Trusted Tips and Resources

Trusted Tips & Resources

The Benefits Of Saunas Explained by Chad at Synergy Strength and Conditioning a Trusted Saskatoon Fitness Expert

With a second location in Warman, Synergy Strength and Conditioning is the home of CrossFit, Weightlifting, Sports Therapy and Sports Performance in The Saskatoon, Warman & surrounding area. 
Synergy Strength and Conditioning offers a wide variety of fitness classes, workout and personal training options. Synergy Strength and Conditioning are Trusted Saskatoon CrossFit, Strength and Fitness Pros! Chad is the owner of Synergy Strength, he grew up in small-town and pursued his love of fitness at the University of Saskatchewan graduating with a degree in Kinesiology. Chad always dreamt of a different approach to Health, Fitness, and Sport that took into consideration the 4 pillars of success; Community, Family, Trust and Work. In Chad's latest tip, he shares the benefits of saunas! 

  

10 Proven Clinical Health Benefits of Sauna Use

1. Supercharge your cell power. Heat has been proven to positively impact your mitochondria, the ‘batteries’ powering your cells, helping your body naturally produce more energy and stay fit.

2. Slow down Father Time (aka aging!). Cell regeneration means you slow the aging process. 

3. Detoxify heavy metals and chemicals. Everyday exposure to potentially toxic heavy metals through a variety of sources means even the most health-conscious people still have toxins in the body. Regular sauna bathing helps excrete toxins such as arsenic, cadmium, lead, and mercury.

4. Make your heart happy and healthy. A 2018 study found that sauna bathing four to seven times per week reduces the risk of death from cardiovascular disease by as much as 58%.

5. Reduce blood pressure. Sauna heat helps widen blood vessels and improve circulation, which reduces blood pressure.

6. Optimize athletic performance. Blood flow improvements from hyperthermic conditioning (heat conditioning) send more blood to the heart, leading to an increase in plasma and red blood cell volume. That process delivers more oxygen throughout the body, fueling athletic performance.

7. Improve muscle function and recovery. As more blood flow and oxygen is delivered throughout the body, muscles increase in size and muscle breakdown is diminished. One study showed that two, one-hour sauna sessions for seven days straight increase production of the human growth hormone (HGH) by two to five times.

8. Fuel weight loss. Regular sauna use is shown to regulate the appetite, increase metabolism, and improve oxygen utilization, helping to fuel weight loss along with a reduction in body fat.

9. Boost brain function. The brain-derived neurotrophic factor or BDNF increases with regular sauna use, activating the growth of new brain cells, better maintaining existing cells, and improving neuroplasticity, the brain’s process for forming new neural connections.

10. Ignite your immune system. Heat exposure from sauna use increases the heat shock protein, stimulating antigen-presenting cells, along with releasing cytokine, thus stimulating the body’s natural immune system.

11. BONUS BENEFIT: improve emotional health and mood. When your body and brain are healthy, detoxified, and destressed, and you’ve boosted endorphins, your overall mood and emotional health improve.


“Working Hard Together!”  

You can read more glowing client testimonials and see all programs and services they offer by checking out the Synergy Strength and Conditioning listing by clicking here.

Synergy Strength and Conditioning are Trusted Saskatoon CrossFit, Strength & Fitness Pros!


Trusted Saskatoon Bookkeeping & Tax Services Books & Billing Explains Dividends Vs Salaries

Books ’N’ Billing offers full-service, cloud-based, bookkeeping services to sole proprietors, limited liability partnerships, and small corporations within Saskatchewan. Are you a small business owner? Save yourself the stress and let Shelby Prescesky the owner of Books 'N' Billing help you get your business's books in orderBooks N Billing is a Trusted Saskatoon Bookkeeping & Tax Services Specialist. In this article, she shares the difference between dividends and salary. 




Dividends Vs Salary? 



If you own an incorporated business in Canada, you have the option to pay yourself through dividends, a salary, or a combination of both. In this article, we will look at the difference between these methods of payment and the main advantages and disadvantages associated with each. We will also see some common scenarios for when a business owner may choose one method over the other.

Salary/Wages

If you are paying yourself a salary or wage, the payments become an expense of the corporation and then employment income for you personally – at the end of the year, you’ll get a T4 slip outlining your taxable earnings and deductions. The expense reduces the corporation’s taxable income, which in turn reduces corporate taxes owing.

To pay yourself a wage, the corporation will need to register a payroll account with the CRA, and then the corporation will need to withhold source deductions from each of your paychecks to later remit to the federal government. Additionally, the corporation will have to prepare T4 slips at the end of each calendar year to record your work for the year.

