• Top 2 Profitable Purchases of 2017 - 2017 isn’t over yet but I guarantee that nothing else I buy in the next 3 months could surpass these 2 products. Read on if you want to: save time for what’s REALLY important save energy maximize your productivity and efficiency BACKGROUND I have two kids, a 3 year old and 5 year old, which […]
  • Try to make the most of your time everyday - Customers have told me I am a terrible businessman: they have been happily paying me $xx and now they will pay LESS under the new billing.  I want to reward efficiency.: 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 […]
  • CIBC Balanced Index Fund – Premium Class Units -   Why? 8.2% return in the past 5 years Lowest MER fee for good return at 0.39% The Catch?  Requires a minimum of $50,000. This is how they keep their fees low! If any investor comes in with $100 they take up the same amount of time and resources as the investor who comes with […]
  • Pay staff more and profit from it - One month from today minimum wage increases from $12.20 to $13.60 and next year it will be $15 per hour. This will have a detrimental affect on many businesses. Many businesses will suffer worse margins and less profit, here how to do the OPPOSITE: Don’t increase prices Your choice is the same as everyone else: […]
  • Downloading Bank Transactions to CSV - Please remember to choose the correct dates based on your year end! Instructions links are below to view step by step instructions on how to download your bank transactions from your corporate bank account for us to complete your year end. CIBC  RBC  (must be done every 3 months) TD: Downloading to a Spreadsheet* (CSV & CDV) Scroll […]
  • SwissBooks 2017 Fiscal Review and Outlook - NEW OFFICE HOURS & PICK-UP OPTION Our new office hours are Monday to Friday 8am to 1pm. If it is inconvenient for you to drop by during our office hours you can also arrange a time for someone to pick-up your documents after 1pm. (Edmonton area only) Background and Framework for Efficiency Focused 5 hour work […]
  • Backwards Thinking Can Make You RICH - There was an excellent comment in our highly popular post on Choosing Your Market & Pricing. Thank-you “dicky dee” for creating this idea and everything in quotes are his words. Most people think “follow your passion” is sound advice. Successful people often attribute their success to doing what they are passionate about- its just an […]
  • 9 Things You Didn’t Know About Christian Thut - He hasn’t owned a cellphone in 10 years. He has never owned any Apple products or shopped at Walmart. He makes an effort not to consume popular culture. He considers this one of his “keys to success”. He is an expert martial artist. He got his black belt in Tae Kwon Do as a kid […]
  • Fluoridation of our Water! - Many of us don’t know much about fluoride except that it is supposed to be good for your teeth and reduce cavities but there is so much I didn’t know.  As quoted from Nassim Taleb’s Anti-Fragile (Chapter 21. Medicine, Convexity, and Opacity) “The non-natural needs to prove its benefits, not the natural—according to the statistical […]
  • Using Facebook For Your Nail Salon - For our Vietnamese blog post, click here The average person spends MORE THAN HALF their waking life on electronic devices.  It does not matter how good your salon is, if potential customer’s phone searches take them to your competitors, you lose out!  You can also use the following steps to effectively get new staff.  Step […]
  • Sử dụng Facebook cho tiệm Salon của bạn - For our English blog post, click here Người trung bình dành hơn một nửa cuộc sống thức dậy của họ trên các thiết bị điện tử. Bất kể salon của bạn tốt như thế nào, nếu khách hàng không thể tìm thấy doanh nghiệp của bạn trên điện thoại, bạn sẽ mất khách hàng! (Bạn […]
  • Choosing Your Market & Pricing - There are only three markets you need to know: Average women Women in the top 20% Men in the top 20% Where is the average men? They simply don’t count in Canada– their women control their money -so direct your efforts directly to them! How do you pick your market? A) If each transaction does […]
  • Ghế Xe Car Seat cho trẻ em -Xoay ghế về phía sau càng lâu càng tốt - ENGLISH HERE Christian cao 6’1 ft và em 5’5. Không dễ dàng tìm chỗ ngồi cho trẻ em để chúng tôi có thể sắp xếp chúng trong xe của chúng tôi mà không làm phiền ghế lái xe. Sau khi nghiên cứu, chúng tôi quyết định mua hai chiếc ghế trẻ em Clek Fllo. Thông […]
  • Best Cold Prevention You’ve NEVER Heard Of! - Everybody knows that Christian is sick for 90%   80%   75 % of the year. Not kidding. So we had to research about why he got sick so easily and why I hardly got sick. (Christian says my immune system is stronger than his because I was dirty as a kid) There had to be something […]
