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Bittered Sling: Spice up your life with award-winning culinary and cocktail delights!

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Bittered Sling, Lauren Mote, cocktail recipes, bitters Vancouver, bitters, Jonathan Chovancek, chef, cocktails, culinary, income tax preparation Vancouver BC , bookkeeping & accounting firm vancouver BC, personal income tax vancouver, income tax services vancouver, income tax company vancouver, how to file income tax in vancouver, file income tax vancouver, business tax services vancouver, business tax return tax preparation vancouver, tax preparation company Vancouver, tax preparation services vancouver bc, e tax filing income tax return vancouver, tax filing options, Homeroom E-return, tax appointment, professional bookkeepers vancouver, professional bookkeeper, vancouver bookkeeper

It’s all about the taste! Throw in a mix of select natural herbs, fruits and spices and enjoy an original culinary or cocktail creation bursting with flavour that ranges from savoury to sweet AKA bitters! We’re down with THAT!

 

Bittered Sling, the award-winning retail line of high-quality cocktail bitters and culinary extracts, is the brainchild of mixologist Lauren Mote and world-class chef Jonathan Chovancek.

Ever since their launch in 2012,  the company has been buzzing with success, making local and international headlines.

BitterSWEET name, yo!

The name Bittered Sling derives from the May 13, 1806 edition of The Balance, and Columbian Repository (Hudson, NY) that defines a cocktail as “A stimulating liquor composed of spirits of any kind, sugar, water and bitters. It is vulgarly called a bittered sling and is supposed to be an excellent electioneering potion inasmuch as it renders the heart stout and bold, at the same time that it fuddles the head.” — Bittered Sling website

Add a dash of MAGIC to your culinary menu!

Bitters are used as a flavouring agent. Add a dash to your plate, or squeeze a few drops into your spirits or even sparkling water to create a powerful potion of exciting flavours! Yum yum yum.

Be the star of ANY party with fun and tasty recipes, like Coffee Swizzle, with Bittered Sling bitters here.

As part of our New Client Feature series, we caught up with Chovancek, who together with Mote, has over 30 years of professional experience, on healthy eating, motivation and startup advice!

When it comes to healthy and happy eating, Chovancek suggests fermented foods and drinks. Plant and seafood-focused and plenty of exercise. “Find activities you find fun—don’t get stuck in workout ruts!”

What do you enjoy most about being a business owner?

“The independence.”

What’s your favourite part about the food and beverage industry?

“The people we interact with everyday.”

Your fave food/ cocktail pairing?

“Anything with a Bittered Sling cocktail.”

What motivated you to start your own business?

“Fate.”

What’s your #1 motivator?

“My business and life partner!”

What’s your vision for the business?

“Grow, grow, grow. Unite people around the world through flavours.”

What advice do you have for other people who would like to start their own business?

“Find a niche that is under represented in the market. Allow your passions to guide you.”

How do you achieve a work/ life balance?

“Work is life!”

Who could benefit from your services?

“Anyone who enjoys delicious food and beverages. We are all about taste!”

 

 

Liquid Amber Tattoo: Local talent leaves a lasting mark with beautiful, unique art

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BC Children's Hospital, Girls Rock Camp Vancouver, Jessie Robertson, Justina Kervel, Kaplan Art Studio, Liquid Amber Tattoo, Liquid Amber Tattoo & Art Collective, Luvia Petersen, Paris, Phillipine Kaplan Art Studio, tattoo artists Vancouver, income tax preparation Vancouver BC , bookkeeping & accounting firm vancouver BC, personal income tax vancouver, income tax services vancouver, income tax company vancouver, how to file income tax in vancouver, file income tax vancouver, business tax services vancouver, business tax return tax preparation vancouver, tax preparation company Vancouver, tax preparation services vancouver bc, e tax filing income tax return vancouver, tax filing options, Homeroom E-return, tax appointment, professional bookkeepers vancouver, professional bookkeeper, vancouver bookkeeper

“Hold on tightly to the things that inspire you” — Unknown

Liquid Amber Tattoo owners Luvia Petersen and Justina Kervel, through persistence and perseverance, and lots of heart, helped shape tattoo industry into a business that is not bound by gender. | Photos by Jessie Robertson

 

“OMG, what am I doing with my life?”

