Taking money out of your corporation without setting up payroll or declaring a dividend feels simple in the moment β it's your business, your money. CRA doesn't see i
...The Bookkeep Blog
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If you run a small business in Canada, you've probably wondered whether you're following all the CRA rules. The CRA is the Canada Revenue Agency, the federal government body that collects tax and sets...
If you do freelance bookkeeping in Canada, your clients probably assume you know every CRA rule. The CRA is the Canada Revenue Agency, the federal body that collects tax and sets the reporting rules. ...
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If you've ever typed a bookkeeping question into a search bar at 9 p.m. and found five articles that disagree with each other, one written for the US, and none that tell you which button to click in...
At some point, almost every new business owner in Canada asks the same question: do I need to charge GST or HST? The answer usually comes down to one number, $30,000, but the rule around that number h...
Running a daycare out of your home means your business and your household share the same walls β and the CRA has specific rules for exactly that situation that don't apply to most other home-based bus...
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If you sell to a customer in another province, you can't automatically charge your own province's GST/HST rate. The rate depends on where the sale is considered to take place under CRA's place-
...These two get mixed up constantly, and it's easy to see why β both mean a customer doesn't pay GST/HST on the sale. But for the business making that sale, they work in almost opposite ways, and mixing...
Canada doesn't run one sales tax system. It runs a patchwork of them, and the rules that apply depend on what a business is selling and where that sale is considered to take pl
...Non-profit bookkeeping starts from a different question than a regular small business: not just "how much did we make," but "where did this money come from, and are we
...Not every business vehicle is written off the same way for tax purposes. How much you can deduct depends on how much of your driving is for business, what the vehicle costs to run, and which tax class...
Not every business vehicle is written off the same way for tax purposes. How much you can deduct depends on how much of your driving is for business, what the vehicle costs to run, and which tax class...