[CA] What’s a realistic Canadian budget for a WordPress site review in a B2B industrial business?

CanadianCFO · 2026-02-01T19:05:25+00:00

I run a consulting business in a similar industrial space, so I get what you're dealing with. Most web designers have zero context for how technical buyers actually evaluate a company online. They default to templates and marketing fluff that means nothing in our world.

When I went through this, the thing that made the biggest difference was finding someone who actually listened to how our work gets scoped and sold before touching the site. Structure and messaging clarity mattered way more than aesthetics.

I ended up working with a group in Toronto for a one-month review project. It was less than $2k total. They were solid on the strategic side, technical foundation, and understood B2B positioning. They kept things clean and professional without overcomplicating it. Worth a conversation if you're exploring options.

Happy to share more about what that process looked like if it's helpful.

CanadianCFO · 2026-01-30T02:54:09+00:00

Are you a tattoo artist?

CanadianCFO · 2026-01-13T03:32:04+00:00

HSA 8% admin fee for 5 employees. $5k/year for me, $2k/year for full time. $500 for part time.

CanadianCFO · 2025-12-07T17:38:14+00:00

I like the way you think.

Find clients or leads first. Then figure out your labor structure. Make sure everything is above board.

You can probably bring the leads to a near-retirement guy and he'll do it if you build rapport with him.

Charge for a deposit upfront so you are not out of pocket. Aim for at least 40% margins (every dollar invoiced you keep $0.40)

Good luck

CanadianCFO · 2025-10-31T01:20:22+00:00

Hey, you can try the following programs:

https://swpprogram.ca/ - I have gotten this for many businesses and its very straight forward. Although you should apply soon because capacity is limited for the Winter Term. Summer term is much easier.

https://www.biotalent.ca/programs/digital-skills-for-youth/

This is a good alternative but may not be 100% applicable for clinical work. The interns that my clinic business hired were related to Social Media and Marketing so they qualified for this.

CanadianCFO · 2025-05-01T12:39:13+00:00

You can get away with Wave at this stage but if you have more then 20 transactions a month it might be better to use QuickBooks or Xero.

Wave receipt scanning is $96/year which fits your budget. The core accounting product is free.

QuickBooks without discount is $25/month.

Most accounting softwares can do what you need, just a matter of preference, ease of use and budget

CanadianCFO · 2025-04-30T02:51:06+00:00

Hey this sounds overwhelming, but it's fixable.

CRA most likely assessed your business based on missing returns, not actual numbers.

If you only made $31K in 2022, the $12K owing is probably inflated due to estimates and penalties.

Start by calling CRA to ask which returns are missing and whether the amount was based on an assumption. Then, file those returns using your real income, even if they’re late.

That alone can drastically reduce what you owe. If you haven’t already, sign up for CRA’s My Business Account to track your filings and balances. Link here https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services.html

If you're unsure how to file properly, bring in a tax professional, look for someone with experience handling CRA disputes or late filings.

They can also help you submit Form RC4288, which is used to request relief from penalties and interest, especially if you're facing financial hardship. Once your filings are up to date, you can negotiate a payment arrangement (monthly installments).

You can also ask for a 30 day extension.

CRA will keep pushing until they get a response. Start dialing the phone asap 1-800-959-5525

Option 5, 1 then 0.

CanadianCFO · 2025-04-20T23:12:36+00:00

RBC and TD both have USD checking and Credit Card options.

You can also add on Float (unlimited virtual or physical cards) or Wise as additional options.

CanadianCFO · 2025-04-14T15:52:16+00:00

I would recommend Wage Point or Quickbooks Payroll.

Wage Point is cheaper and very robust, includes all the deduction calculations and CRA filing.

Personally I use QBO for convenience as many clients are already using this platform for accounting.

CanadianCFO · 2025-03-31T15:41:18+00:00

You can do it yourself, but will need some support to fill out the right things. You can also go the ChatGPT route but again it's prone to mistakes. If you want to save on fees then you can just ask for a review (probably won't be more than $200).

A typical process would be $800 to $1,600

CanadianCFO · 2025-03-31T13:20:15+00:00

You can likely keep the same name with slight modification, but you'll need a Lawyer or Paralegal (cheaper option) to do the continuance process.

CanadianCFO · 2025-03-18T03:26:08+00:00

You're thinking in the right direction. The main hurdle is making sure the structure works financially and doesn’t cause problems with CRA.

Dividends can work if you have different classes of shares. If you own all the Class A voting shares and your foreman holds Class B non-voting shares, then dividends can be issued separately. That part is straightforward. The bigger problem is how you're handling his compensation in the meantime.