Even the hugely successful tattoo artist Luvia Petersen grappled with the occasional existential life moment. She injected that energy and angst into her business, Liquid Amber Tattoo & Art Collective.

“It made me feel like I was contributing to society and to my own life in a powerful way,” expressed Petersen.

It was 2000. While strolling the charming streets of  Paris, Petersen and her business partner Justina Kervel came across a female tattoo artist Phillipine of Kaplan Art Studio. Enamored of the female-run studio in the then male-dominant industry, they came to Canada and opened up their own, mostly-female run, tattoo shop in 2001. Their goal? To contribute to the rise of females in the tattoo industry.

And, girl, has the tattoo industry grown!

“When we first started it was rare to see a female tattoo artist. Now, they are commonplace. I love that this very old traditional profession has been able to usher in an equal gender identity and at equal pay,” admitted Petersen.

Today, the spacious, brick-walled shop in the heart of Gastown is home to top local artists, who, through passion and dedication, give life to drawings that pour out of them like ink.

BC Children's Hospital, Girls Rock Camp Vancouver, Jessie Robertson, Justina Kervel, Kaplan Art Studio, Liquid Amber Tattoo, Liquid Amber Tattoo & Art Collective, Luvia Petersen, Paris, Phillipine Kaplan Art Studio, tattoo artists Vancouver, income tax preparation Vancouver BC , bookkeeping & accounting firm vancouver BC, personal income tax vancouver, income tax services vancouver, income tax company vancouver, how to file income tax in vancouver, file income tax vancouver, business tax services vancouver, business tax return tax preparation vancouver, tax preparation company Vancouver, tax preparation services vancouver bc, e tax filing income tax return vancouver, tax filing options, Homeroom E-return, tax appointment, professional bookkeepers vancouver, professional bookkeeper, vancouver bookkeeper

In turn, the shop supports and donates to an array of great causes and organizations, like BC Children’s Hospital and Girls Rock Camp Vancouver.

And the good they are doing is etched in the skin of their clients forever.

As part of our Client of the Month blog series, we caught up with Petersen, who’s “enjoyed the process of seeing [her]  business grow over the years,” on everything from her most memorable tattoo project to what makes her wake up in the morning to her ‘Aha!’ moment:

 

The fave project you were part of

“There are so many favourite moments, but one that sticks out is tattooing four generations of women. A great-grandmother, grandmother, mother and daughter. We were proud to be a part of that beautiful bonding moment in the four lives of these amazing women!”

Describe your ‘a-ha’ moment

“About 10 years into the business, I realized I really did not know what I was doing. At that point, I was able to let go and enjoy the ride a little more. I stopped trying to control everything and tried to trust in my ability to handle whatever may come in the moment.”

What’s your #1 motivator?

“Seeing my employees and my customers smile because they are enjoying being at the studio. It was always our goal to create a fun atmosphere to work in and when I see those smiles I know we are fulfilling that dream.”

What’s your vision for the business?

“To be a catalyst for artists to showcase their work, be it on skin or canvas. We want to continue to expand our art gallery and host art shows.”

What advice do you have for other people who would like to start their own business?

“Make sure you LOVE what you do. It will make the long hours and hair-pulling moments a little more tolerable.”

How do you achieve a work/ life balance?

“Haha…what’s that? Joking…You hire the right people whom you can trust to take care of the business while you are living your life.”

Who could benefit from your services?

“Our tattoo studio is for anyone looking to bring some new art into their lives.”

 

Get in touch with Liquid Amber Tattoo today here for quality, custom tattoos that you will love  for life.

 

 

How to pay yourself as a corporation

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“Siri, how do I pay myself if I’m incorporated?” | Photo by Viktor Hanacek via Pic Jumbo

So you have gone through the process of incorporating and have finally reached the super fun part: PAYING YOURSELF WOOOOOO.

When it comes to paying yourself as a corporation, you have two options: You can either pay yourself a salary or you can pay yourself dividends.

Which option makes the most sense for you is influenced by your level of income, your corporate structure and of course your accountant’s advice.

Here is an overview of what each option has to offer.

Salary

This option is usually the more expensive of the two from a company perspective.

