Business Advice Blog

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Business Advice Blog

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I am thinking of opening a food takeaway, As far as I know, this kind of business required planning permission from the council, What I'm confussed about is that do I start renting the property I want to use for my business and then try to get the permission or do I Apply for council aproval and then renty the property after I have the council aproval. What is the normal procedure in these situations? [+]

Hi All, If a lawyer provided professional legal advice (say $5000) on opening a corporation, timing, planning, type of corp. considering my situation etc.. and it's a rental business, is this legal fee considered: 1. Tax deductible expense this year considered as "expense to earn income" and therefore reducing net income this year? OR: 2. Considered Capital Cost meaning if it's an investment property for example this expense of $5000 will be added to the original purchase price when selling the property therefore will reduce capital gain when the property is sold in the future? The expense is legitimate and both options help reduce the tax paid obviously , I’m just not sure which is the preferred option by most accountants(?) THANKS, Neil ps. I'm from Canada

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Business Advice Blog

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Business Advice Blog

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Business Advice Blog

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Business Advice Blog

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Business Advice Blog

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Business Advice Blog

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WHAT IS THE BEST AND QUICKEST WAY TO BUILD BUSINESS CREDIT? TOO MANY COMPANIES WANT ME TO PAY FOR IT AND I DON'T KNOW IF THEY CAN HELP AT ALL. [+]

The best routes to take are to research the process of starting a business as well as the industry you're interested in. I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box. Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links. Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant: * How to Start and Run a Successful Consulting Business by Gregory F. Kishel, Patricia Gunter Kishel * The Consultant's Quick Start Guide: An Action [+]

Business Advice Blog

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Business Advice Blog

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Business Advice Blog

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Business Advice Blog

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