Still CPA Blog
10 Financial Tips You Need to Know to Run a Successful E-commerce Business
1. Setup your e-commerce business on cloud accounting software system Cloud accounting software enables your e-commerce business to always have your data and software accessible online and from any device. Here’s a short checklist of things to consider when getting started with cloud accounting software. Is the software easy to use? Does it handle sales…
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10 Reasons Why Your Small Business Needs to Have Workflows (Business Processes) to Ensure You Have a Successful Business
What is workflow? A workflow is an expression, which means what it says: the “mapping out flow of work”. This term is used to name a set of tools or methods that serve to automate and make your small business processes highly efficient. Thus, tasks, information, data, and the activities performed by employees will follow an…
10 Steps for Setting up your Business Roadmap (Plan) to Grow Your Professional Service Business
The purpose of a Small Business Roadmap (plan) is to assist you in clarifying your goals and mapping your plan to achieve these goals by setting timelines and priorities. The roadmap template is used to organize this information. Once the roadmap is completed, it will act as a filter for all the decision-making in your…
10 Tips for Managing Cash Flow to Grow Your Small Business
Managing your cash flow is important, but if you do not have any cash to manage in the first place, you are in trouble. Fortunately, there are steps you can take to increase your cash flow and avoid potential cash flow problems. Here are a few tips to help you row your cash flow boat…
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Canada Recovery Hiring Program
Budget 2021 introduced the new Canada Recovery Hiring Program (CRHP). This new program provides eligible employers with a subsidy of up to 50 percent on the incremental remuneration paid to employees between June 6, 2021, and November 20, 2021. Eligible employers can claim either the CRHP or the Canada Emergency Wage Subsidy (CEWS) for a…
Canadian YouTube Creators – YouTube / Google Withholding Tax Update
All monetizing creators on YouTube, regardless of their location in the world, are required to provide tax info to Google. Google may begin withholding U.S. tax on your earnings as soon as June 2021. Google is requesting your tax information by May 31, 2021. Canada and the United States have a Tax Treaty to reduce…
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Top 10 Income Tax Filing Tips for Canadian YouTubers
Canadian residents are taxed on their worldwide income. Essentially, if you provide information or services online and earn income from it, the Canada Revenue Agency (CRA) requires you to report it on your income tax return.As a YouTuber, you are allowed the deduct the expenses that you incur to earn your income. Top 10 YouTuber…
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Personal income tax: What’s new for 2020?
Digital news subscription expenses You can claim up to $500 for amounts you paid in 2020 for qualifying subscription expenses. You must have paid the amounts to a qualified Canadian journalism organization (QCJO) that does not hold a license to broadcast, for a digital news subscription to content that is primarily original news.Only the individual(s)…
What Employment expenses can be tax-deductible by a salary employee?
Salary employees can deduct pension contributions, union dues, and professional fees, but they are very restricted in what employment expenses they can claim. Unlike individuals who run their own business, there is no general rule allowing employees to deduct any reasonable expense incurred to earn employment income. If employees are required to pay their own…
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