To set this up you will have to add yourself to the company payroll and ensure the company pays all the applicable taxes on your behalf and issues you a T4 annually.

CON

The company will have to pay payroll taxes on your behalf

PRO

You accumulate more room in your RRSPs to save on personal taxes

Need Help With Your Bookkeeping? Contact Us Today

Dividends

This one requires less work to set up but can get out of hand if you don’t keep track of your spending.

To make this one work you have to:

  1. Get a bookkeeper to figure out how much money you took from the business
  2. Your accountant will declare the money you have taken from the company as a dividend & issue you a T5 from the corporation

CON

You need to keep better track of your withdrawals and can pull out more income than intended increasing your tax rate.

PRO

You avoid paying payroll taxes.

WARNING:

  1. You cannot be a contractor to your own corporation because doing so creates a loophole that causes the Canada Revenue Agency (CRA) to miss out on taxes. Naturally, they have discovered this loophole and shut this option down!!!

As always, when in doubt or unsure of which option makes the most sense for you talk to a professional. A small investment on advice can provide big savings down the line.

Need Help With Your Bookkeeping? Contact Us Today

Hack: I’ve incorporated. What’s next?

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Handshake to that! | Photo by Viktor Hanacek via Pic Jumbo

 

You did it! Took the plunge and incorporated your small business.

Great work! The next question is floating in your head is probably – Now what?

Don’t panic! We are here to throw you a bookkeeping floaty to make sure you do not sink in the sometime cold and unnerving incorporation waters.

FIRSTLY, make sure you do not forget to do the following:

  • Pat yourself on the back. You just got yourself a brand new business for gosh sake!
  • Pick the official operating date
  • Get a new set of books and accounting records

THEN…

  • Apply for new tax registration numbers
  • Open new bank account and credit card, merchant service provider *if applicable
  • Change bills to be in the name of the corporation

HACK:

  • We recommend you see a lawyer before incorporating
  • Remember to put your GST/ PST numbers on your invoice template
  • Track any personal cash you put into the corporate bank account

Next week, we look at how to pay yourself when you are incorporated.

Register for our “Should I Incorporate” webinar on August 24 at 1pm today here to learn everything you need to know before you decide to Inc. up!

Beginner’s Guide: Why incorporate?

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It’s incorporation o’clock!

Incorporating can be the best thing that ever happened to you and your small business or a wrecking ball moment that sinks you into poverty.

Here are the pros and cons of incorporating:

PROS

You are NOT your business

Separate Entity

  • Reduces Personal Liability
    • When you are a operating as a sole proprietor, your personal assets can be seized to pay your business debts. If you incorporate your business, it becomes it’s own separate entity in terms of liability and financial responsibility.

Though your business is still liable for any debts it incurs, as a shareholder your personal assets are protected.

Unlimited Lifespan

  • Unlike a sole proprietorship which begins and ends with the owner, corporations can exist regardless of ownership changes.

Tax savings

  • Corporate tax rate is 13 per cent on the first $500,000 of net income
  • Personal tax rates increase as your income increases

CONS

They say, “Nothing in life worth having comes easy…” and such is often true with business incorporation…

 

Cost to incorporate

  • $1000-$1,500 with a lawyer (one-time charge)
    • Benefit: They will look at the long-term picture to ensure you have the correct corporate structure to maximize tax savings.

More government reporting

  • Annual report for the BC Corporate Registry

More tax returns

  • Once you incorporate you will have to file a corporate tax return AND a personal tax return

    • $1,500/ year if you choose a Homeroom-recommended accountant

Increased accounting costs

  • If you thought that your quarterly bookkeeping package was on the high end, you will be rattled by the cost increase once you incorporate
  • At Homeroom, minimum $2,400/ year for a straightforward home-based business
Need help with your bookkeeping? Talk to us today!

 

Questions you should ask before you incorporate your small business

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Sometimes no matter how hard and long you meditate on a question, it takes a guiding hand of a professional to light the darkened path | Photo by Annie Spratt via Unsplash

Say, “Holla” to Homeroom’s new small business incorporation series!

Deciding to incorporate your small business can save you money and legal hassle down the road. Do it at the wrong time, though, and you’re looking at a barrage of fees coming at you faster than you can say, “Open for business!”