Why Choose Salary


Paying yourself a wage can be a way for you to earn a steady and predictable personal income. Some additional advantages of using this method would include:


  • RRSP Contribution Room; Paying yourself a wage will allow you to build an RRSP contribution room while dividend payments will not create this.

  • CPP Contributions; this is a double-edged sword, while wages will allow you to contribute to the Canada Pension Plan, as the owner of the corporation you will also be responsible for the employer’s portion of this contribution. 

  • Fewer Surprise Tax Bills; Income tax is withheld from each payment and remitted to the Receiver General. When you file your personal tax return you will have already paid income tax and will avoid a surprise personal tax bill. When paying dividends, income tax isn’t withheld and remitted which often creates personal taxes owing in April.

  • When Applying for a Mortgage; When you are attempting to qualify for a mortgage, banks like to see steady, predictable income. Earning employment income like this will help show that steady income, whereas dividend income may not be looked at as favourably. 

Dividends

Type of Transaction

Dividends are payments to shareholders of a corporation that are paid from the other tax earnings of the company. This means that dividends are not a corporate expense and do not reduce the corporate taxes paid. The flip side is that dividends carry less personal tax liability than wages because they come with a dividend tax credit.

In practice, paying dividends to shareholders of a corporation is fairly easy. Dividends are declared and cash is transferred from the corporate account to a shareholder’s personal account. Each year, the corporation must prepare and file T5s for any shareholder who received dividends.

Where it gets tricky with dividends is that they are issued and paid based on share ownership. As an example, of Terry’s Tulips :td. Want to issue $100,000 in dividends to the owners of its Class A common shares, it must do so based on the percentage of ownership of these shares. So, if Terry owns 40% of Terry’s Tulips class A shares and Teagen own the other 60%, then Terry would receive $40,000 and Teagen would receive $60,000. This can make it difficult to allocate different amounts of income to multiple shareholders of they all own the same class of shares.

Why Choose Dividends

Paying dividends can be a simple way for business owners to withdraw money from their corporation. Some key advantages include:

  • Lower Cost; Paying dividends removes the need to contribute to CPP, which reduces corporate and personal costs. The downside is that it does not allow you to contribute to the Canada Pension Plan program.

  • Simplicity; if you own 100% of your corporation, you can just declare a dividend and transfer cash from the company to your personal account without the need for payroll or remittance of source deductions.

  • Less Chance for Payroll Penalties; Payroll remittances are relentless. Usually, they have to be paid each month and late payments come with high penalties. Paying dividends eliminates the chance of late or missed payroll remittances. That being said, filling of T5s still must be completed on time once per year when paying dividends. 

Which Method Creates Less Tax?

So, the main question becomes “which method allows me to pay less Tax?”. While this is a very important question to ask, changes to the legislation beginning in 2018 have made it more difficult to reduce taxes by cheesing one method over the other. Often, the results of calculations show a fairly minimal tax saving one way or another, and there is a reason for that.

Integration

There is a tax concept called integration that legislation aims to implement. The main idea behind this is that there should be little to no difference in the overall income tax paid (personal + corporate) when comparing dividend payments and wage payments of the same amount. This works by;

  • Wages reduce corporate taxes, but in turn create higher personal taxes than dividends.

  • Dividends do not reduce corporate taxes but create less personal taxes than wages.

Dividend Sprinkling

In the past, corporate shareholders could skirt the issue of integration and tip the scales of tax savings in their direction by using a technique called dividend sprinkling. This was accomplished by spreading out dividend payments to a lower income earning spouse or adult family member. Because the spouse or adult family member are in a lower tax bracket than the person operating the business, there would be less personal tax to pay on their dividend income.

Now that it is more difficult to implement dividend sprinkling, it is especially important to consider the qualitative factors discussed earlier when deciding which method of payment to use.

Common Scenarios

Lastly, let’s look at a few common scenarios that we see and discuss what you might consider as a business owner in each case.

  • Bad at Administrative Tasks;  If making payments on time is a weakness that you have, then it may be easier and less costly to pay yourself using dividends. Wages require the regular, on-time payment of source deductions. If source deduction payments are missed or late, the penalties can add up quickly.
  • Qualifying for Financing; If you plan on purchasing a home in the near future and know that you will need to qualify for a mortgage, it may be better to pay yourself as an employee (wages/salary). Banks like to see steady income more than sporadic dividend payments.
  • Having Children / Parental Leave; If you plan on having children sometime soon and you would like to earn Maternity or Parental Benefits, then it may be better to earn income through wages. This is because withholding and remitting employment insurance premiums can enable the employee to collect maternity or parental benefits.
  • Working Income Tax Benefit; The working income tax benefit is a refundable tax credit intended to provide tax relief for eligible working low-income individuals and families. It may be beneficial to pay yourself a small salary from your business to trigger this tax credit on your personal taxes. Consider this if you have low personal or family net income for the year.