  • Child Car Seats & Why Rear-face as long as possible - Christian is 6’1 ft tall and I am 5’5. It is not easy finding child car seats so we can arrange them in our car without it bothering the driver seat.  After EXTENSIVE research we decided upon purchasing two Clek Fllo child car seats in Noire . Details of our research are listed below for the […]
  • “If you see fraud and don’t shout fraud, you are a fraud”. – Nassim Nicholas Taleb - If it harms the collective, it is our duty to speak up until it no longer can harm the collective.  Based on strong ethical beliefs and historically rooted in Swiss tradition, THUT combines outstanding technological expertise with a high degree of foresight and responsibility. Thus it helps create and safeguard the prosperous societies: security and […]
  • Bad Accountants & Expense Inflation - Willkommen to the second article on our series on terrible accountants and what you need to watch out for before they waste your money and time.   The aim is not to harm this Chartered Professional Accountant, this post is only there to give some background information on why clients make the upgrade to SwissBooks and wonder […]
  • Book Recommendations - Efficiency: Get Rich Without Giving Up Your Life Antifragile: Things that Gain from Disorder – by Nassim Nicholas Taleb A Guide to Good Life: The Ancient Art of Stoic Joy – by William B Irvine A Guide To Rational Living Books for Parenting How an Economy Grows and Crashes – by Peter D. Schiff Your […]
  • General Holidays & General Holiday Pay - For more detailed information about General Holidays and General Holiday Pay please visit the Alberta Employment Standards website here. You can click on the holiday for specific details on that date/holiday (also linked below for 2017) or you can give Employment Standards a call for advice:  Phone: 780-427-3731   Toll Free: 1-877-427-3731 The Employment Standards […]
  • Tips & Gratuities (Vietnamese) - Bạn phải chọn một trong hai cách để trả tiền tip. (English Version here) Employees phải báo cáo / thu nhập tiền Tip của họ trên thuế cá nhân của họ. Hãy nhớ ghi lại thu nhập của bạn và tiền Tip trả cho nhân viên của bạn trong hồ sơ thu nhập của bạn (English […]
  • Tips & Gratuities (English) - You have to choose 1 of 2 ways to pay out tips as per the Canada Revenue Agency. (Vietnamese version here) Employees are expected to report their tip/gratuity income on their personal tax returns if the tips are Direct Tips. Remember to keep track of the tips paid out to your employees in your income […]
  • How to pay yourself from a corporation - Optimizing combined corporate + personal taxes depends sensitively on draws, income and dividend-salary mix.  As with all convex mathematical functions, there is only one minimal value that describes the combined taxes in terms of  its variables.  Our job is to find the global minimum of this function, that is, we find the point such that f(x0) […]
  • CDIC – Canada Deposit Insurance Corporation (Vietnamese) - Tiền của bạn có được bảo vệ vởi CDIC không? Hãy đọc để tìm hiểu làm thế nào để gởi tiền của bạn cho an toàn. English posting here. CDIC đảm bảo tiền gửi đủ điều kiện trong các ngân hàng, trust companies và loan companies với mất mát trong trường hợp thất bại, NHƯNG chỉ đến […]
  • CDIC – Canada Deposit Insurance Corporation - Is your money protected by the CDIC? Keep reading  below to find out how to keep your hard earned money safe. Tiền của bạn có được bảo vệ vởi CDIC không? Hãy đọc để tìm hiểu làm thế nào để gởi tiền của bạn cho an toàn. Vietnamese posting here. The CDIC insures eligible deposits in banks, trust […]
  • 7-Steps to 7-Figures with 11 protips - 7-Steps to 7-Figures Sell a product or a service in the form of a product  that you know better than most and that people will pay for. Determine the addressable market. The addressable market for small business accounting in Alberta is worth anywhere between $448M-$1B dollars per year.  There are 165,792 business in Alberta that […]
  • WCB Coverage - WCB insurance provides your employees with benefits and services after an injury happens. You may have to sign up for WCB coverage for your employees. Please contact WCB Alberta to find out if WCB coverage is mandatory for your corporation. If so, you must open an account within 15 days of hiring your first worker. […]
  • Steps to starting your corporation - Once you have decided to get incorporated there are a few steps you must take: Get incorporated by a lawyer or registry office with these steps listed here Forward us the documents you receive from your lawyer or registry office so we can apply for a business number for your corporation or apply for your […]
  • Recession Economics 101 - Alberta is one of the few places you can go from the bottom to the top. Arrival Before arrival in 2006  I examined the austere government under Ralph Klein and I decided this is where I will engineer my place towards the top of Alberta’s trickle: oil and gas.  Over the years, I have watched fiscal policy […]
