James D. Peros C.A. C.P.A

TRADEMARKS  Trademarks for Your Business  Protect your business by registering proprietary names as trademarks.  If you want to protect the unique name of your business, website or domain name, logo, product or service name, or company slogan, you may wish to apply for a trademark. What Is a Trademark?  According to the Canadian Intellectual Property Office: “A trademark is a combination of letters, words, sounds or designs that distinguishes one company’s goods or services from those of others in the marketplace. A trademark is unique. It is important to a company because over time, a trademark comes to stand not only for the actual goods and services you sell, but also for your company’s reputation and brand.” There are three types of trademark registrations available to protect your business name: 1. A logo trademark : protects the design element that identifies the goods or services of a business or an individual. For example, an apple with a bite...

TAXATION Corporate Year End Before choosing a date for your year end, think about the date that works best for your kind of business.  When entrepreneurs incorporate their businesses under their respective provincial articles of incorporation, often, little thought is given to the date for the fiscal year end. Many company founders unconsciously identify the company’s fiscal year end with the calendar year end of December 31, and therefore automatically select this date. After the articles of incorporation have been issued, the business may choose any date as year end provided the number of days of the fiscal year do not exceed 371. Conventional wisdom suggests, however, that the last day of the chosen month is the most practical date since most businesses and financial institutions process client data on a month-end basis. Setting the year end date at the end of your chosen month permits an easier cut-off and reconciliation process. Factors to Consider  Inventory...