Don’t Blur the Line Between Personal and Business Finances
When you open a new business it’s very common for people to grab from one pot of money to top up another. That is not a good habit to start because it sets the stage for a lot of trouble further down the road. Keeping your business and personal finances well defined is imperative if you want to run a successful business AND stay on the good side of the Canadian Revenue Agency!
Whether you are a sole proprietor or incorporated, you must keep a clear division between personal and professional funds. Take a few minutes to watch this video that outlines some basic good habits that you can use in your own business management practices.
Kelly Melanson, CPA, CMA is the founder and owner of Kelly Melanson Professional Corporation. She and her team specialize in helping companies grow via strategic financial management practices. Since 1993, Kelly Melanson, Chartered Professional Accountant (CPA, CMA) has been helping businesses in Whitby, Oshawa, Ajax, Durham Region and the Greater Toronto Area (GTA) to reach and surpass their profit goals.
If you would like to speak to us regarding Business Accounting, financial retirement or tax planning, tax returns, bookkeeping or any of your other please contact us anytime – we’d love to chat with you.
Kelly Melanson Professional Corporation – Chartered Professional Accountant, CPA 11 Stanley Ct, #13 Whitby, ON L1N 8P9 – Local: (905) 666-5071 Toll-free: 1-800-942-5558 – Email: admin@kmpc.ca Web: https://kmpc.ca