Can AI do your bookkeeping? An honest answer for Canadian small business owners You’re thinking about using AI to do your bookkeeping, aren’t you? I won’t tell. And I’m not going to talk you out of it. AI handles a lot of this well, and it’s getting better fast. Here’s the short answer. If you’re
Can AI Do Your Bookkeeping in Canada? An Honest Answer Read More »
Before you gather a single receipt, decide how you’re going to file. It sounds backwards, but where your return ends up changes what you need to pull together at the start. Doing it in tax software, handing it to a professional, or filling in the forms yourself each asks for slightly different pieces in slightly
How to file your taxes as a sole proprietor: DIY, tax software, or hire someone? Read More »
Three form numbers come up the moment you start a business in Canada, and most people can’t tell you which one applies to them. Here they are in one breath: the T1 is the personal return every Canadian files; the T2125 is the business schedule that sits inside your T1 if you’re a sole proprietor;
Somewhere around year two or three, this happens to almost every growing business owner I work with. You’ve just scraped together the money to pay last year’s tax bill, probably because you didn’t set it aside as you went, and then a letter arrives from CRA asking you to start paying this year’s tax in
Home office claims are one of CRA’s favourite things to review — and one of the easiest to get wrong. Here’s what self-employed Canadians can actually claim, and the three rules that catch people.
Home office expenses: what you can actually claim, and the part everyone gets wrong Read More »
If you run an online business in Canada, sales tax is one of those things that feels fine to ignore — right up until it isn’t. You cross a revenue line you didn’t know existed, or a customer asks for your GST number, and suddenly you’re not sure whether you should have been charging tax
How to Charge GST/HST for Your Online Business in Canada Read More »
Wrap up the year Year-end checklist for Canadian businesses “It would be so nice, come tax time, to not spend an entire week trying to find things — and instead just send it off.” That’s the goal of this checklist. A little bit of work in December and January saves you the lost week in
Year-End Checklist for Canadian Small Business Owners Read More »
Identify and Stop Money Leaks in Your Business As fall progresses, it’s the perfect time to identify money leaks and plan for the upcoming business year. These small leaks might go unnoticed, but they can accumulate over time. Imagine a bucket with tiny holes—while you might not see the water dripping out, collecting it in
Stop Money Leaks: Save Hundreds of Dollars with These Simple Fixes Read More »
Bookkeeping, done for you Virtual bookkeeping services in Canada “I’m at the end of another tax year with no tracking done. So I download everything from the bank and type it into a spreadsheet. There has to be a better way.” That’s a real message from a Canadian business owner, and if it sounds familiar,
Virtual Bookkeeping Services for Canadian Small Businesses Read More »
Most letters from CRA are not audits. About nine in ten of the ones I’ve handled for clients over the years were reviews, and a review is one question about one thing on one year’s return. You answer it, you send the receipts, it closes. The fear is almost always bigger than the letter. I
Got a letter from CRA? The difference between a review and an audit, and what to do next Read More »