  • Motivation does NOT work - Why do I still do accounting? I still do accounting because I want to master a scalable craft that no longer feels like work to me.  The anticipation of improving a little each day keeps me at my desk. Working for stuff, is not the way to go through life- cars and tech get old […]
  • 100% rate of return! - Charge all your business expenditures to a rewards credit card (dedicated to your business!). Pay it off in full and since you needed to make those purchases anyways, there is no reason why you should be submitting receipts on other cards or worst cash.  Keep a separate credit card for personal transactions! http://www.moneysense.ca/spend/credit-cards/canadas-best-rewards-credit-cards-fees-2017/ ➤➤➤ http://www.christianthut.com/ Share […]
  • 19-Year Old Customer Uses Clever Trick to MAXIMIZE sales - Fact. The average person spends more than half their waking life on electronic devices.  If your business (salon, restaurant, construction, ANY business) is not online, you are losing BIG MONEY to your competitors. *Tears* Search engine optimization (SEO) and technology is always changing and time consuming and therefore is costly in the wrong hands. *Tears* Not the way […]
  • Edmonton Accounting Customers Who Switched From Our Competitors Speak! - Thanks for your support!  |  Over $1 Billion in Accounting Processed In the last 10 years (I am 35) I have gone from being penniless to being able not to work another day in my life.  But saving my customers money and making their journey easier is the reason I STILL LEAP out of bed every morning. I’ve […]
  • Why Do More Edmonton-area Nail Salons Choose THUT Accounting Than Anyone Else? - Có nhân viên kiểm tra thuế (auditor) làm ở cơ quan thuế Canada Revenue Agency (CRA) báo cho văn phòng mình biết là: CRA có nguyên một đội ngủ chuyên kiểm tra lại thuế tất cả các tiệm nail trong vòng 2 năm Trong đội ngủ này CRA có nhân viên biết tiếng Việt Nam […]
  • Recommended Products -   ATTENTION: THIS POST WILL NOT BE UPDATED ANYMORE. PLEASE VISIT HERE FOR THE MOST RECENTLY UPDATED APPROVED PRODUCTS Purchases that we really recommend listed in 3 different categories with reviews of the product item is listed after the product name (if applicable): Disclosure: this post contains affiliate links.  Health products Household products Children’s products […]
  • Vehicles: Health>Wealth>Social life -   There are two types of vehicles for tax purposes: passenger vehicles and motor vehicles. CRA’s definition is sensitively dependent on the vehicle use in your business. Motor vehicles are used 90%+ to transport goods, equipment or passengers to earn income. Motor vehicles can be a qualifying SUV, van or truck (dependent on your business). […]
  • Income Records - For the Vietnamese version of this blog post please click here As per the CRA website: Keep track of the gross income your business earns.  Gross income is your total income before you deduct the any expenses, including those associated with the goods sold. Your income records should show all the following information concerning your income: the amount […]
  • Income Records – Vietnamese - For the English version please click here Kiểm tra tổng thu nhập của  doanh nghiệp bạn. Tổng thu nhập là tổng số thu nhập của bạn trước khi bạn khấu trừ bất kỳ khoản chi phí nào. Hồ sơ thu nhập của bạn cần ghi chép rõ ràng các thông tin như sau số tiền […]
  • Bad Accountants & Management Fees - Willkommen to the first article on our series on terrible accountants and what you need to watch out for before they waste your money and time. There is 1 of 3 ways to pay money out of an operating company: Repayment of shareholder loan (not an option when they were already repaid) Dividends based on shareholdings […]
  • Beating the Intellectual Yet Idiot - When you study a multitude of successful people, the path to success may not be so simple, clear and defined. A clearer set of rules is given to you by finding someone you absolutely do not want to end up like and then do the opposite: Intellectual Yet Idiot (coined by Nassim Taleb) What to […]
  • Are Your Short-Term Actions Destroying Your Long-Term Goals? - Updated 2017-09-17. Please don’t focus on short-term gains at the expense of long-term gains.  Lesson 1: Honesty. A decade of honesty will give you hundreds of customers that would trust you with their life’s work and spread the word as far as they can.  The dishonest are always in self-denial. Life is fair in the developed world […]
  • Self-made Multi-Millionaire Reveals 7 Swiss Secrets That Helped Him Get Rich - Foreign demand for Alberta’s natural resources contributed to our current situation.  Even THUT Accounting became too specialized in providing accounting to oil-field related businesses, leaving out the other sectors of the economy because of apathy. Canada’s abundance of natural resources has interesting side effects. The trickle down of wealth erodes productivity and created a nation […]
