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Get personalized tax advice from a qualified tax consultant in Calgary. Our team of certified professionals will help you minimize your taxes and maximize your returns. Discover how we can help to save you money on your taxes today.

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We are tax strategists who recognize that small businesses require practical solutions to address their toughest challenges in today’s business world. Our experts have years of corporate and personal tax experience that will provide you with effective tax and business strategies vital to your success.

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What is the Importance of Accounting for Small Businesses?

Accounting is a critical function for any small business, playing a pivotal role in financial management, compliance, and growth. For small business owners, effective accounting goes beyond simply keeping the books in order; it’s a cornerstone for strategic decision-making, business sustainability, and expansion. Below, we explore why accounting is essential for small businesses and how a professional partner like Tax Buddies can streamline this vital process.

Why is Accounting Important for Small Businesses?

1. Accurate Financial Tracking

   - Accounting allows businesses to maintain accurate records of income, expenses, and profits. By tracking these financial metrics, small businesses gain a clear understanding of their financial health, enabling them to make informed choices about spending, investments, and savings.

2. Budgeting and Financial Planning

   - Budgeting helps businesses allocate resources efficiently, avoiding overspending and ensuring adequate funds are reserved for essential expenses. Accounting data is foundational for creating and adjusting budgets that align with both short-term and long-term business goals.

3. Compliance and Legal Requirements

   - Tax laws and financial regulations vary by region, and maintaining compliance is mandatory. A well-structured accounting system helps small businesses adhere to these regulations, reducing the risk of audits and penalties. Accurate bookkeeping ensures that tax filings are completed correctly and on time, preventing potential legal issues.

4. Enhanced Cash Flow Management

   - Cash flow is the lifeblood of any small business. Good accounting practices allow owners to track and forecast cash flow, ensuring they have sufficient funds to cover day-to-day expenses and invest in growth opportunities. Improved cash flow management prevents financial shortfalls and supports smoother business operations.

5. Informed Decision-Making

   - Accounting insights empower small business owners to make strategic decisions that drive growth and profitability. Understanding financial data enables businesses to identify strengths and weaknesses, evaluate opportunities, and make data-driven choices about product lines, services, and market expansion.

6. Better Business Credibility and Access to Financing

   - Financial records are critical when seeking financing or attracting investors. Lenders and investors require reliable financial statements to assess a business’s viability. Accurate accounting practices increase a business’s credibility, making it easier to secure loans or investments when needed.

How Tax Buddies Support Small Businesses with Accounting and Tax Services?

Tax Buddies (located in Calgary, Canada) is a professional CPA-managed firm that specializes in assisting small businesses with tax preparation, financial reporting, and overall accounting needs. Here’s how Tax Buddies helps small businesses thrive:

1. Comprehensive Tax Services

   - Tax Buddies ensures that businesses stay compliant with tax regulations, reducing the stress and complexity of tax preparation. By providing expertise in personal tax and small business tax services, they help businesses navigate tax seasons with ease, avoiding costly penalties or errors.

2. Personalized Financial Advisory

   - Recognizing that every small business has unique financial needs, Tax Buddies offers tailored financial advisory services. Their advisors work closely with businesses to provide strategies that optimize tax savings, manage cash flow, and plan for future growth.

3. Efficient Accounting Solutions

   - With professional accounting services, Tax Buddies helps small businesses establish accurate financial records. They manage tasks such as bookkeeping, payroll processing, and financial reporting, allowing business owners to focus on their core operations while gaining insights into their financial performance.

4. Strategic Financial Planning

   - Tax Buddies guides small businesses in creating realistic financial goals and strategies. From budgeting and forecasting to investment planning, they offer practical solutions to help businesses manage expenses, enhance profitability, and grow sustainably.

5. Ongoing Support and Resources

   - Unlike larger firms, Tax Buddies provides a personalized touch, offering ongoing support throughout the year. Small business owners benefit from continuous access to expert guidance, ensuring they have the support they need to adapt to financial challenges and regulatory changes.

