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Tax Changes for Payment Apps: What Small Business Owners Need to Know

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Online Bookkeeping : Tax savings begin with consistent bookkeeping, which provides the financial visibility needed to make informed, data-driven decisions, now and during tax season. . They are available when you need them, all year long. .

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How Do I Pay Myself and My Taxes as a Partnership?

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Every partnership owner faces the unique challenges of self-payment, tax filing, and maximizing their tax savings. Although they would rather focus on growing their business, taxes and payroll often take up too much of their valuable time. . Even with a significant tax advantage, taxes can still be stressful.

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How Do I Pay Myself and My Taxes as a Sole Proprietor?

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Be aware that sole proprietors are required to withhold self-employment taxes, which contribute to Social Security and Medicare. As of right now, the self-employment tax rate is 15.3%. So, how can you maximize your tax savings? Business tax preparation and filings are included with almost all of our packages!

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How to File Your GST/HST Return Using CRA My Business Account

Ronika Khanna CPA,CA

The good news is that it is quite easy to file the return online and, in most cases, probably saves you time since you don’t have to put it in an envelope, affix a stamp and take a walk to a mailbox. If you have more complex transactions, that I don’t discuss here and you are not sure, I recommend speaking to an accountant.

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The Top 5 Benefits of Catch Up Bookkeeping

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As tax season draws closer, a concern that many business owners have is under or over reporting their earnings, and missing out on deductions. They may also experience a back and forth with their Tax CPA over missing documents and gaps in their financials.

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Make Your Taxes Easier with this Detailed Checklist

Ronika Khanna CPA,CA

Another way to see your T4s is to access your CRA account online, where any of the T4s that have been filed by your owner electronically are posted for the current and previous years. other t-Slips If you received CPP or QPP during the year, you will receive a T4(P) slip which reflects amounts received and any taxes withheld.

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Frequently Asked Questions About GST/HST By Business Owners

Ronika Khanna CPA,CA

Your GST/HST returns can be filed directly through a business bank account , online through CRA my business account or by completing a paper form and mailing it in along with a cheque or paying directly at a bank. How do you file your GST/HST returns? What is PST and how is it different from GST/HST?