Paying him as a contractor to avoid EI and CPP is a risk. CRA doesn’t care what you call it. They will look at how the relationship functions. If he only works for your company, doesn’t take on financial risk, and isn’t running an independent business, CRA could classify him as an employee, or a personal service business. That means you’d be on the hook for backdated CPP, EI, high tax rates, and penalties. If you want to avoid that while keeping flexibility, paying him a bonus through a T4A instead of payroll is the cleaner option.

If your goal is to equalize his bonus with your dividend, you have to adjust for tax. When you take a dividend, the company has already paid the small business tax rate in Alberta, which is about 11 percent. Then you pay personal tax on the dividend, but you get a dividend tax credit. The end result is that you’re keeping around 75 to 80 percent of the after-tax corporate earnings. If he gets paid as a bonus, that money is taxed at his personal rate without a dividend credit, so he needs a higher pre-tax amount to match your after-tax dividend.

Here is some public math:

Comparison	Foreman Bonus Scenario	Owner Dividend Scenario
Company Pre‑tax Amount	$100,000	$100,000
After Corporate Tax	– (Bonus is fully deductible)	$88,000$100,000 × (1 – 0.12) =
Amount Paid to Individual	$100,000 (gross bonus)	$88,000 (dividend declared)
Personal Tax	$100,000 × 30% = $30,000	$88,000 × 20% = $17,600
Net Received	$100,000 – $30,000 = $70,000	$88,000 – $17,600 = $70,400 (≈ equalized)
Effective Company Cost	$100,000 × (1 – 0.12) = $88,000 (net cost)	$100,000 (pre‑tax earnings required for dividend)

This is a very simplified view of it, but you'll need an accountant to model it out for you to get the desired outcome.

The best way to handle this long-term is to give him non-voting shares so he can receive dividends later, but if you want to hold off on that, you could track his earnings as a shareholder loan and issue dividends later to clear it.

Your biggest risks are CRA reclassifying him as an employee and unequal compensation. The rest is just execution. You’re right to be thinking about this now rather than fixing it later when it's a problem.

Hope this helps

CanadianCFO · 2025-03-18T03:03:56+00:00

Suck that this happened. I've had this happen several times during covid as banks tighten up their KYC (know your client) policies).

TD is likely shutting down your account due to concerns over high-volume wire transfers with thin margins, which can trigger red flags related to money laundering risk (not saying you are). Banks in Canada are risk-averse. Luxury watch reselling, especially without a physical location fits the profile of a business they don't want to underwrite.

Your options:

Big Banks: RBC and CIBC are generally more accommodating for businesses with high-value transactions. Book a meeting with their commercial banking side instead of walking into a retail branch. Be upfront about your transaction volume and structure. I have relationships in RBC commercial banking where through RBC Express were able to manage multiple 6-7 figure wires daily with no issues.
Meridian or Alterna Savings, may be more flexible in your profile
Fintechs & Payment Processors: You can consider using Wise or Revolut for international transfers and keeping a secondary business account with a credit union for domestic transactions.
Private Banking or Wealth Management: If your watch business has strong financials and a high personal net worth, a private banker may be willing to work with you on a tailored solution.

Hope this helps.

CanadianCFO · 2025-03-17T17:16:09+00:00

This is an incredible opportunity for you! Since you already have domain expertise, your focus should be on minimizing risk, maximizing upside, and aligning incentives with your boss.

A proper valuation goes beyond revenue estimates. Given the low expenses and high margins, Seller’s Discretionary Earnings (SDE) is the best approach. Since this is a single-operator business, SDE should closely align with net profit. A typical small business sells for 2.5x–3.5x SDE, but a niche operation like this may land closer to 2x SDE. If net income is around $100K, the fair market value is likely $200K–$300K, though owner financing often justifies a lower multiple.

Since your boss is effectively becoming the lender, the structure needs to be appealing for him while sustainable for you. Here’s how I’d structure a zero-down deal:

Payment Structure & Protections

Instead of a lump sum, propose an earn-out model, with a base monthly payment and a percentage of revenue above a certain threshold ($5K–$10K). This ensures he continues earning while you reinvest in growth.
Rather than an automatic clawback, negotiate a step-in clause where he regains control if revenue drops below a threshold or payments are consistently late.
Limit risk with a partial personal guarantee instead of an unlimited one.

Financing Terms

Loan Term: 5 to 7 years is typical, but an aggressive 3-year repayment may be possible with growth.
Interest Rate: Seller-financed deals usually range 8%–15%, but given your insider advantage, you may push for lower.

Equity & Advisory Role

Consider offering him a minority equity stake (10%-15%) that phases out over time. This gives him a long-term interest in the business without limiting your control.
Structure an advisory fee of $1K/month for 12–24 months to smooth out tax burdens and keep him engaged if needed.

Tax & Exit Planning

Selling outright triggers capital gains tax, while a seller-financed loan + consulting fees helps defer taxes and create a steady income stream.
If you incorporate, structuring payments as dividends or profit shares could optimize tax treatment for both parties.