Conclusion

Accounting is integral to the success of any small business, providing the financial clarity and compliance needed to thrive. With a professional partner like Tax Buddies, small businesses can streamline their accounting and tax needs, gain expert financial guidance, and achieve greater peace of mind. Their services empower businesses to focus on growth, knowing that their financial management is in capable hands. For more information on how Tax Buddies can support your business, visit our website.

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Accounting Strategies for Small Business Victory: A Comprehensive Guide

Accounting serves as a cornerstone for small businesses, offering crucial financial insights, facilitating cash flow management, uncovering development opportunities, and streamlining tax filing procedures. Whether you opt to manage accounting tasks independently or enlist the support of a small business accountant in Calgary, ensuring a robust accounting setup can greatly benefit your venture.

While it’s true that running a small business doesn’t necessarily demand an intricate understanding of financial accounting, grasping basic accounting principles is essential for steering your business toward profitability. This article delves into the fundamentals of small business accounting and furnishes time-saving financial tips to propel your enterprise forward.

How Does Accounting Benefit Your Business?

The significance of accounting extends beyond mere tax compliance and financial record-keeping; it can also enhance your appeal to clientele. Here are some ways in which proficient accounting practices can make your business more attractive to customers:

Financial Stability: Maintaining organized finances provides clarity on revenue inflows and outflows, enabling you to forecast future financial trends accurately. This foresight ensures that your business remains financially secure, allowing for uninterrupted service delivery even during challenging periods.

Improved Efficiency: Accurate accounting furnishes real-time insights into your company’s financial health, aiding in informed decision-making regarding potential investments. Whether it’s upgrading equipment to enhance productivity or refining customer service offerings, reliable financial data empowers you to allocate resources judiciously, optimizing operational efficiency.

Informed Marketing Strategies: Harnessing financial records allows for a deeper understanding of expenditure patterns and cash flow dynamics, enabling more strategic marketing initiatives. Leveraging precise accounting data, you can pinpoint opportune moments to launch marketing campaigns and gauge their effectiveness with greater precision.

Understanding Small Business Accounting Basics:

Now that you recognize the value of accounting for your business, let’s delve into the essential elements of small business accounting:

Mastering Basic Bookkeeping: At the core of effective accounting lies meticulous bookkeeping, encompassing the systematic recording of all business transactions. By diligently tracking revenues and expenses, you gain valuable insights into your business’s financial performance, ensuring tax compliance and facilitating informed decision-making.

Filing Business Tax Returns: Navigating tax obligations can be daunting for freelancers and small business owners alike. However, maintaining accurate accounting records throughout the year can significantly alleviate the stress associated with tax season. From income tax payments to sales tax remittances and payroll taxes, staying on top of your tax obligations is paramount for financial sustainability.

Generating Financial Reports: Comprehensive financial reports, such as cash flow statements, profit and loss statements, and balance sheets, furnish invaluable insights into your business’s financial health. These reports serve as indispensable tools for assessing performance, guiding strategic planning, and facilitating transparent communication with stakeholders.

Organizing Your Business Finances:

To streamline your accounting processes, consider adopting the following steps:

Establish a Separate Business Bank Account: Segregating business finances from personal accounts is essential for maintaining financial clarity and ensuring regulatory compliance. Open a dedicated business bank account to manage incoming revenue and outgoing expenses efficiently.

Implement an Expense Tracking System: Maintaining meticulous records of business expenses is crucial for monitoring financial health and simplifying tax preparation. Whether through manual record-keeping or utilizing cloud-based accounting software, establishing a robust expense tracking system is indispensable for sound financial management.

Adopt an Effective Bookkeeping Method: Choose between the cash and accrual accounting methods based on your business’s needs and preferences. While the cash method records transactions upon receipt of cash, the accrual method recognizes revenue and expenses at the time of transaction, offering distinct advantages for different business models.

Comprehend Tax Obligations: Familiarize yourself with your business’s tax obligations, taking into account factors such as legal structure and industry-specific requirements. Whether as a freelancer withholding taxes or a small business owner remitting payroll taxes, staying abreast of tax regulations is crucial for avoiding penalties and maintaining financial compliance.

Assess Scalability: As your business evolves and expands, periodically reassess your accounting practices to ensure they remain aligned with your evolving needs. Consider the feasibility of outsourcing accounting tasks to professionals as your business grows, allowing you to focus on core operations while ensuring financial integrity.