So how do you know whether or not you should incorporate and what do you do once you take the plunge?

Over the next few weeks, we will look at the top questions you should ask before you incorporate your small business:

Register for our “Should I Incorporate” webinar on August 24 at 1pm today here to learn everything you need to know before you decide to Inc. up!

Xtreme-EffeX: Extremely creative and innovative design with impact

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As part of our Client of the Month series, we look at Xtreme-EffeX, top custom ironworks and fabrication biz with swag!

Imagine this: A beautiful four-story staircase with glass landings. You’re at the top floor, awestruck, as you glance down at the transparent tier and see the basement at the bottom of the house.

Xtreme-EffeX,  Custom Design and Fabrication, has been making projects like this a reality for residential and commercial properties in Vancouver and throughout North America since 2007.  In fact, they designed and built the swanky residential glass staircase mentioned in the first paragraph.

The brainchild of Ryan Ramsdale, Owner/ General Manager, who built Xtreme-EffeX out of his garage, has evolved into a flourishing retail and fabrication hub that connects businesses, homeowners and developers to the most cutting-edge design trends and products.

 

 

 

Photo: Ryan Ramsdale admits he does not have too many photos of himself. It is evident that his focus has always been on his family and business.

 

With Xtreme-EffeX inventive design-build process, the in-house design team creates unique, functional and durable products that FIT.

Their motto? “Customize rather than compromise. Because custom fits!”

It’s design with impact. With passion, precision and hands-on approach, it’s high-end work that exceeds expectations, going above and beyond with their out-of-the-box approach to realize your vision no matter how seemingly far-fetched or impossible.

Surely, it is no surprise the 10-year-old business has a five-star presence in the industry with access to the best products and materials on the market and the most skilled fabricators.

Whether it’s your outdoor living space that needs sprucing up or you are looking for a special installation project, or security solutions, Xtreme-EffeX is there to save the day, and make it a lot more awesome!

With no signs of slowing down, you’ve probably seen their eye-grabbing work at upscale restaurants, lottery show homes, and designer retail stores.

As part of our “Client of the Month” series, we caught up with Ramsdale on everything from life as a business owner to advice for new startups:

 

What motivated you to start your own business?

“The experience I gained through the industry and the drive to want to continually create custom products that my team and I can be proud of.”

What do you enjoy most about being a business owner?

“Through hard work, the freedom and ability to create a schedule that benefits me, and especially my family.”

 

What’s your favourite part about the fabrication industry?

“The ability to take raw materials and create functional items, using different processes and practices, to achieve what most people don’t see as possible.”

 

What’s your #1 motivator?

“My #1 motivator would definitely be my family. Working hard and developing a business that allows me the time to be there for and with my family.”

 

Describe your ‘a-ha’ moment

“Being able to confidently rely on my team to carry out the tasks that I would typically feel to be my responsibility. Releasing the control and being pleased with the results.”

 

What’s your vision for the business?

“To have self-sufficient business with a dedicated team of motivated fabricators and designers that consistently exceed the expectations of our customers and clients in every aspect.”

 

What advice do you have for other people who would like to start their own business?

“‘With dedication to your dream, you can spend a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.'”

Anonymous quote

 

How do you achieve a work/ life balance?

“With the technology of today, it makes it very difficult to be able to turn work ‘off’. But it’s planning for tomorrow, today, then actually turning work OFF and enjoying what it is that we work so hard for.”

 

Who could benefit from your services?

“Home builders, home owners, architects, developers, or anyone with a design idea or concept that needs to be brought to life through our design/build process.”

 

Find Xtreme-EffeX online here and check out all the neat things they do on the daily to make living and work spaces way cooler!

 

Five ways your business will benefit from having a professional bookkeeper

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Girl working on her MacBook in caffe by Viktor Hanacek

Sometimes it’s easy to get caught up in the day-to-day business operations that you miss the little things that can add up to big and pricey mistakes. Whether it is a late GST filing or a missed payroll remittance payment, we are here to help with the financial side of your small business.

