You may want to print this list of questions, add your own questions to it, and bring it to your first meeting with Michele:
How do I pay myself and my family?
How do I deduct meals? What about a daily meal allowance, subsistence or a per diem? What about groceries while I am out of town on a job?
What are "special" or "remote" work sites? Do I get to deduct more for these?
What about deducting my RV Trailer for working out of town?
Can I deduct an office in my home? What about my garage?
Should the company own the truck, or should I?
How do I deduct a vehicle used for my company? The wife's car? My RV trailer?
Should I lease or buy a vehicle?
How do I get the best tax deduction for my vehicle?
What about deducting the equipment I already own?
How do I register my company and with which government agencies?
How do I register the company for GST, payroll and income tax?
What is a corporation? What does that have to do with company, incorporated, a partner, limited, Inc.?
Should I incorporate? When? How?
What are the various ways to get money tax-free from the company?
How do dividends work? Are they really such a big deal?
What is income splitting? How is it done?
What is income tax deductible?
How do I file a company tax return?
How do I get my equipment into the company?
What is a shareholder? What is a shareholder's loan?
What is the best bookkeeping system for my company?
What if I get caught cheating on my taxes?
How will I pay my personal income tax?
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Sorting Receipts
If you wish to save on our hourly fees, please organize your records using the following information. Otherwise, we would be happy to do it for you.
Please sort the expense receipts as follows:
A. All receipts paid by company cheque, in cheque number order.
B. All receipts paid by corporate credit card, stapled to the credit card statement for that month.
C. All receipts paid by company bank account debit card in order of date.
D. All receipts paid by cash split into batches based on the type of expense (such as fuel, office supplies or truck repairs) and then stapled into bundles with the type of expense written on the top of the bundle.
When we record receipts, our first consideration is always “How was it paid?”. Then we worry about which account we will expense it to. Organizing the records this way answers our key question and will help us to make sure we don’t miss any receipts.
Bring in the bank statements along with the cleared cheques, bank deposit books, credit card statement with expenses noted, cheque stubs, blank GST and other forms, payroll records, completed GST returns and payroll forms, loan statements, etc. cetera. We have a reminder letter we can send you.
Become more independent! We can train you to do-it-yourself when it comes to bookkeeping and payroll!
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