Conclusion:

Effective accounting practices are integral to the success of small businesses accountant, offering indispensable insights and facilitating informed decision-making. Whether you choose to manage accounting tasks independently or enlist professional assistance, prioritizing sound financial management can bolster your business’s resilience and longevity in an ever-changing marketplace.

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Questions To Ask Before Hiring A Bookkeeper

As businesses evolve their accounting responsibilities become more complex and time-consuming. Ambitious companies end up spending a lot more time and focus on accounting when they would rather concentrate on core skills and long-term goals instead. Relying on a bookkeeper makes things immediately easier and more accurate too. And working with an outsourced bookkeeper is typically much less expensive than bringing on a specialized employee. Calgary Small Business Tax

Partnering with an outsourced bookkeeper empowers these companies to hand off routine workloads while getting strategic insights from a trusted expert. However, before making any final choice it’s important to interview the leading contenders to determine whether a bookkeeper can meet all of your needs. Make sure you get all the answers you require by asking these specific questions:

1. What is the Scope of the Services You Offer?

Some bookkeepers offer a very limited number of services while others operate like a complete accounting department. Begin by determining what kind of assistance you want and need, both now and down the road. Then look for a bookkeeper who can meet your exact requirements

2. What Service Levels Can You Commit To?

It’s not enough for bookkeepers to offer “stellar service.” Rather, they should be able to clearly articulate what service levels they can offer in terms of delivery times and accuracy benchmarks.

3. Are You An Individual or Part of a Team?

Some bookkeepers are a one-man operation while others work within large and diverse teams. One is not necessarily better than the other, but it’s important to understand the depth and breadth of resources at your bookkeeper’s disposal.

4. What Security Practices Do You Follow?

Find out what measures a prospective bookkeeper takes to ensure digital security and personal privacy. Follow up by exploring what happens if security is breached for any reason.

5. What Sort of Credentials Do You Have?

Only partner with someone who can prove they have relevant degrees, certifications, and accomplishments.

6. How Does Your Pricing Structure Work?

Learn what pricing structure is in place, and don’t hesitate to bring up hidden costs and punitive fees. Once you have a clear understanding of costs, compare those to the cost of in-house accounting and to the fees of other prospective bookkeepers.

7. How Familiar Are Your With My Industry?

Explore what kind of industry-specific expertise they have, plus whether they have worked with companies that have the same size, structure, or accounting agenda as your own.

8. What is Your Level of Expertise?

Determining what kind you need depends on your motives for hiring a bookkeeper. A generalist will be able to handle routine workloads, but a specialist can help with the more confusing or consequential aspects of accounting. Income Tax Filing Calgary

9. Where is the Work Performed?

Having one on site makes it easier to exchange information and ask questions, but it also eats up office space. Establish where and when the work is performed, plus how you prefer to exchange information.

10. Who Will I Work With Directly?

The bookkeeper you interview may not be the one you actually work with directly. On the contrary, some firms channel clients through a maze of junior associates and complex phone trees. Establishing who your point of contact is helps you understand what kind of service a bookkeeper actually provides.

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At JML Accounting Inc you receive quality and efficiency for your personal tax returns. We offer value by partnering with individuals to understand and deliver on your personal and business tax needs. Let us give you comfort and peace of mind utilizing our quality systems. We will help you understand the process from start to finish. We want you to feel confident when hiring us to do your taxes. Our team will make sure your taxes are prepared and filed the proper way, our accountants have successfully filed thousands of individual and business tax returns over the years.

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Premier Personal Tax Services in Calgary for Your Financial Success

Discover top-notch personal tax services in Calgary with S. Rikhi Professional Corporation. Our dedicated team provides comprehensive tax solutions tailored to your needs. Trust us for accurate tax preparation, efficient filing, and personalized advice. Maximize your returns and minimize stress with our expert guidance. Contact S. Rikhi Professional Corporation today for unparalleled personal tax services in Calgary that prioritize your financial success.

