If you are on-line and find the print or graphics too small to read, press Control plus to make it bigger and Control minus to make it smaller. That is: Ctrl + and Ctrl - . You can hit the + or - several times while holding the Control key. Control 0 (zero) will change the font size back to normal.
Ideal for the one-man company where your truck is your office, this organizer sits on the passenger seat and secures in place with the seat belt. The top unfolds to make a desk surface in your truck or car. The organizer holds cell phones, PDA's, pens, 15 letter size files, etc. This link goes to Daytimer.ca product item 20189.
Rent your vehicle to your corporation for $.52 per kilometer without receipts! (Rent it for even more if you can show that it costs more than $.52 per km to own and operate the vehicle - we can do a quick calculation together without receipts.)
I can teach you to do bookkeeping by hand (in a big black book) in around an hour. For a business with one to five employees, the big black book is still often the best method of bookkeeping. It is not necessary to use a computerized system. One hour is enough to learn how to record your business expenses in the book, track expenses and revenue and to have the numbers for filing GST returns. You leave the lesson with a book which has 20 - 30 business entry examples recorded in it (for future reference) and you will have a book with columns customized to suit your business. Save on accounting fees by learning to do this yourself! If you are computer savvy and want to take it one step further, these concepts convert easily to a spreadsheet. To learn Simply Accounting or Quick books, please call me.
Here are two links to a mileage log. You can download it in Excel format, or as a printable Adobe pdf file. Download the free Adobe reader here. Canada Revenue Agency auditors insist you have a mileage log ready for them in an audit.
If your company provides you or anyone else with a vehicle with any personal use, the company is required to add a taxable amount to that person's T4 for the privilege of having a free vehicle for personal use. Passenger vehicle taxable benefits are based on this CRA calculation link. Ask me about the taxable benefits for motor vehicles.
A "must have" in an audit, this form is used to track bank deposits and transfers into your personal bank accounts. Ask me why you need this. You will not believe what Canada Revenue Agency has been doing to self-employed people in audits! Available in Excel and printable Adobe pdf formats.
We ask clients to list their business Accounts Receivable and Accounts Payable at year-end. Here are forms to use, if you don't have a form of your own: Accounts Receivable List Accounts Payable List.
Can't decide whether it is better to buy or lease a vehicle? Check out this Industry Canada website link. Click the link and see the eighth item on the left hand menu.
Canada Revenue Agency has a very helpful guide for new business owners "Guide for Canadian Small Businesses". It is publication RC4070 at www.cra.gc.ca.
This link takes you to free templates for Word and Excel at Microsoft. Many different forms such as invoices have been designed and shared here for your free use.
This link is to the Business Development Centre website. It is a straightforward explanation of how GST and HST work for small business owners. We will show you how to account for GST or HST when we help you set up your bookkeeping system.
This site can help with the difficult decision of whether it is better to pay down your mortgage or buy a RRSP. Look at the bottom of the page at: www.taxtips.ca.
Should you collect CPP at age 60, wait until age 65, or start somewhere in between? Check this CPP decision calculator link.
Overwhelmed by credit cards? Having trouble choosing a new one, when there are so many options and perks? Looking for the lowest rate possible, or some other feature? This Government of Canada service lets you easily compare credit cards and their features. Take this link.
This fantastic Government of Canada website is for people starting a new business. www.canadabusiness.ca. It is a one-stop shop for small business owners.
Estimate your income taxes with this Ernst and Young easy to use income tax estimator. Take this link to it.
What is the punishment for cheating on income taxes? 10% to 100% of the unpaid tax plus interest. Check out the Canada Revenue Agency website where they name convicted tax cheaters and state the amount of their penalties. Link to convictions.
This CRA publication talks about the underground economy, working for cash, and how people are caught. It also talks about the Informant Leads Program. Link to pamphlet
Are you an employee or a subcontractor? This important decision can have serious consequences if you get it wrong. This link goes to Canada Revenue Agency publication RC4110 "Employee or Self-employed": LinktoGuide which has important information to help determine if you are an employee or a subcontractor. Unfortunately, Canada Revenue Agency quit publishing their checklist with the guide. This checklist is so important, I have added a link to the former checklist.
Sign up for a free subscription to "The Pipeline" a Western Canadian newspaper which specializes in the oil and gas industry. Call 403-979-2008 or email wcpipeline@ac403.com.
Ask me for leads on lenders when the banks are not interested in lending to you.
I offer on-going advice on how to improve your bookkeeping, which can reduce your accounting fees!
This employee payroll card is for your use in tracking wages and deductions for each employee. They are a key part of preparing T4's. Also available as a .pdf
Not sure what to deduct from employee wages for payroll source deductions? This link to the Canada Revenue Agency website will let you download and install publication T4032 tables of CPP, EI and income tax deductions to be taken from wages. This link is to an online calculator. It takes more skill to get the first one on your computer, but the second one is dependent on your having an internet connection at the time. Keep up to date! These tables change every January and often in July as well.
Use this link to verify the GST number of the business you are dealing with is valid. This is particularly useful in land and business sales. TestGSTvalidity
This website: www.openoffice.org has free programs which mimic Microsoft Office programs such as Word or Excel!
Sales tax (GST, HST, PST) is becoming more of an issue as we Albertans cross borders in an effort to find work. We sometimes forget that other provinces have a Provincial Sales Tax or forget to consider we might have to charge it or the GST. "Place of Supply" rules are very important if you cross borders physically, ship goods or sell over the internet. Various links follow:
- Sales tax rates
- Sales tax rules
- Sales tax rates
- Saskatchewan Provincial Sales Tax information
- Place of Supply Rules for charging GST and HST
Will you have enough in RRSP's when you retire? Take this link to ATB Financial and select "RSP Calculator". Enter a few numbers and this terrific calculator will estimate how much you will have in your RRSP at retirement and if it will last long enough! RSPCalculator.
Ernst & Young, a major accounting firm, provides excellent financial calculators related to personal investing. Calculators
CRA has this on-line guide for new business owners: Guide for Canadian Small Businesses
Do you wonder if you, as a low income senior, qualify for the Alberta Senior's Benefit? This link "LINK" takes you to a Alberta Senior's Benefit screen where you enter a few numbers and it will tell you if you qualify for a monthly cash supplement or for other benefits such as free vision or dental care benefits. They don't ask for any personal data, so you can use this safely.
The Bank of Canada site has a free service where you can look for unclaimed bank account balances for anyone. You just need the last name for a person. Social Insurance Numbers or specific bank branches are not required. I found $500 for a family member! BankofCanada/claimaccounts
Not sure if your medical practitioner is authorized to issue medical receipts for a claim on your personal income tax return? As an example, in Alberta our massage therapists are not medically licensed by the province, so massage therapy can not be claimed on your Alberta personal income tax return. Link to list
For my out of town clients: AMA road conditions.
I provide website links as a service but can not vouch for the accuracy of calculations and advice found on them.
If any of these links stop working, please tell me. (Thank you.)
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