The Balanced Book is a collection of our experienced tips, advice, and updates on matters of finance. Visit us often to see what new things we have to share with you
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Top 10 Common Bookkeeping Mistakes and How to Avoid Them
Effective bookkeeping is critical for any business, big or small. At Signature Financial, we’re committed to helping businesses in Thunder Bay and across Canada maintain pristine financial records. Here, we outline the top ten bookkeeping errors that we’ve seen businesses encounter, along with practical advice on how to avoid these common pitfalls.
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Financial Planning Post-Tax Season: What to Do with Your Refund
Each year when the tax season is behind us, many Canadians are not sure what to do with their tax refunds. This financial boost presents an excellent opportunity for strategic financial planning. Whether you’re in Thunder Bay or accessing our services remotely across Canada, Signature Financial is here to offer guidance on maximizing the potential…
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Everything You Need to Know as a First-Time Tax Filer in Canada
Filing your taxes for the first time in Canada can feel like navigating uncharted waters, whether you’re a young adult taking this step independently or a new resident familiarizing yourself with the Canadian tax system. At Signature Financial, we’re dedicated to making this process as smooth and understandable as possible. This guide will walk you…
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Common Tax Filing Mistakes and How to Avoid Them
Tax season can be a stressful time for many Canadians, filled with complicated paperwork and deadlines. Even the most organized individuals can fall prey to common filing mistakes. At Signature Financial, we’re dedicated to making tax preparation in Thunder Bay and across Canada as seamless as possible. This guide is designed to help you identify…
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Navigating Canadian Tax Essentials as a Freelancer
The gig economy is flourishing, and with it, the number of individuals embracing freelance work in Canada is on the rise. Whether you’re a seasoned freelancer or newly self-employed, understanding the tax essentials is crucial to navigating your financial landscape successfully. At Signature Financial, we specialize in simplifying the complexities of freelancer taxes, ensuring Thunder…
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Take on the New Year by Planning Your Business Budget
Whether you’re in denial or not, the new year is here! Make sure that you have a business plan in place for 2018. And that plan includes planning your business budget. For some of us, budgeting is the most painful part of running a business. Why can’t we just do what we love? While you could…
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Ten Tips to Regain Financial Control
It’s fall and we all know what that means – the holiday season is around the corner. This can be the toughest time to budget, especially for those of us who were never very good at budgeting in the first place. You still have time to get ahead of the game and prevent losing control…
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The secret to saving money and being happier this Christmas
As Christmas sneaks up on us, good intentions of saving money melt like snowflakes, and this “merry” time of year quickly escalates into a financial blow out. Then January rolls around and a nasty reality check arrives to hundreds of thousands of homes around the country in the form of a credit card bill.…
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What’s the Scariest Thing About Halloween?
Your empty wallet! The cash people sink on Halloween is absurd. The National Retail Federation (NRF) estimates Americans will spend $8.4 billion on Halloween in 2016. Seriously. According to Global News, Canadians spend $137 on average per person ($52 on a costume, $43 on decorations and $42 on candy). So if you’re a family of…
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Avoid Christmas Debt This Year
Christmas is just a few months away – is your wallet ready? If the holiday season is something you haven’t budgeted for in the past, get ahead of the game this year by starting early. (You’ll thank us come January, when there’s still money in your wallet!)
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Get 2016 Tax Ready For Your Accountant Now
It’s not too early to get tax ready for your accountant! We’re nearly three-quarters into 2016, and there’s lots you can do today to save you from the stress of tax time in January.
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What Is ‘Net Worth’ and Why Should I Calculate Mine?
Net worth is any asset owned minus any debt owed. Everything you own falls under “assets” and everything you owe falls under “liabilities”. So if you added up the value of your assets (everything you own: home, cars, savings accounts, investments, etc.) and subtracted the value of all of your liabilities (debts such as:…
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7 Easy Ways to Teach Kids Financial Literacy
Money is a part of our everyday lives, yet there’s still a ton of stigma around it. Some think it’s rude or impolite to talk about finances. But with Canadian household debt hitting a record high of $1.92 billion last year… Perhaps not discussing finances has been partly responsible for getting us into…
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How I Saved Money By Avoiding Cash Registers For One Whole Year
It’s no wonder the majority of Canadians find it hard to save money. Just about everywhere we go, we’re encouraged to spend. Everything is designed for you to “BUY! BUY! BUY!” and those four magical letters S-A-L-E suck us into purchasing stuff we really don’t need.
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Will I Get a Tax Refund?
“Will I get a tax refund?” It’s the most common question people ask us at Signature Financial. Simply put, if you didn’t pay enough tax throughout the year, you will not get a tax refund. Instead, you’ll likely owe the government money.