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Why Personal Income Tax Planning is Crucial - Know from Calgary Personal Tax Accountants

There are different strategies that will help you reduce your personal income tax liability - providing you with a better way of saving something more and pay lesser, but in legal way. Staying in touch with experienced Calgary personal tax accountants will surely the right way to help you get the right solutions. They allow you to maximize available exemptions, deductions and benefits.

It depends on your earnings; you can leverage personal tax planning techniques or refundable tax credits. There are varied ways to save more on taxes like a registered retirement savings plan contribution that can lower the net income. The profits in this plan are entirely tax-free. In simple words, you don’t have to pay taxes on dividends and interest earned from the investment.

Personal Tax Planning - Helpful in Varied Saving Options

Personal tax planning is crucial for home buyer’s plan and lifelong learning plan. You will get a chance of saving on registered education savings plan. In addition to the aforementioned benefits, you will be eligible for refundable tax credits like Charitable donations, child disability benefits, medical expense tax credits, eligible educator credits, Canada Caregiver Credits, Tuition tax credits, interest on Student loans, and a lot more.

You are advised by the Calgary personal tax accountant to increase your tax refund - mainly to minimize a large tax bill. You should ensure that you file your income tax return correctly and within the deadlines. You should also pay attention to optimal tax planning in advance with the professional Calgary personal tax accountant to ensure your year-end goals are met and all deductions and credits are professionally handled.

What If Not Doing Proper Personal Tax Planning?

If you are not following the criteria of personal tax return or income tax return, you are giving an open invitation to some financial issues. the Federal Government earns 30% of its revenue from personal income taxes. You are doing your bit to help pay for the country’s public infrastructure, schools, healthcare, and cultural activities as a Canadian Taxpayer. The tax filing deadlines for a particular year falls on April 30 of the following year. A few exceptional circumstances may extend the deadline.

If you file your returns after the filing due date, the Canada Revenue Agency or CRA charges a daily compound interest on the outstanding balance starting May 1 until you pay your taxes in full. The more delay in payment means bigger penalty.

Getting professional support from professional Calgary personal tax accountant will keep you worry-free and provide you with the right solutions. You have to make a contact as per your requirement, go through the details and get the right solutions.

Summary: Calgary personal tax accountant professionals are here to help you solve your queries and provide you with the right solutions for the issues related to income tax returns.

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Hire affordable accountants for personal tax returns in Calgary. We help you to create individual personal taxes for you and your family members.

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To file your personal income tax return in Calgary, you can do so yourself using tax software or through the assistance of a tax professional. The tax software option is becoming increasingly popular as it is quick, convenient, and can be done from the comfort of your own home. However, if you have a complicated tax situation or require additional support, hiring a tax professional may be the better option.

Contact us :- (587) 579-5255

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Tax Panning advisors

Welcome to Calgary Tax Consulting! We are your trusted partners for all your tax and financial needs in Calgary. Our experienced team of tax professionals is dedicated to providing comprehensive and personalized services to individuals and businesses.

With our extensive knowledge and expertise, we offer a wide range of services including tax planning, preparation, and filing, bookkeeping and accounting, payroll management, international tax services, and more.

[whatisonthemoon]

"Only source of funds"

Source: http://www.kelebekler.com/cesnur/terror/marmigb.htm

Introvigne's lawyer denies Introvigne's claim that the Piedmont Region is   CESNUR's "only source of funds"

By Miguel Martinez. One year ago, when the CESNUR Critical Page first came out, we offered "unlimited space" to Dr Introvigne, should he wish to reply to our statements. Now, after a year of threats, insults and censorship, we are glad to say that Dr Introvigne has taken this opportunity, albeit through his lawyer.   However, he also asks us to change the title of our essay - CESNUR uses public funds for a study labelling all its critics as 'extreme terrorists'.   His lawyer says that, if CESNUR had actually used public funds for this study, it would be committing a  

"specific felony i.e. the use of funds from the Region of Piedmont for aims other than those these funds were intended for. Funds received by CESNUR from the Region of Piedmont, in facts, are intended for the management of the library and the organization of CESNUR conferences. Any other use of these funds would amount of a criminal offense."

It is interesting to have a lawyer say so. I never claimed that CESNUR was committing a felony, only that as an Italian taxpayer I disliked having to promote the activities of a person who publicly labels anyone disagreeing with him as a "terrorist," including myself.  

