It was a great turnout at Breezy Bend Country Club for the last Chamber luncheon of the season. The 29 guests were treated to a delicious meal prepared by the world class chefs at Breezy Bend.
The Business Profile featured Steven Moon of King’s Services.
Steven purchased King’s Septic Services in 2004 and La Salle Septic in 2008. A new shop was built in the Headingley Business Park in 2013 and a modular fencing division was added in 2016. The company underwent re-branding at the end of 2018.
King’s Services provides portable, heated and VIP toilets, septic tank and field repairs, full plumbing services, drain and sewer line inspection and repair, temporary fencing for both commercial and residential customers.
King’s Services have 35 full-time employees and six trucks. They are located at 35 Headingley Street, in Headingley. For more information, please visit their website at: KingsServices.com
Sheldon Heidebrecht of FBC was the featured speaker. FBC is a family business that was founded in Ontario 66 years ago. There are offices located across Canada, from Kelowna, B.C. through to Nova Scotia. Sheldon in an account executive with the Winnipeg office.
FBC is the only firm of its kind in Canada that offers year round membership. The 300+ specialists will visit their clients at their place of business, home or farm. They specialize in helping the self-employed professional, small business owner and farm operator with their business tax needs.
Last year the CRA performed over 28,000 audits which an average of $18,000 being assessed per audit. Sheldon suggests that business owners always have their books in an “audit ready” condition and in compliance with CRA standards. The key is be organized with receipts. He suggests spending 30 minutes every three months organizing your business receipts. It is important to use a software program that cannot be manipulated past tense. He suggests going online and uploading a photo of your receipt to the cloud. An app called “Mile Catcher” is a great way to keep track of your business mileage.
Sheldon discussed the different tax deductions used by home offices and home based businesses. Home repairs, property taxes, utilities, and home insurance are all possible deductions. He explained how a donation that does not receive a charitable tax receipt may be used as a promotional expense. Also, it is important to keep your business and personal accounts separate and be aware of all current deductions applicable to your business.
FBC has four pillars of service: planning, preparation, consultation and protection. As long as the information provided to FBC is accurate, they will take full responsibility to CRA.
For more information on the services offered by FBC, please visit the website: FBC.ca