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| *Ostroff, Fair and Company>>>Canada Taxes |
Can anyone help me with taxes? |
I a just started doint my own home based business and I was wondering how this is going to effect me at tax time. My company is a direct selling / MLM company. Does anyone have any tips on record keeping? Thanks! If you are not keeping books - keep every receipt or invoice and get someone to do it for you. Don't throw anything out. Make sure you are clear on the GST and provincial taxes to be charged. You can invest in a system like Quick books or Simply accounting. They are both quite straightforward. I have my own business too. It is a full time job keeping track of everything I would be lost without my bookkeeper. In any event this is what I can offer. Do yourself a favor and start right off the bat by doing quarterly taxes. If you wait till the end of the year you will have to cut a big check. Deduct everything you can think of rent, electricity, internet, mileage, etc. Keep receipts and invoices for everything get an accountant (CMA, CA, or CGA) |
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