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A note on the impact of the Trump presidency on cross-border businesses

The U.S. electorate sent a strong signal to the U.S. political and economic establishment, as well as the rest of the world. In the coming days, experts will parse and examine the myriad ways that the outcome of this election will reshape broad swaths of U.S. domestic and foreign policy. Like everyone else, we will analyze and assess the impact of these changes. Our focus will continue to be on what these changes mean for Canadian businesses and investors and how they can move forward confidently in a legal and regulatory climate that has sharply changed direction.

One of the areas where we anticipate profound and early refocusing is tax policy. With republicans controlling the House of Representatives and the Senate, as well as the White House, the prospects for meaningful domestic and international tax reform are strong. Because of the degree of integration of the U.S. and Canadian economies, it has always been uniquely important for Canadian businesses to thoughtfully and efficiently navigate cross-border tax differences between the U.S. Internal Revenue Code and the Canadian Income Tax Act. While this has always been a complex area, many of the cross-border tax planning norms and expectations may be destabilized as Trump’s tax policy takes shape and hold. For example, some or all of the following could occur (perhaps at the same time)…

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Is your business taking advantage of the low Canadian dollar?

A low Canadian dollar creates an opportunity for your business to connect with prospective customers in the United States that are eager to take advantage of the difference in currency rates. Now may be a good time for you to explore introducing your business to potential customers south of the border.

Consider these three advantages to selling to U.S. customers:

1. Attractive pricing for U.S. buyers
No matter what industry your business serves, the low Canadian dollar is a fantastic opportunity to attract American buyers. Americans recognize the buying power of their dollar and look to Canada to save money on products or services they might normally buy domestically…

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7 tips for reducing expenses in your business

Maintaining tight control over both fixed and variable expenses is an essential part of maximizing cash flow and profits in your business.

There are a variety of tactics entrepreneurs can employ to rein in expenses and prepare for unforeseen costs that crop up over the course of the year.

1. Make a plan
You need to evaluate where your business is now and where you want to take it in the future. A well thought-out road map is essential to properly forecast expenses and provide for contingencies…

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5 Things You Should Do for Your Business Before Year’s End

With the holidays just around the corner, it’s easy to overlook those end-of-the-year tasks that you need to take care of. That’s why right now, you need to pay attention to these five things and mark them off your list before December 31.

1. File Corporate Paperwork

If your business is incorporated, you may need to file your Statement of Information to remain compliant. You should receive notification from your Secretary of State office with information on how to submit it; often you can do so online as well as pay a modest fee (usually $25)…

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One delicate decision: To lease or buy your space

One of the trickier decisions many entrepreneurs face is choosing between buying and leasing their place of business. There are advantages and disadvantages to both options and, like much else in business, the decision requires lots of analysis and planning. A well-financed property purchase can free up working capital that can then be used to build the business.

Because of low interest rates, many entrepreneurs have decided to buy in recent years and have seen considerable market appreciation. Besides making a good investment, they benefit from the freedom of not having to deal with a landlord when it comes to rent increases or leasehold improvements…

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