The lawyer's letter also says that the electricity costs and phone bills involved in three month's computer trolling were not paid for by the Italian tax payer.  

She does not tell us however who paid for Dr Introvigne's trip to the ASR conference in Chicago. I am not saying the Piedmont government did, I am merely asking who did.  

Nor does she explain who pays for the CESNUR website which immediately published the CESNUR "study." (http://www.cesnur.org/testi/anticult_terror.htm) Indeed, the "study" has not been published anywhere else yet.  

The basic issue, however, is another:  

The study we are discussing was certainly one of CESNUR's "projects."

CESNUR claims that the Piedmont government is its main or even only source of funds.

This is what the CESNUR homepage has to say (http://www.cesnur.org/about.htm):  

"CESNUR International was recognized as a public non-profit entity in 1996 by the Italian authorities, who are the main current contributors to its projects. It is also financed by royalties on the books it publishes with different publishers, and by contributions of the members. As a public non-profit entity, accounts of its projects are filed with the Region of Piedmont, in Italy."

Not only is CESNUR supported by the State - it virtually claims that it is the State (a "public non-profit entity"), and that "Italian authorities" contribute to its "projects", not just to its book collections.  

On June 21st, 1999, Dr Introvigne signed a post, in his role as "Managing Director of CESNUR", on

NUREL

(Home Page: http://www.acs.ucalgary.ca/~nurelweb/, an academic mailing list on new religions managed by Dr Irving Hexham of the University of Calgary in Canada) - also posted in Italian on the Usenet by Introvigne's charismatic allies of

Una voce grida!

- where he explicitly said:  

[1]

"Kelebek promotes a full-scale information warfare against CESNUR, asking anti-cultists and naive Web passers-by to fload [sic] CESNUR's E-mailbox with messages of protest and to write to the State of Piedmont, CESNUR's only source of funds."

Only source of funds

... (for further information on the issue discussed by Introvigne, see

here

). Introvigne then goes on to say:  

"State funds are strictly used by CESNUR for its scholarly activities."

Now, a paper - like the "anti-terrorism" one we are discussing - presented at a convention of the Association for Sociology of Religion on August 5th, 1999, should certainly be considered a "scholarly activity," at least by its author.  

"you have obviously never been to CESNUR, otherwise you would be aware that CESNUR is mainly a LIBRARY OPEN TO THE PUBLIC (theoretically only three hours a day, actually often in the afternoons and on holidays too) which offers its users the use of its computers".

"Cossutta" states in capital letters (the emphasis is in the original) that CESNUR is "mainly a library", which is just what Introvigne's lawyer admits the Italian taxpayers pay for.  

However, it is Introvigne who claims in the very study that we are discussing that the study was conducted from the CESNUR library:  

"A small group of students associated with CESNUR's library in Turin, Italy, conducted a covert participant observation programme for more than three months extending from the original Italian to some non-Italian newsgroups as well [...] Indeed, all messages emanating from the original group involved in the research were posted from two computers in CESNUR's Turin library, using the same operating system."

So the question "who paid for the CESNUR anti-terrorism study" is the same as the question, who pays for the CESNUR library? Who pays the rent? Who bought the computers?

Introvigne's lawyer seems to confirm that these are paid for by the Piedmont government.

We therefore have two valid reasons for having chosen the title we used for our study.  

The first is, that CESNUR publicly claims that its "scholarly activities" are paid for by the Italian taxpayer, sometimes presented as the "only" financial backer, at other times as the "main" one.  

Second, even CESNUR's lawyer claims that the library is paid for by the Italian taxpayer; but - according to CESNUR militants - the library is synonymous with CESNUR, and Introvigne claims that the study we are talking about was done from the library, by people "associated" with the library.  

Of course there is another possibility, but unfortunately this would mean Introvigne is not telling the truth when he boasts of being only/mainly funded by the State.  

It may be that the Italian public authorities do not pay the expenses of the CESNUR office/library. Introvigne has previously denied that the public authorities pay for CESNUR's legal expenses; this time his lawyer denies they pay for CESNUR's study projects, its phone and electricity bills. Though her letter is anything but clear, it may actually be that we taxpayers only pay for selective purchase of some books (many books are of course donated, so in this case we the people would not even be paying for all the books in the CESNUR library).  