Here are five ways your business will benefit from having a professional bookkeeper in your corner:

  1. We take on your deadlines. We take this so seriously that we will pay for late filing penalties that you incur if we miss one of your deadlines.
  2. If you have cash-flow problems and owe money to the CRA for your various accounts, we can help prioritize your payments so that you are incurring the least amount of penalties.
  3. Do you have employees OR you pay yourself a salary and remit source deductions?
    1. It is very easy to mess up payroll. We have found this is the number one area that clients always do incorrectly if they are doing their own bookkeeping. Even though the CRA has the online payroll calculator available to everyone, we have yet to see someone that has used it correctly.
    2. Consequences of payroll mistakes:
      1. Penalties and interest for late remittances are assessed on a monthly basis.
      2. Payroll non-compliance is considered by the CRA to be the worst offence. Eg We had a client who “did” her own T4. She calculated her own deductions, remitting wrong amounts and didn’t even file the T4 resulting in late filing penalties. This was a highly educated professional in her field who mishandled payroll. Even if you only have yourself on the same salary every month, it is still possible to do it incorrectly.
  4. We will not file a return that is not reasonable by CRA standards.
    1. Our job is to keep you off of the CRA radar. We have filed thousands of returns of all types. We will let you know if a return does not make sense before we file it and could cause the CRA to investigate it. We will work with you to make it reasonable.
  5. We have not had an audit that we were not expecting.
    1. Certain types of returns are red flags for audits eg. large GST refunds. We anticipate this, let the client know in advance that we are expecting this, and tell them how we are going to handle it.

Leave the books to your professional bookkeeper buddies and focus on what you love! 🙂

Why having a professional bookkeeper is important for the success of your business

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The success of your business is OUR business. We have the big picture in mind. It is much more than posting income and expenses (though we can never have enough of that sweet click click click sound of the POSTED stamp as it graces your business receipts).

Call us your personal bookkeeping miracle workers! We will turn your messy, torn-up pile of receipts into a beautiful, sparkling file your accountant will be proud of.

Not convinced?

Here are five reasons why having a certified bookkeeper on your team of professionals is important for the success of your business:

  • Corporations: We know what an accountant needs to file your corporate year-end
  • Actually reconciling your bank and credit card to the statement balance. It is more complicated than just checking off everything in the bank rec screen in Quickbooks. Go figure!
  • Reviewing all of your accounts for accuracy and highlighting any issues so that the accountant knows where to direct his/her attention
  • We will deliver your year-end in a reliable software that the accountant is used to
  • Sole Proprietor: We know what is needed to complete your year-end so we can file your tax return and/ or GST/ PST returns

Why is all this important?

  • You will save on accounting fees if the accountant receives a clean set of books in a format they are accustomed to seeing
  • The accountant and bookkeeper speak the same language. You will save time because the accountant will ask the bookkeeper questions about the year-end instead of asking you
  • Sole proprietors: similar to above, but we will do your bookkeeping anticipating doing your tax return at the end of the year. We will look/ask you for any additional write offs that you may not have provided to us based on other businesses in your industry. Our job is to ensure that your tax liability is as low as possible while still compliant with the CRA rules
  • We will ensure that you get the maximum write-offs possible based on our experience filing thousands returns
    • We will ask you about certain items you might never have thought you could even write off eg: Business insurance, WorkSafe BC, Meals
    • We will ask you about incomplete entries we think should be there eg do you have certain months missing for rent or telephone? Did you pay for utilities?
    • Forgot your bank and credit card statements? We will send you a reminder to send us your statements with any additional business expenses that may not be in your folder
  • We will review your expense totals to make sure they are reasonable

Stay tuned for next week’s post to see how your business will benefit from having a professional bookkeeper on your team!

Why hire a professional bookkeeper?

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Sure, we’re smart, cool and fun! But as a small business owner, do you need a professional bookkeeper?

We have the big picture in mind. It’s much more than posting income and expenses. We know what needs to be done to file your year-end accurately while ensuring that your tax bill is as low as possible. (BOOYAH! And no mad taxman high-jumping it to your back!)

Over the next couple of weeks, we will elaborate on two topics:

  • why having a professional bookkeeper on your team of professionals is important for the success of your business
  • how your business will benefit from having a professional bookkeeper on your team

Need a bookkeeper, like, yesterday and can’t wait for next week’s blog post? Get the process rolling now here. 🙂