QuickStart Your Quickbooks, specifically written for Canadian businesses, aims to take you from a complete novice to a confident intermediate user on a timeline that works with your schedule. The step-by-step guide allows you to learn at your own pace and demystifies common problems that many users of QBO experience. Best of all, no prior accounting knowledge is required - each chapter is explained in an easy to understand way along with screenshots so you never feel lost.
Over 250 pages of tips, tricks, and actionable steps you can implement immediately.
An examination of which Canadian version of QBO is best for your needs
How to migrate your data from QuickBooks desktop or using journal entries (with detailed explanations)
A review of each of QBO’s numerous features and detailed instructions on how to customize every aspect of your setup (including Canadian sales taxes (GST/HST/QST))
Step by step instructions on how to do everyday tasks such as invoicing, expenses, journal entries, banking and sales tax filing
A review of the essential reports that every business owner should use to analyze their business
Accounting terminology and best practices every small business owner should know
And so much more!
Learn everything that every QBO user needs to know, increase your profitability, and take control of your small business finances with QuickStart Your QuickBooks
Download your free QBO Set Up Checklist
Is your goal to own and operate a Canadian small business or transition to self employment?
FASTSTART Your Business is the quintessential guide that takes the guesswork out of starting your business and focuses on what matters most. Inside, you’ll discover:
Step by step framework that tells you exactly what you need to do as a sole proprietor (which applies to ALL business and self employed owners unless your business is incorporated.)
Why most new businesses need to register and guidance on how to do it in every province.
What every business owner needs to know about sales tax (GST/HST and QST) , how to register and how to save money with the Quick Method.
What you need to know about hiring employees and how setting it up is easier than you think.
How to reduce taxes by reviewing the types of expenses that are deductible for small businesses and insights on preparing your income tax return even if you outsource it to an accountant.
How much you need to save in taxes so that you can be prepared and avoid unpleasant surprises when you do your tax return.
The different types of business structures and whether a sole proprietorship or a corporation is best for your situation.
And much more!
After reading it I think it's essential reading for any Canadian/Quebecer small business person who wants clear, straightforward, no "BS" answers to every question you have (and many you haven't thought about) about starting a sole proprietorship - David L.
Sign up for your free start your business checklist and discount code
Are you small business owner, administrator or accountant/bookkeeper trying to navigate the complexities of dividends and wanting to ensure that you are tax compliant?
One of the most important aspects of tax, as it relates to small business corporations, is a solid understanding of owner compensation. In doing so, it empowers you to make informed decisions that optimize your tax position, ensure compliance, manage cash flow effectively, and plan for the future.
This comprehensive guide helps you to understand everything you need to know about small business dividends and provides step by step instructions on preparing and submitting your dividend declarations i.e. T5 slips to Revenue Canada . Additionally, it can help you save the cost of hiring an accountant, who can charge upwards of $150.00 to prepare your dividend slips, while boosting your financial knowledge and giving you the confidence to make the right decision.
Inside you’ll discover:
Salary vs. Dividends Deep Dive: Explore the nuances between salaries and dividends, including vital considerations for deciding on the most beneficial owner compensation strategy and gain expert guidance on assessing the best compensation option for your unique situation, helping you make informed decisions.
Step-by-Step Instructions: Easy-to-follow guidance for preparing and submitting your tax forms via mail or online to the CRA, ensuring you're fully compliant.
DIY Dividend Registration: A straightforward process to register for a dividend account
Dividend Resolutions Simplified: Gain access to a template on drafting your dividend resolutions
Tax Implications Explained: A clear explanation of how taxes on dividends work and how they are different from salaries
Accounting Software Integration: Tips on how to accurately enter dividends into your accounting software.
Filing for Quebec Businesses: A dedicated chapter on filing the Quebec equivalent RL-3, catering to the specific needs of Quebec-based businesses.
And more…. (see image of table of contents)
Get your free dividend checklist and discount code.
UPDATED FOR 2024
Mastering Canadian taxes as a small business or self-employed owner can often feel complex and overwhelming. Simple errors, oversights, and miscalculations can result in paying a higher tax bill than is necessary and result in costly audits and/or penalties.
But keeping your business on the right side of the tax authorities is easier than you think. Small Business Tax Facts: An Easy-to-Understand Guide for Canadian Small Business Owners teaches you the fundamentals and the facts about income and tax. It shows you how to navigate taxes, pay only what you owe, and on time, and save your hard earned money by claiming the deductions that you are entitled to.
Inside this comprehensive and helpful guide for unincorporated small business and self employed owners, you’ll discover:
a comprehensive breakdown of business expenses and deductions with examples to help you maximize your tax savings
detailed explanation of income tax implications for small business and self-employed individuals
expert guidance on how tax brackets and rates work so that you can understand exactly how you are taxed
the differences between being an employee and a small business/self employed owner allowing you to make informed decisions about your tax obligations
how to register for an online CRA Account to simplify your tax reporting and compliance
a list of the most common tax deductions and tax credits to help you reduce your tax bill
insights into how small business/self employed owners should do their accounting to simplify the tax preparation process
guidance on how to prepare and file your own business income tax return, allowing you to save on hiring an accountant
insights on sales taxes, including how to prepare your sales tax (GST/HST) returns accurately.
how Canada Pension Plan (CPP) contributions work ,how to calculate them and how they affect your taxes payable
and so much more!
Discover insider secrets, tools, techniques, and must-know information from author Ronika Khanna CPA, CA, & CFA, and learn to navigate your Canadian small business taxes with ease.
Embark on your entrepreneurial journey with confidence and clarity with "FastStart Your Corporation" – your comprehensive guide to effortlessly incorporating your Canadian business. Whether you're navigating the initial steps or aiming to refine your existing knowledge, this book is designed to ensure that you have the tools you need for success. Avoid common pitfalls and penalties by understanding the crucial aspects of the incorporation process.
The advantages of incorporation over simple business registration, and how it can benefit your venture in the long term.
Strategies to correctly classify yourself as self-employed, avoiding the common missteps that could categorize you as an employee or a Personal Services Business (PSB), which carry different tax implications.
Expert guidance through the critical decisions of the incorporation journey, helping you to navigate the complexities with ease.
Vital considerations for setting up your business accounting, ensuring you have a solid financial foundation from the start.
Insights into selecting the right accountant, emphasizing the qualities that matter most for your corporation's financial health.
An in-depth look at the GST/HST registration process
Practical advice on salary and employee compensation
A easy to understand overview of corporate small business taxes, arming you with the knowledge to leverage tax advantages and minimize liabilities.
A dedicated section on incorporating in Quebec, addressing its unique requirements
"FastStart Your Corporation" is a roadmap to success for small business owners, startups, freelancers, and independent contractors. It offers a solid foundation for those looking to build a durable, thriving corporation.!
Download our free checklist for starting your corporation.