Shelby's mantra and the business tagline is one most small business owners can get behind...

Running your own business can be exciting… managing your own books can steal your joy.


If you need a second opinion, or you are at that stage in your business where you are ready to hand over the bookkeeping to a professional contact Shelby at Book N Billing today! 

 Books N Billing Bookkeeping Services Include: 

Books N Billing is a Trusted Saskatoon Bookkeeping & Tax Services Specialist 



Trusted Saskatoon Contractor Magnus Construction Is Your Partner for Healthier Buildings

Magnus Construction Services offers quality you can feel! They offer you the best specialists from demolition to complete renovations. You can trust Magnus for your residential or commercial projects, including spray foam, insulation, roofing, asbestos abatement, basement renovations, attics drywall, and finishing. Magnus Construction is a Trusted Saskatoon Contractor Specializing in asbestos safety. In their latest Trusted Saskatoon contracting tip, they discuss the dangers of asbestos and what to look out for.

Magnus is Your Partner for Healthier People and Buildings Throughout Saskatchewan

As part of Magnus's social purpose, we strive to create more awareness about the danger asbestos represents for public health. These materials are still present in millions of homes and commercial buildings today in Canada. This is why we have been working along with the mesothelioma center to fight against its threats.

Did you know that asbestos could cause cancer?

Mesothelioma is a malignant tumour caused by inhaled asbestos fibres, it appears not only in the lungs but heart and abdomen. The life expectancy is approximately 12 months.


Here we have some tips to avoid contact with asbestos, and also where you could find it at home or in your commercial business.


AT WORK

For decades, workers and homeowners had no idea asbestos exposure could lead to big issues and diseases such as mesothelioma, lung cancer and asbestosis. We are glad that more companies are aware of the danger and they are implementing processes and policies to remove asbestos in a safe way.

  • We strongly suggest you never perform asbestos if you are not trained and certified, call MAGNUS Construction Services, your expert to do this

  • Ask your employer about any asbestos exposure, health risks in your workplace

  • In case you have contact, never sweep, dust, or vacuum asbestos debris with a regular vacuum cleaner. Use wet cleaning methods

  • Offer respiratory protection if exposure limits are exceeded


AT HOME

The only way to tell if your house contains asbestos is by getting a test by a professional, a certified laboratory for testing. 

The danger appears when homeowners perform renovations that release asbestos dust into the air. You may think it is a normal process, but drilling, sawing, cutting, scraping into the walls, ceiling or floor create a health risk.

PROTECTING YOURSELF FROM ASBESTOS IN YOUR HOME

  • Before buying a house ask your realtor or inspector if there is asbestos in your home. Ask them for a report you can review

  • If your house is more than 30 years old, don’t perform any DIY renovations if you are not sure whether you have asbestos or not.

  • Never attempt to remove asbestos without help from MAGNUS Construction Service. We have all the know-how, licenses, talent, and machinery to do a safe job.


Where can we find asbestos?
  • Old Batt Insulation

  • Vermiculite insulation

  • Texture paint

  • Ceilings

  • Heat source covering

  • Door Gaskets

  • Duct Linings

  • Wall gaskets and linings

  • Recessed lighting

  • Wiring insulation

  • Fuse boxes

  • Outlets

  • Old fridges and freezers

  • Range Hoods

  • Wood Stoves

  • Clothes Dryer

  • Fireplace Logs

  • Roof membrane and shingles

  • Window caulking and glazing

  • Cement asbestos board


If you think your buildings may have asbestos contact Magnus for a free consultation, or if you feel any symptoms connect with a Doctor.



We encourage you to visit Magnus Construction's listing in the contractor's category on the Trusted Saskatoon directory to see all their services and to find their contact details. 

Questions? 

Simply reach out to Conrad or Eduardo in person about your situation. They are here to help, they don’t speak construction language on technical concepts, they are very knowledgeable and will offer you a free consultation!


“Your One Partner Solution for Healthy, Efficient, and Durable Buildings!”



