A tax preparer is urging small business owners and entrepreneurs throughout Canada to claim business expenses when filing their taxes. Dalton Green, owner of Green Financial online, says no matter how small the expense, even if its a stapler, should be expensed in order to reduce their tax bill each year, the Toronto Star reported.
Another ideal way to cut down on business costs is by forgoing office rent altogether. Self storage units are available to house many small businesses, replacing the expensive cost of office space with affordable storage units.
Green encourages owners not to be shy with expenses.
"There's advertising, supplies, travel, rent," Green told the news source. " It's all valid, and many times people don't think of them in that way.You're giving money to the government for no reason."
Small business may also achieve some cost savings by implementing LinkedIn to their business models. The social media tool helps businesses network, find suppliers, hire employees, advertise their offerings and even speed up sales.
Jiffy offers businesses plenty of options for Toronto storage, whether one needs to store filing cabinets or office supplies. What's more, the company is currently holding a contest for a new iPad 3, which is a device that just about every business person could use to help improve productivity.