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

Better ways of viewing computer screens can reduce eye strain and increase productivity.  Regardless of occupation, we all spend an inordinate amount of time staring at computer, laptop or smartphone screens. The result is often eye strain known clinically as computer vision syndrome (CVS). Researchers suggest that between 50% and 90% of individuals who work with monitors for more than two hours a day suffer some form of symptom. Shifting Focus  Working in front of a computer monitor stresses the eye muscles because our eyes move across the screen in the same way over and over again. Regardless of whether your eyes are jumping between screens or moving between the screen and a document on your desk, your eye muscles become fatigued. The need of the eyes to constantly shift focus and direction plus the monitor’s flickering, contrast, and glare just adds to the stress on the eye that creates eye strain. The Age Factor  Eye stress is also affected by age. As indivi...

Manage cash flow better by projecting future tax liabilities.  Unforeseen circumstances often leave owner-managers short of the cash needed to pay federal and provincial taxes. Unfortunately, many owner-managers consider unpaid tax bills to be the same as unpaid trade credit. They are not. Unpaid taxes can cause a lot of problems. Ensuring funds are available to pay obligations to the Canada Revenue Agency (CRA) should be a top priority for any business, whether incorporated or a sole proprietorship.  Withholding Taxes  Every self-employed business owner or owner-manager is obligated to collect HST as well as deductions for employment insurance, Canada Pension Plan, and income taxes. These amounts are collected “in trust” from the employee or client on the understanding that the funds will be remitted to the CRA on their behalf. In theory, the business should just collect the money and set it aside in a separate account until the required filing date. However, ...

  Combining the skills and experience of older workers with the enthusiasm of younger employees makes a more productive workplace. Of Canada’s 19.7-million labour force, about 5.0 million persons (25%) are 55 years of age or older, most of whom are between 55 and 65. (Only about 4% of the labour force is over 65.) This pool of older workers is a rich resource of knowledge and skills. Introduction of an age-management strategy within every organization will provide opportunities for both the younger and older worker while increasing the efficiency of the business. Both government and industry are attempting to facilitate the intergenerational transfer of knowledge, but education takes time; the accumulation of skills through experience can take a long time. Organizations, with their daily demand for traditional as well as new skills, cannot just wait for the education system to provide the new skills.   As can be expected, a person’s work abilities may decline wit...

  New technology makes training easier and more effective. Training is an essential part of building and maintaining any successful business. Technological advancements have increased the amount and types of knowledge required to perform a task. There is still a need for some traditional skills, but gone are the days when a new employee learned a fixed body of knowledge and applied that knowledge for their entire career. New training methods are making the training process faster, more efficient and less expensive.   Sending employees off to training courses used to be the only means by which a business could keep workers up to date. But that too appears to be ending as faster, more efficient, less expensive means of upgrading employees flood the work world. Technological advancements have made work less demanding but have extended the knowledge base required to complete a task. Employers need to realize that access to information on a “need-to-know” basis is a...

  New device does more than just locate studs. Contractors, especially those whose business is renovating older homes, always need to know the location of studs, wiring or pipes. A simple job of retrofitting a bathroom in an old building, for example, may suddenly become a nightmare when the drill, reciprocating saw, screw, or nail hits electrical wiring or pipes because the wiring or pipes are not where they should be under the modern Building Code. Locating wires and pipes can be an especially serious problem if the previous owners were do-it-yourselfers who disregarded the Code. Magnetic and electronic stud finders are very helpful for locating studs, but they do not provide an image, nor are they effective in finding electrical wiring or “seeing” through concrete.   The Walabot produces a 3D image on a cell phone or laptop. 3D Imaging A new development in imaging allows a contractor to produce a 3D image of what is behind the wall on a cell phone or laptop. ...

Owner-managers should discuss Canada Revenue Agency (CRA) changes to employee vehicle allowances with their CPAs before announcing any changes to company policy. To keep up with the rising costs of operating vehicles, Revenue Canada has increased the maximum tax-exempt car allowance deductible for employees to 55 cents per kilometre for the first 5,000 kilometres, and to 49 cents per kilometre for distances travelled in excess of 5,000 kilometres. If you live in the Northwest Territories, Nunavut or the Yukon, the per-kilometre rate has increased to 59 cents for the first 5,000 kilometres and to 53 cents for distances exceeding 5,000 kilometres.   The rates and application are based on a calendar year. As can be expected, any employee claim for the exemption must be supported by documentation. Employees must keep a travel log for each vehicle indicating: date starting point of business trip destination purpose of the trip vehicle starting kilome...