Magnus Construction Services are Trusted Saskatoon Contractors Specializing In Asbestos Abatement


The Trusted Saskatoon team brag about Panko Collaborative Law & Mediation

Panko Collaborative Law & Mediation is a settlement firm focusing on family law and offering a supportive environment for families in transition or conflict. Using a holistic approach, the team at Panko Collaborative Law and Mediation walks with their clients through whatever legal issue they are involved in, empowering them to problem solve out of court. Panko Collaborative Law & Mediation is a Trusted Saskatoon Law Firm Specializing in Family Law! 

A Fresh Perspective On Dispute Resolution from The Trusted Team at Panko Collaborative Law & Mediation  

It is safe to say that not many lawyers specialize in alternative dispute resolution and mediation when it comes to resolving client disputes. What the team at Panko Collaborative Law & Mediation offers is certainly different,  and we are eager to share what they do, why they get the thumbs up from Trusted Saskatoon and what makes them stand apart from the crowd!  



The first thing to note is that the goal at Panko is NOT to go to court! 


This is a rather surprising goal for a law firm, so to understand why it helps to learn how the company came to be in the first place. We sat down with Dominique Panko, a mediator at the company, to find out more about the history, the people and the philosophy of the firm. 

Dominique's mother, Charmaine Panko is the founder and principal lawyer at the firm. To say Charmaine is a trailblazer is an understatement. She was invited to study law at the University Of Saskatchewan and eagerly commenced her studies in 2000. Charmaine was a mature student and she had already started her family. Understandably she found the workload combined with mothering nine children intense, so she petitioned the University to allow her ( and other mothers) to study part-time. They agreed, and in 2005 Charmaine graduated with a Batchelor of Law (with distinction). After law school, she joined Miller Thomson, where she was a collaborative lawyer, mediator, arbitrator, and trainer, before leaving to start her own company, Panko Collaborative Law & Mediation in 2015.

When Dominique was sharing her mother's story,  it became clear that Charmaine has a talent for problem-solving,  and that she actively seeks out unique ways to overcome objections and tackle roadblocks encountered. Now a mother of 11, Charmaine is an entrepreneur overseeing a successful family-owned and operated Saskatoon law and meditation firm, where Dominique and 3 of her other children also work.   

A Commitment To Doing Things Differently 


"We will not go to court- there are ways to go your own way that aren't so hard and ways that don't have to be a road to misery. Our goal is to get former adversaries to work together" - Dominique Panko
When asked what being trusted means to the team at Panko, Dominique replied that confidentiality was paramount, clients have to be able to trust them and they must trust the process - to do that they need to feel safe. 
The process is very different from what people are used to when struggling with disputes in the emotional areas they deal with. They specialize in mediating family law, divorce and separation, wills and estate disputes. They offer holistic support and their team is invested in finding a way to an amicable resolution for their clients. Hear what their peers have to say...

" As a fellow attorney, I'm scrupulous about who I send my friends and family to. Charmaine is a seasoned attorney who works to achieve the very best results without destroying families. Charmaine's training in mediation and collaborative divorce help her to guide families through the transitions of separation and divorce without the high cost (and emotional toll) of litigation." Carrie Luelling

Panko Collaborative Law & Mediation has several pathways to achieve a successful outcome, including:

Collaborative Law
In this process, each person involved has their own specially trained lawyer. Both lawyers commit to resolving all matters between the people involved without fighting in court. Sometimes in this process, the lawyers might suggest the inclusion of other collaborative team members such as separation coaches, child consultants, or divorce financial experts. The video below explains the process in detail. 


" Collaborative Law was able to work around my busy schedule while guiding me on the proper sequence of everything involved in a separation. There were quick responses to any and all of my questions. When it came time to have a face-to-face meeting, I found it to be a comfortable experience. Which was nice, as I was nervous about mediation, to begin with. I found everyone in the office to be very professional." A Harrison


Mediation
A process using a neutral third party to facilitate negotiations and conversation for people in disagreement to reach a mutually satisfactory solution.


Kitchen Table
Working through the agreements that need to be made in an informal way, perhaps through conversations at your kitchen table.

Do It Yourself Separation / Divorce
They can teach you the steps to ensure your separation story is a successful one by taking the CommonSense Separation Course

" We refresh our mission statement every year to ensure it remains relevant. Our role is to empower people through difficult transitions - we go where ever there is conflict and we approach challenges with a fresh perspective. We give our clients tools that they can use for the rest of their lives" - Dominique Panko, Mediator

The team at Trusted Saskatoon is extremely proud to promote and support the wonderful team at Panko Collaborative Law & Mediation. It is clear that they are passionate about helping people find a better way. The situations they are involved with are amongst the most painful, emotional and challenging times in their clients' lives. Charmaine, Dominique and the Panko team authentically care, they are actively involved in offering new ways and they are passionate about petitioning for much-needed change in family law and the justice system so it works better for all involved, but especially for the children! 