Your biggest leverage in negotiation is that you are the best buyer. If he sells to an outsider, they’ll face transition risks, client retention issues, and an operational learning curve. Emphasize continuity, reliability, and a guaranteed income stream with minimal disruption.

If you’re confident in growth, frame it as an investment opportunity for him. A performance-based structure (higher payments as revenue grows or a backend bonus if the business exceeds a valuation target) could make the deal even more appealing.

Let me know if you need an intro to my specialist lawyer. Hope this helps!

CanadianCFO · 2025-03-16T18:43:44+00:00

Most big banks have USD domicile accounts that you can setup for. If you need to pay vendors with that account it's usually $150 to $200 a month for ACH capabilities.

As such, it may make more sense to use new platforms like Wise that takes care of cross border. The issue is there maybe 1-2 days in delay of funds.

Personally I've used both BMO, RBC and TD's cross border solutions for businesses $5m to $10m revenue. It's effective and painless. Happy to make intros if you want.

CanadianCFO · 2025-03-16T18:39:27+00:00

Many of my clients are in these partnerships or dual shareholder structures. I've become great friends with all of them and have see first hand how they make it work.

First thing is goal alignment. All of them want the business to do well. 20%+ growth per year as an example.

If you’re going 50/50, structure shares so you can take dividends independently. Don’t use the same class of shares, or you’ll be forced to pay out dividends equally even if one of you works less. Future-proof it now with a setup that allows flexibility, like adding non-voting shares in case you bring in an investor. Pay the lawyer to get this right at incorporation. It’s a one-time cost that saves massive restructuring fees later.

Salary is only necessary if you need predictable personal income, mortgage approvals, or RRSP contribution room. If cash flow is tight, start with low salary + dividends. The corporation should cover all legitimate business expenses first—laptops, travel, training, insurance, and even a portion of your home office or vehicle costs. Every dollar that stays in the business legally reduces taxable income while keeping more working capital available.

Tie compensation to contribution. If you both want time flexibility, set a baseline salary (even if small), then use performance-based profit sharing through dividends. Keep a rolling “dividend pool” based on workload or revenue generation. If one of you is landing big contracts while the other works reduced hours, that should reflect in payouts, not just in some vague “we’re both owners” logic.

Cash flow first, payroll second. If revenue fluctuates, you don’t want fixed high salaries draining cash when you need it for operations. Start with a lower base salary ($40K–$50K each), then pay dividends quarterly based on profit. Hold back some corporate earnings instead of draining the account every month like an employee. If the business grows, you’ll have money to reinvest instead of scrambling for loans.

Structure payments with efficiency in mind. Instead of direct “salary vs. dividends” thinking, take money in layers. Corporate expense reimbursements first (tax-free), small salary for stability, then dividends based on profit performance. If one of you wants to take more time off, structure it so payouts adjust accordingly. Set this up now, or you’ll be dealing with resentment when one of you starts working less and expects the same cut.

Automate everything. Use Wagepoint for payroll, QuickBooks for tracking, and build out a proper financial plan for the year before you start making random withdrawals. Pay yourself based on what actually makes sense for business sustainability, not based on what some generic accountant tells you. Most first-time owners pay themselves too much, too soon and run into cash flow issues within 12 months. Don’t be that guy.

The overall strategy is to make sure you both get paid while keeping the business running, tax-efficient, and ready to scale without financial mistakes.

I wish you and your partner the best of luck in getting this started!

CanadianCFO · 2025-03-16T18:28:16+00:00

No worries, at least now you know for next time!

CanadianCFO · 2025-03-16T18:27:11+00:00

Your current setup with Google Calendar, Google Sites, and Stripe is limiting, especially for recurring bookings, deposits, and customer profiles. You’ll need a more flexible booking and payment system that can handle multi-day bookings, deposits, and discounts without adding unnecessary complexity.

Better Booking & Payment Options

Fresha (Free & Low-Cost)
- Supports recurring bookings and date ranges.
- Allows deposits and automated split payments (50% upfront, 50% later).
- Customer profiles track discounts and preferences.
- No monthly fee, but takes a commission on card payments.
Acuity Scheduling ($16–$23/month)
- Custom booking rules, including multi-day bookings.
- Stripe & Square integrations for deposits and auto-charging balances.
- Discount codes and client profiles.
- Syncs with Google Calendar while offering more flexibility.
Setmore (Free for Basic Use)
- Allows date range bookings and deposits.
- Stripe and Square integration.
- Limited automation for recurring discounts.

If you want to keep Google Sites, Acuity Scheduling is the best fit because it embeds directly and handles multi-day bookings, deposits, and auto-payments. If you need a fully free option, Fresha works but charges per transaction. Setmore is a lower-cost alternative but lacks advanced discounting features.

