My billing over the past 10 years was tiered based on income levels: $380K, $880k, $1.5 million, $6 million. The new billing is based on expenditures processed: more expenditures means more transactions to process, review and more after-work in terms of CRA compliance.
This move is also in response to CRA’s increased audits of different expense account and industries.
If you are going to do something, do it as best you can. There is no sense in working 30 years, sacrificing your health and time with your children if you can make the same money in 10.
Efficiency is only important when a resource is scarce. As a young person with a whole lifetime ahead, money was the priority. As we get older, time and attention is the priority. (Attention is important, for example, Spending 1 hour QUALITY time with your kids, interacting with them and reading to them is much better than spending 2 hours with them in front of the television)
I want to maximize my limited time left on earth and want to improve my craft each day. Office works are not capable of more than 5 hours of focused deep work each day. The best way for me to improve is to work with big numbers on limited accounts. Big numbers mean the errors of others would compound to adversely affect my customers.
Businesses that revolve around E-commerce, beauty/aesthetics, food/health are all great businesses that could effectively give you $20,000 or more a month in after-tax income and being in Alberta, there is still some opportunity left in the oil/pipeline sector as well.
Keeping in mind, Pareto’s principle aka the 80/20 rule, 80% of the effects come from 20% of the causes and in our case, 80% of the inefficient use of time comes from 20% of the customers. By refusing service to companies that do not use their time and resources efficiently guarantees we don’t have to lose time with audits. This, in turn, gives us more time to spend with our valued clients.
The all-inclusive flat fees including GST are as follows:
$8,800 Industry: Annual expenses over $1 million
$7,100 Enterprise: Annual expenses between $450k and $1m
$5,600 Venture: Annual expenses between $200k and $450k
$4,700 Boutique: Annual expenses between $100k and $200k
$3,900 Micro: Annual expenses less than $100k
$3,200 Startup: No payroll & revenue below $380k
Save 1 free month of bookkeeping for every new client you refer to us. Your referral will also get 1 free month of bookkeeping and you’ll receive a thank-you for introducing them to a service that at a cost of 1% or less, legitimately reduces the 3 sources of negative cash flow that matter (taxes, payroll and housing) by 3-30%. If you have those 3 sources of negative cash flow figured out, leasing a Benz for $1,000 of month really can never make a difference.