary...

What is a Spousal RRSP and How Does It Work?

Spousal RRSPs permit couples to balance their savings contributions, allowing them to pay to less tax when they withdraw money upon retirement. So, if you are married or have...

The Pros and Cons of Whole Life Insurance

A whole life insurance policy provides a cash payout to your loved ones in the event that you die. While no one likes to contemplate their own demise, it’s important to...

A Basic Guide to Independent Contractor Taxes in Canada

Being an independent contractor can have significant tax benefits in Canada. In many cases, you can deduct home office costs, mileage to travel to your client’s place of...

What is Estate Tax and Inheritance Tax in Canada?

The good news is that there is no estate or inheritance tax in Canada. The bad news is that taxes on income and capital gains must be paid when someone dies.

What is an investment loan and how does it work?

When a person borrows money to invest in stocks or real estate, this is called an investment loan in Canada. In many cases, the interest payments are tax deductible. However,...

What is mortgage default insurance and how much does it cost?

The government of Canada requires you to have mortgage loan insurance if you are purchasing a home with a down payment of less than 20 percent of the total cost. This should...

DPSP vs RRSP - Which is right for you?

Many Canadian employers have set up group RRSPs for their employees. The Deferred Profit Sharing Plan (DPSP) is a less well-known retirement savings plan that can be a good...

What are tax write offs and what qualifies?

If you own a small business in Canada, you can claim – or “write off” – certain expenses provided that they contributed to your ability to earn an income.

TFSA vs RRSP: Which is better for you and why?

The TFSA and RRSP are both great investment vehicles. In this article, we’ll explain the difference between TFSA and RRSP and discuss which may be the better option depending...

What is considered Medical Cannabis in Canada? (Treatment, History)

You might be familiar with recreational cannabis, but have you found yourself wondering what is medical cannabis and what's the big difference? You're not alone!

Sole proprietorship vs Corporation in Canada - What's the Difference?

When starting a business in Canada, one of the most important decisions you must make is whether to incorporate or operate as a sole proprietorship. This can have financial,...

How To Invest Your Money in Canada - A Beginner's Guide

Let’s face it, investing can be intimidating. There is a myriad of options for investments in Canada, which can lead to paralysis in deciding how and where to put your money....

When can you claim business expenses and how to calculate them?

It’s important to claim all possible business expenses in order to minimize your taxes owing. Depending on your situation, the business expense tax deduction will be somewhat...

How does a Registered Education Savings Plan (RESP) work?

A Registered Education Savings Plan (RESP) is a great way for a parent or grandparent to save for a child’s post-secondary education. The Canadian government even offers a...

Self Employment Ideas for Starting a Business in 2021

Everyone dreams of having financial independence, yet how can you achieve it? The answer is by working for yourself.

What is a trustee and what does it mean?

Planning for when we are not here is not the most exciting nor enjoyable task. For that reason, it is understandable that many avoid doing so, with the Angus Reid Institute...

What is Critical Illness Insurance? Coverage, Payout, and more

Critical illness insurance provides a lump-sum payment in the event that you are hit by a major illness, such as a stroke or cancer. You can purchase plans that will provide...

Claiming dependents on taxes in Canada - Who is Eligible?

Everyone in Canada likes to minimize the amount of tax they pay – so be sure to claim a deduction for your dependent if you are eligible. You’d be surprised at who can be...

A Quick Guide to Accidental Death and Dismemberment (AD&D) in Canada

You have almost certainly heard the phrase, "expect the best but prepare for the worst". It's popular for a reason. Accidental death and dismemberment would definitely be...

Fun at the Office: Why Have a Workplace Social Committee

Does your business need a boost in morale? If so, start thinking outside of the box for creative solutions to make your employees happier. Start a workplace social committee!

What's the difference between Sole Proprietorship and Corporation?

As of December 2019, there were 1.23 million employer businesses in the Canadian economy, Deciding how to structure those businesses is hard decision owners have to make. But...

What is a Locked-In Retirement Account (LIRA) and how to withdraw?

A Locked-In Retirement Account (LIRA) is a registered retirement savings account that usually does not permit withdrawals before retirement. In this way, it is more...

What is the Guaranteed Income Supplement (GIS) in Canada?

More than 50 years ago, the Canadian government recognized that the nation’s senior citizens had a financial problem. They were living longer than ever – and many were...

What Is the Average Canadian Household Debt?

The economic and psychological effects of debt can have serious long-term repercussions. Most notably, ill-health, mental health difficulties, and bankruptcy.

What Is Coordination of Benefits (COB) and How Does It Work?

Let's face it; insurance is complicated. Whether you're trying to figure out your benefits coverage or you simply need to know where to send a claim, many patients struggle...

How do taxes work in Canada?