If Introvigne's lawyer provides evidence of this, we shall be glad to amend our original title.  

If we do so, of course, CESNUR should immediately correct its web page too, and explain who does pay for what are presumably the main expenses for any association: rent, computers, travel by the directors and so on, specifying that Italian "public authorities" only help out with marginal expenses.  

Note

[1]  

From: Irving Hexham  

To: nurel-l@majordomo.ucalgary.ca  

Subject: CESNUR  

Date: Mon, 21 Jun 1999 22:24:23 -0600 (Mountain Daylight Time)  

X-Mailer: Simeon for Win32 Version 4.1.5 Build (43)  

X-Authentication: none  

Sender: owner-nurel-l@majordomo.ucalgary.ca  

Reply-To: Irving Hexham  

From: Massimo Introvigne  

Some days ago CESNUR lawyers and the Italian Internet provider for the notorious anti-CESNUR site reached a settlement, and the provider agreed to discontinue the site. This small legal victory by CESNUR (largely symbolic, since the site can be mirrored in countries where providers have no legal liability, making actions hopelessly long) did not please the anti-CESNUR activists.  

From their new home their site Kelebek promotes a full-scale information warfare against CESNUR, asking anti-cultists and naive Web passers-by to fload CESNUR's E-mailbox with messages of protest and to write to the State of Piedmont, CESNUR's only source of funds. All this in the name of a battle against Internet censorship, while the real censorship comes from those willing to strangle CESNUR by cutting off its funding.  

Obviously State funds are strictly used by CESNUR for its scholarly activities. Legal actions are funded from the private pockets of the directors and, occasionally, from lawyers themselves who donate their work on a pro bono basis.  

The new home of the anti-CESNUR Web site is www.ummah.net, a well-known Islamic fundamentalist site. Go there, click on "action", and you realize that this is a gateway to the Muslim Brotherhood, the Talebans, and other similar organizations. You will be exposed to propaganda against the U.S. and Israel and in favour, among others but quite prominently, of Saddam Hussein, and may read anti-Christian Islamic texts (the latter have always been included in the anti-CESNUR site Kelebek: apparently its Christian anti-cult supporters did not care).  

At least, this time there is a clear international political signature.  

Friends of the anti-CESNUR Web site now know what kind of international network they are supporting. CESNUR, by the way, never dealt with Islam in its activity (oriented towards NEW religions) except that it published a booklet on Islam in its collection "Religioni e movimenti", a booklet quite well received in the mainline Islamic community.  

Massimo Introvigne  

Managing Director, CESNUR  

==========================================  

NURELWEB SITE:   Http://www.ucalgary.ca/~nurelweb   [2]   From armando_cossutta@my-dejanews.com Sun May 16 17:43:01 1999   Path: news.tin.it!area.cu.mi.it!newsfeed.gamma.ru!Gamma.RU!newsfeed.enteract.com! news.maxwell.syr.edu!nntp2.dejanews.com!nnrp1.dejanews.com!not-for-mail   From: armando_cossutta@my-dejanews.com   Newsgroups: it.discussioni.misteri   Subject: Re: Sesso, bugie e il CESNUR   Date: Sun, 16 May 1999 15:43:01 GMT   Organization: Deja.com - Share what you know. Learn what you don't.   Lines: 120   Message-ID: <7hmp25$rn0$1@nnrp1.deja.com>   References: <373d5223.88110392@news.dada.it>   NNTP-Posting-Host: 212.52.71.94   X-Article-Creation-Date: Sun May 16 15:43:01 1999 GMT   X-Http-User-Agent: Mozilla/3.02 (Macintosh; I; PPC)   X-Http-Proxy: 1.0 x22.deja.com:80 (Squid/1.1.22) for client 212.52.71.94   Xref: news.tin.it it.discussioni.misteri:4014620  

[college-girl199328]

Business at the Vulcan Country Inn is a slow afternoon on a weekday. It's so slow now employees are in the lounge. If sales go up, she could slip into a manager role. But for now, she's pouring drinks and sometimes waits hours before seeing a customer.

