The Fuel Accounting blog page
Should the business pay for the owner’s tax in Profit First?
If you’re implementing our Profit First Cash Management System (PFCMS) in your business, you already know the power of allocating money with purpose. You’ve set up your separate bank accounts, and you’re diligently distributing funds to Profit, Owner’s Pay, Taxes, and Operating Expenses. But one question that often comes up is: Why should the business pay for the owner’s tax?
Business Relationships Defined at Last!!
If you strip a business down to its core, what remains? It’s not the products, services, or technology—it’s relationships. Whether between employees, leaders, or customers, the strength of these relationships determines whether a company thrives or struggles.
ChatGPT Free, Plus, or Pro? Which is better?
In the ever-evolving landscape of artificial intelligence, staying ahead means leveraging the best tools available. ChatGPT, a frontrunner in AI-driven conversational agents, has recently unveiled its “Pro” subscription tier priced at $200 per month. This new offering promises unlimited access to the advanced 4o and o1 models, setting it apart from the existing Plus subscription.
GST/HST Rules for Supplying Goods and Services to First Nations Customers in Canada
When a GST/HST-registered supplier provides goods or services to First Nations customers in Canada, the tax treatment depends on various factors, including the location of the transaction and the specific provincial rules that apply.
How Small Businesses Can Win Big with AI: Lessons from the Leaders
Artificial Intelligence (AI) isn’t just the tech industry’s shiny new toy. According to Harvard Business Review’s recent article, What Companies Succeeding with AI Do Differently, organizations that thrive with AI share a few core habits—habits that even the smallest businesses can adopt. If you’re running a boutique retail shop, a local service business, or a micro-agency, here’s how you can leverage AI successfully without a big corporate budget.
Dext’s new Mileage Claims Feature
Dext has recently introduced a game-changing Mileage Claims Feature, designed to streamline the reimbursement process for employee travel expenses. This powerful tool can help businesses stay organized and compliant with Canadian tax regulations. We were already huge Dext fans (it’s our go-to tool for receipt and bill data entry), and this new feature makes it even more useful.
Do you even know if you have enough Working Capital?
For small businesses, managing working capital—the cash required for daily operations—is crucial to implementing this system effectively. Our Profit First Cash Management System (PFCMS) revolutionizes cash management by prioritizing profit over expenses.
SMART”Y” Goals? What’s That?
Introduced in the 1980s, the SMART framework provides a clear and structured way to set and achieve objectives. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. By following this formula, individuals and organizations can set goals that are clear, actionable, and realistic.
How Small Businesses Can Win Big with AI: Lessons from the Leaders
Artificial Intelligence (AI) isn’t just the tech industry’s shiny new toy. According to Harvard Business Review’s recent article, What Companies Succeeding with AI Do Differently, organizations that thrive with AI share a few core habits—habits that even the smallest businesses can adopt.
Unlocking the Power of AI Automation for Small Businesses
In today’s fast-paced world, small businesses must embrace innovation to stay competitive. One of the most transformative tools available is artificial intelligence (AI). AI automation platforms like Zapier and Make (formerly Integromat) are particularly accessible and can revolutionize how small businesses operate by automating repetitive tasks.