  • 4 Reasons to use a Holding Company -  1. Tax savings If certain tests are met (ie the hold co. owns more than 10% of the voting shares) your portion of the after-tax earnings of the operating company (OP CO) could be paid to the hold co by way of a tax-free inter-corporate dividend.  You would only be taxed on the portion of the dividend you […]
  • Success in a Recession - The greatest time to be alive is today! The next greatest time is tomorrow! Avoid everyone with a pessimistic outlook (complaining about things beyond their control) and watch the dollars start stacking up! Reverse-engineering is even more important when demand is static or falling. Operational efficiencies, rather than revenue growth are the keys to success. Learn to deliver the […]
  • Calculating Your Annual Advertising Budget - In order to logically budget for advertising you must take into consideration the markup on your average sale and your rent. Presence that comes with rent is one of the best advertising your money can buy and should be taken into account in determining the budget. The more time you spend on the road, the […]
  • 5 Rules To Keep Your House From Being A Bad Investment - If the housing market has a positive outlook you can consider a home less than 2.5x your gross annual household income if you make a 20% down payment.  If you can make a down payment of at least 30% you could consider a home that costs up to 4x your gross annual household income. Consider […]
  • Double your money - If you put $C ($500,000) into investments that pays r% (2.5%) each period, then after n (30 years) periods the amount of money will be P ($1,048,784). (Example is italicized) P = C (1 + r/n) nt where     P = future value     C = initial deposit     r = interest rate (expressed as a fraction: […]
  • How do I apply for a business number (BN)? -  A business number (BN) is a common identifier for businesses in their dealings with the government. Each business, whether it is a sole proprietor, partnership, corporation, trust or other organization, requires one BN for it’s legal entity. Whenever you deal with the government you must provide your BN to identify the legal entity you are […]
  • How do you want me to organize my paper work? - (Tiếng Việt dưới đây) “How do you want me to organize my paper work? Is it okay to stuff everything into an envelope/box?” It would definitely be a lot more helpful and organized for both us and you if you could: Remember to use your corporate debit card/credit card to pay for business expenses and then separate […]
  • What expenses can I claim? Can I claim a home-office? - “What expenses can I claim? Can I claim a home-office? ” This is one of the most common question asked from customers starting a new business. You can deduct any reasonable current expense that you have paid or will have to pay to earn income and you cannot deduct personal expenses. For more information click here for […]
  • Paying Canada Revenue Agency (CRA) / Receiver General - For safety reasons, we recommend you to pay online through your online banking system or through CRA’s My Payment system. You may also pay at the bank if you have the original payment form mailed to you from the CRA. (Instructions for CIBC online banking below) You can use  CRA’s My Payment system if you have an online banking account at the following financial institutions that currently participate in Interac […]
  • CRA’s My Payment System - Yes we know it looks complicated but it doesn’t have to be! Below we list step by step instructions to use CRA’s My Payment System for paying your payroll remittances, GST, corporate income tax and individual income tax. CRA My Payment System To pay your Payroll Source Deductions (PD7A) Click the link above Click “START […]
  • Filing Alberta Annual Returns - Annual returns must be filed yearly at the registry office. Each year you will receive a form in the mail around the anniversary of your corporation (see image above). If you do not file two years in a row your corporation will be automatically dissolved. To continue using your corporation you must pay $420.00 to […]
  • Getting Incorporated – Easy as 1-2-3! - Who has time to drive to a registry office and wait in line? We sure don’t! That is why we have everything sent to a registry office electronically and they just email us back. Step by step instructions are listed below for a NAMED Corporation or NUMBERED Corporation. Getting incorporated is easy. To get incorporated please email us […]
  • Canada Education Savings Grant for your child - The Canada Education Savings Grant (CESG) is money that the Government of Canada will add to your child’s savings in a Registered Education Savings Plan (RESP) that you can have set up for them. Your child could receive up to $7,200 from the Government of Canada to help pay for his or her education after […]
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