Published in Governance Guru·Jul 28Member-onlyWill Your Agenda Take Longer than the Meeting Should Last?This tip is the third in a series of three top characteristics which make for an effective agenda. The first one is that the agenda was circulated ahead of the meeting, the second was there was nothing on the agenda that did not tie into achieving the vision of the…Governance2 min read
Published in Tax and Financial Stuff You Need to Know·Jul 24Member-onlyIgnore Sunk CostsA sunk cost is one where you cannot get your money back no matter what you do. People tend to think this amount is important and say things like, well we spend all this money so… we had better… Is the Sunk Cost “Wasted” The amount you paid for your…Business2 min read
Published in Governance Guru·Jul 24Member-onlyDoes Your Agenda Tie into Your Strategic Plan?This is the second in a series about effective meeting agendas, we talked last week about the benefits of circulating the agenda ahead of the meeting. …Governance2 min read
Published in Governance Guru·Jul 24Member-onlyQualities of a Good Meeting AgendaHave you been at a meeting where there is no agenda? Hopefully this only happened to you once and you have taken steps to prevent a reoccurrence. However, having an agenda is a pretty low bar. What is actually needed is a good agenda. How do you define a good…Governance3 min read
Published in Tax and Financial Stuff You Need to Know·Jul 19Member-onlyOpportunity CostsA sunk cost is one that does not change. If we have already spent the money and we can’t get it back then the amount is no longer relevant to our decision making because it will not change. The opposite of a sunk cost is an opportunity cost. We incur…Financial Planning2 min read
Published in Governance Guru·Jul 12Member-onlyWould Having a Better Agenda Make for a Better Meeting?An agenda is a to do list for a meeting. There are standard items on an agenda, such as calling the meeting to order and reviewing the minutes. However, every group will have their own format and topics which will appear on the agenda. Purpose of an Agenda The purpose…Governance2 min read
Published in Governance Guru·May 26Member-onlyWho Gets Your Minutes?Do your minutes get a wide circulation? We all attend meetings and at many of those meeting’s minutes will be taken. Minutes are typically the record of what was discussed at the meeting and hopefully document any action steps which were identified during the meeting. …Governance2 min read
Published in Governance Guru·May 24Member-onlyHow Do You Train a Person to Take Minutes?Taking minutes at a board meeting is required by most organizations. There are important decisions being made which need to be documented. Have you ever attended a meeting and when you read the minutes felt that the meeting was not properly captured by the minutes you were reading? …Governance3 min read
Published in Tax and Financial Stuff You Need to Know·May 24Member-onlyIncome Tax Deductions or Credits?The Canadian tax system is complicated. We expect this when we are talking about corporations or trusts. However many of those complications actually affect individual Canadians in the filing of their personal income tax returns. Is that a Tax Deduction or a Tax Credit? One of the complications is the…Taxes2 min read
Published in Tax and Financial Stuff You Need to Know·May 13Member-onlyYou May Have Until June 15 to File Your Canadian Personal Income Tax Return, but You Should Pay NowCanadian taxpayers who report self-employment income on their personal tax return have until June 15 to file their returns. However, they do not have any longer to make the payment if they owe money. Confused? This is one of those situations which confuses people who have chosen not to be…Canada2 min read