Panko Collaborative Law & Mediation Is A Trusted Saskatoon Law Firm Specializing in Family Law and Mediation 




The Trusted Saskatoon team brag about Books N Billing Bookkeeping & Tax Services

Books ’N’ Billing offers full-service, cloud-based, bookkeeping services to sole proprietors, limited liability partnerships, and small corporations within Saskatchewan. Are you a small business owner? Save yourself the stress and let Shelby Prescesky the owner of Books 'N' Billing help you get your business's books in order.Books N Billing is a Trusted Saskatoon Bookkeeping & Tax Services Specialist 

Meet Shelby Prescesky Of Books N'Billing


Whether you sell handmade soap, own a coffee shop, or drive a truck for a living, there are two things we can guarantee about your business: you earn money and you spend it. Bookkeepers are the ones who help you keep track of all that. We sat down with Shelby, the owner of Books N Billing, to find out why she decided to be a bookkeeper, what she enjoys about the job and who would be an ideal client for her. 

Shelby has always enjoyed numbers, in high school she earned University credits for pre-calculus, a subject that makes most people shudder. Shelby however, enjoyed the challenge and she elected to take an additional accounting class, it didn't take her long to decide that this is what she wanted to do for a living! 

Shelby gained her Bachelor of Commerce ( B.Com), which is an undergraduate degree in commerce and related subjects. The course is designed to provide students with a wide range of managerial skills and understanding in streams like finance, accounting, taxation and management. After finishing school, her first job on her chosen career path was with The City of Saskatoon. Shelby really enjoyed the job and the people she worked with. The role was a great experience, and she was able to learn about many different industries and see how a huge organization operates. Shelby started off doing payroll for the Police Department, and later moved into the Planning and Building departments, where she learned about the construction process and dealt with everything from books to permits!  

What Does a Bookkeeper Do? 

A bookkeeper is someone who prepares your business accounts, documenting daily financial transactions. Bookkeepers have been around as far back as 2600 BC—when records were tracked with a stylus on slabs of clay—making bookkeeping, not the oldest profession, but pretty darn close. Today any bookkeeper worth their beans uses some kind of software platform to track finances, and Shelby takes pride in always being up to date with the latest industry news and technology. 

Shelby comes from a family of female entrepreneurs, both her Mother and Grandmother operated restaurants and catering businesses, so she knows what it takes to be her own boss. Shelby is not afraid of hard work, and she decided to start her own business in 2021,  just after the birth of her 2nd child. As she said, motherhood is great preparation for entrepreneurship, and she enjoys the flexibility of setting her own work schedule at home, around the needs of her young family.

We asked Shelby what the benefits are of hiring a bookkeeper if you have a small business. She shared that her clients tell her that the peace of mind knowing that their books are in order and that filing isn't an annual scramble, cannot be overrated! Shelby makes sure to bring her expertise to the table for her clients. She prides herself on her expertise and she wants to be seen as a valuable part of her client's team. Her biggest driver is helping people,  and her enthusiasm for that is infectious! 

We asked Shelby what being trusted means to her. 

" Trust means reliability - giving your business details and accounts to someone who’s a total stranger is a risk, so it is important to operate with integrity and have ethics at the centre of all I do. I strive to be a valuable resource for clients. " - Shelby , owner Books N Billing   


As one of her clients said so well when we spoke to them as part of the unique Trusted verification process ...

" Shelby is wonderful to deal with, she answers all my questions and breaks things down in real speak. if she is not 100% sure of the answer she will go off and find the information before committing. I highly recommend Books n Billing if you are small business in need of a trustworthy bookkeeper!"  

When asked who would be an ideal client for Books N' Billing. Shelby shared that her ideal niche is small to medium businesses with less than 20 employees. She really wants to focus on serving local businesses in Saskatoon, Warman, Martensville and surrounding areas. Shelby has a wealth of experience to offer, and in particular, she has done a lot of work for clients in the trucking industry, she knows the industry well as many family members are truckers! 


Shelby's mantra and the business tagline is one most small business owners can get behind...

Running your own business can be exciting… managing your own books can steal your joy.


If you need a second opinion, or you are at that stage in your business where you are ready to hand over the bookkeeping to a professional contact Shelby at Book N Billing today! 

 Books N Billing Bookkeeping Services Include: 

Books N Billing is a Trusted Saskatoon Bookkeeping & Tax Services Specialist 








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