Online Business

How much Sales Tax (GST/HST) do I charge for my Online Business

Sales tax in Canada is an ongoing challenge for many entrepreneurs! The government doesn’t make it intuitive or easy. Did you know that the government is now requiring those of us with online businesses to start charging GST for our sales?Have no fear as my claim to fame is making things like this EASY for …

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Money Leaks – Fix them to save hundreds of dollars

As we get further into fall, it’s a great time to check for Money Leaks and re-evaluate your upcoming year in business. We don’t always see these little leaks – but they do add up.Picture a bucket of water with pinholes – you may not see the water slowly dripping out, but if you collected the …

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Virtual Bookkeeping for your online business

Wait – We Don’t Meet in Person???How do people with an online business work together with a bookkeeper and accountant when they aren’t in person? Often with new clients when we first start talking and they wonder “Oh, how do we even do this?”Typically in the past, at tax time, one would take their paperwork …

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Getting Your Records Ready For Your Tax Professional

Do It Yourself or Hire a Professional?When it comes to income tax preparation, there are two types of folks: do-it-yourselfers and those who hire professionals.For many businesses, having a professional such as a bookkeeper or accountant prepare their income tax returns is the most sensible option. Not all of us have time to become tax …

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When Should I Start Paying Myself a Salary?

A potential client asked me recently whether business owners should collect a salary. The answer I gave was “it depends”. With that being said I do believe we should be compensating ourselves for the growth in our business instead of working for free. You may already be familiar with Denise Duffield-Thomas of luckybitch.com.  I’ve been following …

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Expenses You Can Write Off For Your Online Business

Business Expenses Can Help You Reduce Your TaxesWhether you are a brick and mortar business or an online business, there are many ways to write off different expenses to reduce your business taxes. As most of my clients run an online business, let’s review how and when an expense is good strategy.Tracking your business expenses …

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