No one loves paying income taxes, but they make up about half of the revenue that the federal government needs to deliver services to Canadians. Fortunately, there are ways...

What are Employee Assistance Program (EAP) Benefits and what's covered?

A 24-hour crisis and referral center, counseling services, quality assurance, and dedicated management: these are all of the things you can find with the Canadian Employee...

What is a Tax Free Savings Account (TFSA) and how does it work?

In Canada, a Tax Free Savings Account (TFSA) is a quintessential way to grow your savings and investments tax-free. If you are wondering how to use a TFSA, how to open a...

The Advantages of Group Health Benefits Plans

No one likes to think about what would happen if their employee or a group member were to get sick or injured. But what if it happens? Until that happens, it’s easy to think...

What are Paramedical Services? Everything you need to know

One of the most popular employee benefits favored by Canadians is paramedical services. Sometimes these types of services are also simply referred to as Parameds.

A Guide to Short Term Disability Insurance in Canada

Life is an amazing voyage, but it can throw us off course from time to time. Occasionally, you may find yourself in the unfortunate situation of requiring short-term...

What is a Psychiatrist? Everything You Need to Know

One out of five Canadians will experience some kind of mental health disorder or addiction problem in any given year.

What is Cardiovascular Disease? A Complete Overview

For over one hundred years in Canada, cardiovascular disease has been the leading cause of death. In fact, cardiovascular disease in Canada accounts for half of all deaths.

Incorporation in Canada: Everything You Need to Know

Suppose you’ve slowly been expanding your hobby into a side-hustle, or you have a fantastic new product idea. In that case, it might be time to take your passion further.

What are Extended Health Care Benefits in Canada?

To attract and retain top talent, many organizations offer employer extended health insurance to their staff. Previously, only large companies and governments were able to...

A Quick Guide to Health and Dental Insurance in Canada

Canada’s universal healthcare program covers trips to the Emergency Room, doctor visits and hospital stays. However, there is a lot that is not included: Prescription drugs...

New Trends in Employee Benefits

New trends in employee benefits has shifted greatly, with alternative employee benefits such as remote work and caregiving responsibilities becoming prominent.

The Advantages and Disadvantages of RRSPs

Canadians have embraced Registered Retirement Savings Plans over the years, with the average person holding more than $100,000 in their account, according to a BMO survey....

Everything you need to know about building a financial planning practice

A career in financial planning is both rewarding and challenging - you have an opportunity to help people achieve financial wellness by reaching their financial goals. On the...

The 7 Key Components of Financial Wellness

Physical and emotional wellness receive a lot of attention in the news, media, and in blogs. Financial wellness, not so much. That’s unfortunate because your financial well...

What is a Personal Spending Account (PSA) and how does it work?

With a recent shift in workforce dynamics, employees are looking for greater choice and flexibility. The introduction of personal spending accounts offers a solution to this...

How does Olympia Benefits work?

Olympia Benefits is a leading provider of Health Spending Accounts in Canada. We provide HSAs to over 57,000 businesses across the country. Our plans are easy to use because...

What is a defined contribution health plan?

There are many types of defined contribution plans. However, one form of defined contribution plan that is often overlooked is for healthcare. In defined contribution health...

What is extended health care coverage and do you need it?

Extended health care covers expenses beyond the reach of provincial health plans. For example, prescription drugs, vision, dental, professional services, medical equipment,...

What is Memory - Explained in Simple Words

Memory is the dynamic process by which we integrate and retain information that we perceive in our environment. Einstein interestingly captured this idea by saying “memory is...

2 Things to know about Health Spending Accounts in Ontario

In the past, Health Spending Account claims were exempt from taxes. This still holds true for most provincial governments. Unfortunately, Ontario applies unique provincial...

How do you claim income tax medical expenses?

Every tax year, Canadians can apply for the Medical Expense Tax Credit (METC) to claim their personal medical expenses. In this article, we'll explore what you need to know...

How does self-funded health insurance work?

Instead of paying a third party provider for full coverage (managing and reimbursing claims), a company can self-fund their health insurance by paying for only the...

What is the cost of Physiotherapy in Canada?

It's no surprise that physiotherapy plays an important role in retaining and improving our everyday wellbeing. However, it doesn't come cheap. With so many different...

What are eligible expenses in a health care spending account?

Health care spending accounts (HCSAs) are a versatile tool for small business owners. While following the guidelines set forth by CRA, they cover a wide variety of expenses...

What is an ASO Benefits Plan?

These types of self-funded benefits plan are very common in Canada. In fact, the tax laws also allow for something called a Health Spending Account, which is a tax efficient,...

Can an employer take away employee benefits in Canada?

Employee benefits can make up a significant portion of an employee's total compensation. As a result, cutting employee benefits can have a lasting impact. The legal...

