Quick Tips: CRA: When are corporate taxes due?
In this video Arielle from Fix My Books will be teaching you how to find out when your corporate tax payments are due. This is different from when your T2 corporate tax return is due.
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/corporation-payments/paying-your-balance-corporation-tax.html#d_dy
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
How To: Five Steps To Conduct a Mid-Year Financial Assessment
A mid-year financial assessment is the best way to evaluate whether or not you are on target to hit your goals. It’s also the perfect time to pivot if you’ve gotten off track. However, to point yourself back in the right direction, you have to know where you’re currently standing…
How To: Where to find your PD7A in Quickbooks Online (Canada)
In this video Arielle from Fix My Books will be showing you where to find the PD7A form in Quickbooks Online.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: Four Tips for Spring Cleaning Your Bookkeeping
This time of year is an excellent time to analyze and manage all of your business accounts. Once all of your information for the previous year is filed away, take the time to do some spring cleaning in your books and in your back office as well.
Here are four tips for spring-cleaning your books and back office:
Quick Tips: CRA: When is my GST/HST Payment Due?
In this video Arielle from Fix My Books will be teaching you how to find out when your GST Payments are due.
CRA My Business Account Sign In: https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: Avoid These Common MistakesWhen Filing at the Last Minute
It's common practice for people to wait until the last minute to file their taxes.Rushing through the process increases the risk of making errors that would delay your tax return, add interest to any unpaid taxes, or result in an audit.Here are some tips to help you get your tax return in on time and error-free.…
Quick Tips: CRA: When are taxes due for Individuals?
In this video Arielle from Fix My Books will be teaching you when your taxes are due as an individual.
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
How To: Get Invoices Paid Quicker
In most businesses, collections are made only when there’s a need to offset a pending bill. This is because collection calls are not only tedious but could also create tension with customers, thus jeopardizing the business’s future. Follow these tips to get clients to pay faster for your services…
How To: CRA: How long to get my refund? (How to check CRA Processing times for refunds)
In this video Arielle from Fix My Books will be showing you how to use the CRA processing times calculator and when to expect your refund.
https://www.canada.ca/en/revenue-agency/corporate/contact-information/check-cra-processing-times.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
How To: CRA: When are Instalments required? How to calculate and pay Instalment payments.
In this video Arielle from Fix My Books will be showing you how to find out if you need to make instalment payments and how to calculate and pay Instalment payments.
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t7b-corp/corporation-instalment-guide.html#D_y_nd
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
How To: Add Tax To Your Website - Canadian Edition
Nicole Hart from Supernova Sites and Arielle A Smith from Fix My Books for this in depth tutorial on how to add taxes to your Wordpress website - Canadian edition.
This video explains the basics of tax every Canadian entrepreneur needs to know including where to set up a GST/HST number, when you should start charging tax, how to charge tax on different products (physical vs. downloadable), and how to charge your customers the correct tax % by province.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
How To: Adjust/amend an HST Return (Canada)
In this video Arielle from Fix My Books will be showing you how to adjust/amend an HST Return.
CRA Login: https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services.html
Check out how to file an HST Return here: https://youtu.be/MtZYniyArV4
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: Whats the difference between Sales Revenue Gross Profit and Net Profit?
In this video Arielle from Fix My Books will be teaching you the difference between:
1. Sales/ Revenue / Top Line
2. Gross Profit
3. Net Profit / Bottom Line
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: What are Canada Revenue Agency (CRA) Installment Payments?
In this video Arielle from Fix My Books will be teaching you about what Installment Payments are, who's required to make these installment payments and how to find out if you're required to pay, when you need to pay and how much.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
How To: Pay HST Owing (Canada)
In this video Arielle from Fix My Books will be showing you how to pay your HST owing using:
1. CRA Make a Payment - https://bit.ly/3NAvNVH
2. PaySimply - https://www.paysimply.ca/cra/
3. Plastiq - https://www.plastiq.com/cra-blp/
Check out how to file an HST Return here: https://youtu.be/MtZYniyArV4
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: What is Earned Income according to the Canada Revenue Agency?
In this video Arielle from Fix My Books will be teaching you about the different types of income that constitutes Earned Income. This is important as this affects your Registered Retirement Savings Plan (RRSP) Contribution room!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: What is a Tax-Free First Home Savings Account (FHSA)
In this video Arielle from Fix My Books will be teaching you about the new Tax-Free First Home Savings Account (FHSA) that will be available this year (2023).
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Quick Tips: What is a Notice of Assessment / Notice of Reassessment from the Canada Revenue Agency (CRA)?
In this video Arielle from Fix My Books will be teaching you the difference between:
1. Express Notice of Assessment
2. Notice of Assessment
3. Notice of Reassessment
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
What is a Tax-Free First Home Savings Account (FHSA) (aka First Time Home Buyer Savings Account)
The Canadian Government has proposed the introduction of the Tax-Free First Home Savings Account (FHSA) in the 2022 budget. This new registered plan would give prospective first-time home buyers the ability to save towards their first home by allowing account holders to contribute up to $40,000 over the lifetime of the plan on a tax-free basis.
An FHSA combines the features of a Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA). Similar to a Registered Retirement Savings Plan (RRSP), contributions would be tax-deductible, and withdrawals to purchase a first home, including from investment income, would be non-taxable, like a Tax-Free Savings Account (TFSA).
In the 2023 tax year, Canadians will be allowed to contribute the full $8,000 annual limit during the year.
Quick Tips: T1 vs. T2 Vs. T3 vs. T4 - What's the difference?
In this video Arielle from Fix My Books will be teaching you guys the difference between a T1, T2, T3 and T4.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!