"Like, it's a beautiful day. But no one's walking in, dropping in," she said, nodding at a dozen empty tables and several VLTs. This is Alberta — a province facing such an intense labor shortage that it's advertising for workers in Toronto and Halifax. But it's also a place with the highest unemployment rates in the country among major cities.

For Spencer, in this town 120 kilometers southeast of Calgary, the explanation for the quiet bar is obvious. Vulcan County, long known for its agricultural base, still heavily relies on the oil and gas sector industry that, over the last 50 years, has made up more than half of the county's tax base.

So Spencer is waiting — for the new oil boom to pad wallets and translate into customers, which would lead to hiring. For years, economists in industrialized countries have tracked what has been called a "hollowing out" of middle-skilled jobs — referring to jobs like machine operators and secretaries that economists place in the middle of wage distributions.

If a person can't get a job that pays reasonably well in the middle, they often have to retrain or look at jobs requiring less skill with lower wages.

Until now, Alberta largely bucked this trend. Joseph Marchand, a University of Alberta economist, studied how past oil and gas booms led to employment in other industries and created more of these solid, middle-wage jobs.

In his research, Marchand tracked how job creation in the energy sector during boom times spun off new work in energy — around three construction jobs, two retail jobs, and 4½ service jobs for every 10 energy jobs, according to his research.

But Marchand says Alberta thinking about how to keep the middle class strong. "The question going forward is, can we … target other things that an energy boom used to do for our economy?" he said.

Alberta has long had a reputation as a provider of energy spinoff benefits from targeting the Northwest Territories. "We're the road north, right? So maybe that does mean a lot of spillovers for Alberta, too, as resources move through Alberta through the territories," he said.

It could be completely different, like the tech sector in Calgary and Edmonton, often cited as a poster child for diversification. Or it could involve innovations in Alberta's oldest industry, agriculture.

"It's about fitting what we have and what we think we're going to have in the future — where we think the jobs are going, right?" Marchand said. "There's a lot of moving parts here. And it's hard to pin down one thing.

Calgary now has an unemployment rate of 6.6 percent in Canada after Toronto, according to the 2022 Community Wellbeing Report from the anti-poverty group Vibrant Communities Calgary.

Local job fairs are drawing huge crowds. "It's insane. I wasn't expecting such a big turnout," one attendee told CBC's Calgary Eyeopener at the Telus Convention Centre last Tuesday.

In CBC Calgary's text messaging community, many people have written about the challenges they find even entry-level work. The Calgary newsroom helps shape the local employment seen this spring.

A few customers filed at the Vulcan Country Inn this weekday afternoon. With enough staff, Spencer could slide into a supervisory role and bring a couple of others in to staff a couple of others to run the floor.

In the rest of the hotel, the handful of staff often pulls double duty. Some days the owner runs the show on his own, turning over the front desk — tasks that, in boom times, might be delegated to other staff.

Given the share of Vulcan County's tax base from oil and gas, those in the bar this afternoon say they are watching for a boom. They've seen oil companies record profits. They heard when the Canadian Association of Petroleum Producers estimated oil and gas companies would invest $40 billion in 2023, surpassing pre-COVID investment levels.

But will it create all those other jobs? The oil and gas companies are major employers in the area haven't happened yet, said Jason Schneider, reeve of Vulcan County.

"We do not see a lot of expansion. The ones that are operating here, they're busy. But as far as the surge we used to see when oil prices went up? Everybody was hiring people left, right, and center," he said.

Bob Martin, born in Vulcan, ordered a beer and drank with friends at the lounge. He spent most of his career in the oil patch. He left Vulcan once for the West Coast to work in logging and commercial fishing, but he said the town has been good to him. It has a magnetic draw, always bringing him home.

Today, Martin sees the younger community eyeing tech jobs in the city, and he feels the mistrust among those who become suspicious of every boom and every bust.

Still, he thinks the community will find a way forward. "We're struggling here, but our hand will be the last on the rope before we let go, eh?" Martin said. "Nobody around here says die. We'll give 'er till the end, until somebody drags us out, pretty much."

[nspccalgary]

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