Small Business Planning for the New Year

Despite a new year and a brighter outlook, 2021 will not be without its own set of challenges. As the global economy continues to make way toward recovery, businesses must...

How do dividends work?

What is a dividend? Dividends are a share of profits a company distributes to shareholders. Dividends act as a signal of corporate health - think of them as a reward for...

What is a health care spending account?

Health care spending accounts help business owners save on medical costs by turning after-tax personal medical expenses into a before tax business expense. By utilizing tax...

Your quick guide to an ideal small business benefits plan

A small business benefits plan can consist of several different types of benefits. For the purpose of this article, we will focus on health related benefits.

How to achieve the 4 pillars of employee wellness

Employee wellbeing has been a big topic of discussion in 2020 as workers are spending less time outside and more time in their home offices. With employee wellness being...

6 common problems faced by small businesses and how to solve them

Small businesses face a number of challenges from finding customers to affordable health care. In this brief article, we'll identify 6 common problems faced by small...

Quick Guide: Employee health benefits for small businesses

Understanding the health benefits landscape is important for a small business to remain competitive and relevant. Employee health benefits can be just as important as salary...

The Truth About Small Business Health Insurance

The truth is there are two options to pay for employee medical expenses. You can buy a traditional health insurance plan or use a Health Spending Account. We’ll explore these...

How do small business loans work in Canada?

There comes a time when a small business needs to access capital. Perhaps there are plans for expansion or there is a need to fund a new marketing plan. Loans play a critical...

Basic Bookkeeping for Small Business in Canada

While accountants are responsible for analyzing the data provided in the records of a company, the bookkeeper must collect and organize this data. This makes their job...

What is Ransomware and How Does it Affect Small Businesses?

Ransomware attacks increased 41% in 2019. Ransom demands in Canada for 2019 totaled $341 million CAD, but when downtime and indirect costs were factored in this number rose...

9 FAQs About Cyber Security for Small Businesses in Canada

In our increasingly digital world many small businesses continue to lack proper cyber security. Did you know? Data breaches exposed 4.1 billion records in the first half of...

Health Spending Accounts for Incorporated Professionals (Interview)

Health Spending Accounts (HSAs) help business owners reduce taxes and healthcare costs. This interview walks incorporated professionals through everything they need to know...

How To: Payroll for Small Business in Canada

After hiring your first employee, there are some additional steps to take as a business owner – one of them being payroll. For a first-time business owner, the task of paying...

What are the Types of Chronic Pain and the Causes?

More than 1.5 billion people around the world suffer from chronic pain. Chronic pain is ongoing pain that can linger even after an injury is healed. In rare cases, chronic...

How Often Should a Small Business Post to Social Media

How often you post to social media can impact if the platforms shows your posts to your followers. We have all heard rumours that the best option is to post daily to ensure...

What are the symptoms of gum disease?

Gum disease often starts because of poor dental hygiene. Gingivitis precedes periodontitis, although the former does not always lead to the latter. Gingivitis occurs when...

Mental Health Trends & Recommendations for the Workplace

How does long-term stress, or the anticipation of stress, impact our mental health? In this article, learn how the events of 2020 have impacted Canadians' mental health, what...

How much does a private MRI cost in Canada?

The public healthcare system in Canada provides a great service to it's citizens. However, it is not without its problems. Some Canadians face lengthy wait times for...

How to Get Better Sleep

Getting a good night's sleep starts with the behaviours we do when we first wake up. Throughout the day our behaviours will either enhance, or disrupt, our ability to get in...

How much are shipping costs for a small business in Canada?

Shipping costs can vary based on factors like packaging, weight, sizing, and the product itself. Based on these variables, you want to pick a provider who will be both...

Accountants Talk: The Canada Emergency Wage Subsidy

If you're a Canadian employer whose business has been affected by COVID-19, you may be eligible to receive a subsidy of 75% of employee wages for up to 24 weeks. This is...

What is sensorineural hearing loss and how can it be treated?

Sensorineural hearing loss can be sudden or happen gradually. In both cases, you want to seek treatment in order to improve your quality of life. With over 3 million...

How Small Businesses Can Collaborate with Local Social Media Influencers

What types of collaborations can a small business do with a local social media influencer? How do you find the influencers in your area that will align with your business...

Top 10 Small Business Costs You Should Know About

Running a small business is exciting and can be a rewarding and profitable experience. However, it comes with costs. In this article, learn about the top 10 small business...

How Much are Hearing Aid Costs in Canada?

According to the Canadian Hearing Society, nearly 10% of all Canadians report having some form of hearing disability. That’s more than 3 million Canadians, and the numbers...