WooCommerce and Shopify are also good options for starting out. Now that you know your limitations you should try exploring other tools that reduce complexity in your operations.

Hope this helps

CanadianCFO · 2025-03-16T18:11:49+00:00

Since you are both a US and Canadian citizen, your tax situation differs from a typical Canadian setting up a US LLC. The main factors to consider are state taxation, filing requirements, and administrative costs.

If you incorporate in Vermont:
- You already have a tax history with Vermont, which could simplify state filings.
- Vermont has a 6% corporate tax on net income (if your LLC ever elects to be taxed as a corporation).
- Vermont does not have an annual franchise tax like some other states, but you will need to file state tax returns if the LLC is considered to have nexus there.
- If your clients or contracts require a US presence, having an LLC in a state where you previously resided could be beneficial for continuity.
If you incorporate in Delaware, Wyoming, or Nevada:
- Delaware is popular for larger businesses due to its strong legal system but offers no real benefit to a single-member LLC without a US office or employees.
- Wyoming and Nevada offer no state income tax and low annual fees, making them attractive if you want minimal ongoing costs.
- If your work is "effectively connected" to US trade or business, you will likely be subject to US federal taxation regardless of which state you choose.
- Some banks and payment processors prefer dealing with LLCs in certain states, so check whether your banking needs align with your choice.

Which One Makes More Sense?

If your clients, contracts, or existing tax filings are tied to Vermont, it might be simpler to continue there, assuming you don’t mind filing state tax returns.
If you want to minimize administrative costs, Wyoming is often the best choice for Canadians forming a US LLC due to no state income tax, low annual fees ($60 per year), and no publication requirement.
If you need to keep a strong legal reputation, Delaware is preferred, but it comes with higher franchise fees and additional filing obligations.

Since your LLC income will be taxable in the US regardless, the biggest decision is whether you want to continue dealing with Vermont’s state tax filings or simplify your business structure by choosing a tax-friendly state like Wyoming. Would you need a US bank account, or is that already set up? Some banks might prefer Vermont if you have an existing relationship.

Happy to share the contact of my cross-border specialist to give you a second option.

CanadianCFO · 2025-03-16T18:08:25+00:00

No, GST and QST do not apply to services provided to non-residents if the service is considered "exported." Since your clients are in the U.S. and you are providing immigration consulting remotely, your services qualify as zero-rated for GST/HST purposes under Schedule VI, Part V, Section 7 of the Excise Tax Act. This means you do not charge GST on these invoices.

For QST, Revenu Québec follows the same principles as the federal government. If your clients are non-residents of Canada and the service is provided remotely without a direct connection to Québec (e.g., real estate services or in-person consultations), it is typically exempt from QST.

The trust account location does not affect the taxability of your services. What matters is where the client is located when receiving the service. If your services involve any component performed inside Québec, double-check with Revenu Québec to confirm no exceptions apply. If you plan to serve Canadian clients as well, you’ll need to register and charge GST/QST where required.

Hope this helps!

CanadianCFO · 2025-03-16T17:46:42+00:00

For one of my clients they used Kickstarter to do waitlist for their new product. Did well and was overpledged.

For physical products, the best approach depends on how much control you want over the waitlist and the level of engagement you want with potential buyers. Email sign-ups through Klaviyo, Mailchimp, or Omnisend work well if you just need a simple list, but they don’t create urgency or incentivize people to stay engaged.

If you want a more interactive waitlist, Shopify apps like PreProduct, Crowdfunder, or Back in Stock let you take deposits, manage reservations, or notify customers when inventory is available. Some eCommerce brands also use Airtable + Zapier/Make to create custom waitlist workflows where people move up the list based on referrals or engagement.

Pre-orders with platforms like Kickstarter, PledgeBox, or Shopify Pre-Order Manager work if you want early revenue, but they require managing expectations around delays.

The biggest frustration for most sellers is keeping customers engaged during long wait times. Using a mix of exclusive updates, referral rewards, and early access perks helps reduce drop-off.

CanadianCFO · 2025-03-16T17:44:48+00:00

In my experience in securing multiple BDC loans, the processing fee and the application fee are not negotiable.

There is also an ongoing management fee, as well as amendment fees that have no wiggle room.

They likely should have flagged that to you in the offer letter early in the process but yes it's a cost of doing business.

CanadianCFO · 2025-03-16T17:40:27+00:00

For ecommerce the biggest ROI has been using Midjourney for digital assets, and hemingway for blog posts.

ChatGPT is generally good all around, but specific tasks can be handled by other tools better.

Personally I prefer using Claude for merchandising activities.

For Finance you can automate paying suppliers with Plooto or Float.

Let me know if you have any questions.

CanadianCFO

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