If a business incurred a non-capital loss in its current fiscal year, or did have a loss last year, it can carry this loss back and apply it against a profit it made in any one of its previous three tax years. Applying this loss against a profitable year will provide a refund of some portion of the taxes that were paid [...]
Posts Tagged ‘P&L’
Taxes: Making the inevitable as painless as possible
by David Logan - Tuesday, July 7th, 2009Though it is a cliché, it does bear repeating as a simple, unavoidable truth – nothing is as certain as death and taxes. And while we can always hope that the first is far off, the latter will occur with frequent and unavoidable regularity.
As a business that may be struggling, or proactively looking at ways [...]
Cost Reduction: A penny saved is a penny earned
by Marian Kneitz - Friday, July 3rd, 2009As a business owner, you are acutely aware of the importance of maintaining positive cash flow. But just because you’re in the black, it doesn’t mean your costs are being managed as effectively as they could be. And if the bottom line is under pressure, taking a hard look at costs can make all the [...]
Understand and control your cash flow, don’t let it control you
by David Logan - Sunday, June 28th, 2009The issue
Business people know that their business cannot effectively operate without proper cash flow. The issue is to gain an understanding of the details of your businesses cash flow needs, anticipate problems and have solutions. In general if your cash flow has deteriorated and the bank is calling you to repay a demand loan or [...]
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