How to Properly Reach Out to Social Media Influencers

What is the best way to reach out to an influencer? How do you avoid sounding like "spam" or a fake opportunity? Which is the best platform to use to reach out to...

Health Spending Accounts - the plan that sells itself

Many financial professionals choose to sell a Health Spending Account because it a highly regarded solution within the small business community. Like any product, you should...

Who can use a Health Spending Account?

Health Spending Accounts are plans for small business owners and their employees to reduce their medical expenses. In the case of a single owner only, the owner can turn...

Email Marketing is Important for Small Business. Here's Why

It's 2020 and email marketing is still a versatile tool that belongs in any marketer's arsenal. Unlike other forms of digital marketing, the business has complete control...

How Small Businesses Can Recover from the Coronavirus

COVID-19 has caused a lot of sudden changes to take place throughout Canadian businesses. Forced closures and business model changes raise particular concern for small...

How to Compare HSA Providers in Canada

It's no secret that Health Spending Accounts help small business owners save on medical expenses. However, choosing a provider can be a difficult decision because many...

HSA: Health Spending Account or Health Savings Account?

There can be confusion between a Health Spending Account and a Health Savings Account. Today, I'm going to clear up the differences for you.

RSPs: A potential key for the small business community after COVID-19

RSPs may be the key in helping small businesses in Canada get back on track when the COVID-19 crisis is over.

Digital Marketing in the Time of Coronavirus: How to Succeed

Marketing in our current situation can be difficult. Many businesses have been forced to focus on survival rather than growth. Some have even closed down as they have no...

How to Manage Remote Workers

With many workplaces shifting to remote work there are hurdles to overcome and many helpful apps available. In this article, we will explore the challenges to prepare for,...

How to Invest during a Financial Crisis

With the oil price war and coronavirus outbreak, the stock market is taking a huge hit. The majority of companies have turned to online business and remote work where...

COVID-19: Update from Olympia Benefits

Strange and uncertain times lie ahead. Here's how Olympia Benefits has prepared to ensure our systems are running smoothly and your claims are being processed in a timely...

11 FAQs About Emotional Intelligence in the Workplace

In this article, we will explore the top questions about emotional intelligence, including: what is emotional intelligence, how is "EQ" different from "IQ", why does...

Should a Small Business Owner Pay Themselves Dividends or Wages?

As a small business owner, you may wonder if you should pay yourself a salary or dividends? When should you pay it? Is income splitting allowed? This is one of the most...

Quick Guide to Prosthetic Limbs in Canada - Cost, Types, and Funding

The cost of prosthesis can be expensive, ranging from $5,000 to $50,000+, and require replacements every 3-5 years due to wear and tear. Alongside the cost of the artificial...

A Small Business Workplace Wellness Program That Actually Works

What Role Does Emotional Intelligence Play in the Workplace?

What is emotional intelligence, and what role does it play in the workplace? In this article, we will explain what emotional intelligence is, what role it plays in the...

Psychiatry vs Psychology in Canada - What's the difference?

While exploring mental health treatment in Canada, you may receive recommendations to see a psychiatrist, psychologist, counselor, or therapist. However, each has their own...

What is Workplace Culture?

What is workplace culture? What impact does workplace culture have on productivity? And, how can you create a strong workplace culture? In this article, we will explain what...

How does an employee make a Health Spending Account claim?

In a group plan, there are benefits coordinator(s) and employees. A benefits coordinator is responsible for managing the plan. This includes determining employee benefits...

6 Simple Workplace Strategies for Mental Health

The average person is expected to spend more than 90,000 hours in their lifetime working. With this many hours spent working, it's no doubt a person's mental health will be...

6 Tips to getting Financially Fit in the New Year

What does a financially fit business owner look like? They confidently take advantage of every write-off and have a tight paper trail. They've automated their instalment...

Financial Facts for Business Owners in 2020

2020 Financial Facts for Business Owners The way we created this was based around the Financial Checklist for Business Owners. For 2020 Financial Facts for Business Owners,...

Dividends vs Wages (Salary): Which Is Better for Small Business Owners?

As a small business owner, is it better for you to pay yourself in dividends or wages (salary)? What considerations do you need to make with each choice? And, how can this...

Highly Rated Small Business Accounting Software and Useful Apps

We've scoured the internet and found the top rated accounting and bookkeeping software. In this article, see a break-down of the top rated small business accounting and...

Types of Hearing Loss, Treatment, and Hearing Aids in Canada

According to the Canadian Hearing Society, nearly 10% of all Canadians report having some form of hearing disability. That’s more than 3 million Canadians, and the numbers...

19 Personal Income Tax Tips for 2019 in Canada

The biggest expense for most Canadian families is income tax. Not knowing the options available to you can mean losing money you didn't need to. In this article, we will...