BIZBITES - small business tips& tricks

Many people believe that a mortgage is exclusively used for buying a home. However, you need to remember that there are four typical purposes that mortgages are used for. This includes purchase, refinance, equity takeout and bridge financing.   By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | Mortgage agent with Search Mortgage Corporation | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

This podcast briefly explains the steps that may be taken by a tax filer and his or her authorized representative to reply to a CRA inquiry letter to make sure that the reply looks professional, and it is supported by the relevant evidence.   By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

There are two savings schemes available for Canadian residents and citizens. These schemes are TFSA and RRSP. Based on the respective merits and demerits of both saving schemes, it appears that TFSA is more advantageous and one may opt for RRSP only once the TFSA room has exhausted. By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

This podcast provides an overview of the importance of strategic planning for small businesses in a post-pandemic business environment to ensure survival and growth.    By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

It is definitely a must to stay abreast with what is happening in the techie world, however, if operating the business does not require this new app or that new tool then it is definitely not a wise business decision to get it... By Grace Nasralla, Business Blogger | e-presence Consultants Inc. (founders of BizReflections, The small business blog) | info@e-presence.ca | www.e-presence.ca.

What truly have differentiated businesses that are meeting their monthly revenue from businesses that are struggling to survive is innovation in remodelling the business to meet customer needs in a pandemic that really hit the business community hard.  Here are 4 tips to guide a business to innovatively remodel its offerings. By Grace Nasralla, Business Blogger | e-presence Consultants Inc. (founders of BizReflections, The small business blog) | info@e-presence.ca | www.e-presence.ca.

This podcast provides an overview of possible implications for CERB recipients who wrongly claimed the CERB relief or those whose cases fall in grey areas suggesting actions that they may take to avoid penalties.   By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

This podcast provides an overview of key differences between the CERB and the CRB from eligibility, application and tax perspectives. By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

This Podcast provides an overview of the importance of co-working space in today's market. With soaring commercial lease prices now more than ever, entrepreneurs and small to medium size businesses are depending on co-working space to help their operations thrive. by Bilal El Sheikhali, CEO at Britespace Offices | 416.722.7619 | bsheikh@britespaceoffices.com | www.britespaceoffices.com

This podcast provides an overview of the rationale behind adopting a progressive direct tax system to increase government tax revenues based on the principles of equity and equality. By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

This podcast provides an overview of the importance of financial analysis for the growth and profitability of a small business by engaging a financial analyst who can suggest measures to improve growth in business profits. By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

Understanding the influence of people’s behaviour in the dynamics of networking will guide the approach used with different personalities, and in return it becomes easier to meet objectives behind time spent at business networking. Grace Kusta Nasralla, BA, Dip(hons), MOS, MCT  | Grace is business blogger, founder of Ontario Small Business Network (OSBN®) and co-owner of HUDDLESPACE™ | grace@nasralla.net | www.bizreflections.ca

This podcast provides an overview of Hexagon Business Growth Model (HBGM) that sheds light on six key factors within the control of a business owner to stimulate business growth.   By Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

As an OSBN® initiative to highlight entrepreneurship, we decided to start interviewing entrepreneurs from different industries. This is our first episode and we are starting with Dale Stoneman of LegalShield. Dale Stoneman | dstoneman@bell.net

This podcast provides an overview of various T forms used in the CRA system of taxes. The important Ts explained in this podcast include T1, T2, T3, T4, T4A and T5. Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

Listen to this introduction or the concept of Corporate Accounting Regime (CAR). This concept educates the owners of small businesses to follow some golden principles of accounting and financial management to keep their businesses solvent and floating. Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

Self-employment is a challenging but a rewarding career for those persons who possess certain attributes highlighted in this podcast. This podcast highlights the pre-requisites of being a self-employed. Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

Businesses have always struggled with the idea of being close to completion and in many cases they have fiercely tried to find ways to fight competitors.... click for more. by Grace Nasralla | Operations Executive at HUDDLESPACE | www.nasralla.net | info@e-presence.ca | 647.226.7313

This podcast highlights the importance of data-driven strategies for small businesses to bring about fusion between the operational and accounting functions for effective business management. Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com

An OSBN® BizBite by Baqar Bhatti, Chartered Professional Accountant at PAZ. This podcast provides a comparison between the US and the Canadian economies based on four key economic benchmarks. These benchmarks include the GDP, Per Capita Income, the GINI coefficient and Debt to GDP ratio. These objective measures provide analytical insight to judge the egalitarian and sustainable nature of an economy. Baqar Bhatti LLB, CPA, CMA, CGMA | CEO & Owner of Panacea at Zenith | 289-952-3494 | pazca2017@gmail.com | www.pazca.com.