Business

How to Charge Sales Tax (GST/HST) for Your Online Business in Canada

Leave a Comment / Online Business, Sales Taxes, Saving Money /

Determining Sales Tax (GST/HST) for Your Online Business Navigating sales tax in Canada can be a daunting task for many entrepreneurs, especially with the recent requirements for online businesses to charge GST. But don’t worry—I’m here to simplify the process for you! Key Considerations$30,000 Revenue Threshold: If your global income exceeds $30,000, including earnings from the U.S. […]

How to Charge Sales Tax (GST/HST) for Your Online Business in Canada Read More »

5 Essential Tips to Simplify Year-End Tax Preparation for Your Online Business

Leave a Comment / Business, Online Business, Sales Taxes, Taxes /

As the year draws to a close, it’s the perfect time to organize your tax documents and ensure a smooth transition into the new year. Whether you’re a seasoned business owner or new to the online business world, these tips will help you streamline your year-end tax preparation. Download  5 Tips to Get Your Tax

5 Essential Tips to Simplify Year-End Tax Preparation for Your Online Business Read More »

Stop Money Leaks: Save Hundreds of Dollars with These Simple Fixes

Leave a Comment / Online Business, Saving Money /

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 another bucket

Stop Money Leaks: Save Hundreds of Dollars with These Simple Fixes Read More »

Virtual Bookkeeping: Managing Your Finances Without In-Person Meetings

Leave a Comment / Online Business, Saving Money, Software /

Wondering how to collaborate with a bookkeeper or accountant without meeting in person? You’re not alone. Many online business owners initially question how virtual bookkeeping works. In the past, tax time meant gathering piles of paperwork to hand over to your accountant. But what happens when everything is digital? How do you track digital receipts, income,

Virtual Bookkeeping: Managing Your Finances Without In-Person Meetings Read More »

Preparing Your Records for Tax Season: A Guide for Online Businesses

Leave a Comment / Business, Online Business, Taxes /

Getting Your Records Ready for Your Tax Professional When it comes to preparing income taxes, business owners often face a choice: tackle it themselves or hire a professional. For many, enlisting the help of a bookkeeper or accountant is the most practical option. Tax laws can be complex, and mistakes can be costly, so why not

Preparing Your Records for Tax Season: A Guide for Online Businesses Read More »

Worried about an audit? Top 7 Triggers Explained

Leave a Comment / Business, Sales Taxes, Taxes /

Recently, I joined a conversation about tax audits and the common fear surrounding them. It became clear that many people are anxious about audits due to the unknowns involved. Unless you’ve experienced one, it’s hard to know what to expect. So, what might trigger an audit? Here are some common factors that could prompt the Canada

Worried about an audit? Top 7 Triggers Explained Read More »

When Should I Start Paying Myself a Salary?

Leave a Comment / Business, Online Business, Personal Development & Mindset /

A potential client recently asked me whether business owners should draw a salary. My response was, “it depends.” However, I firmly believe that business owners should compensate themselves for their contributions and growth, rather than working for free. You’re a Supplier Too There are numerous reasons why paying yourself is crucial. Many, including myself, follow the Profit

When Should I Start Paying Myself a Salary? Read More »

Do You Really Need a Bookkeeper? Discover When to Hire for Your Business

Leave a Comment / Business, Online Business /

Why You Shouldn’t Hire a Bookkeeper For Your Business Right Away As your business grows, many will suggest outsourcing financial management to a bookkeeper to save time and reduce stress. However, this might not be the best choice for your business or your finances. Contrary to popular belief, hiring someone to manage your money might not

Do You Really Need a Bookkeeper? Discover When to Hire for Your Business Read More »

Tax Expense Guide: Expenses You Can Write Off For Your Online Business

Leave a Comment / Business, Online Business, Saving Money, Taxes /

Business Expenses Can Help You Reduce Your TaxesLet’s talk about everyone’s favorite topic: tax write-offs! (Okay, maybe not everyone’s favorite, but definitely something that can put money back in your pocket.) As a business owner, understanding tax deductions isn’t just about saving money—it’s about smart business strategy. While tracking expenses might not sound thrilling, think of

Tax Expense Guide: Expenses You Can Write Off For Your Online Business Read More »