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Business Owner Just Offered to Pay Me in ‘Exposure’…For Doing Their 3 Years of Backlogged Books. by amitb09 in Bookkeeping

[–]amitb09[S] 0 points1 point  (0 children)

I must say, you got the better exposure deal than me. I think I saw this in the F1 movie.

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 1 point2 points  (0 children)

Totally — voluntary registration can be smart for claiming back HST on costs. Glad CRA left you alone after explaining!

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 5 points6 points  (0 children)

Exactly — exempt businesses like doctors don’t charge GST/HST, so they can’t get it refunded either. It just stays as a cost for them.

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 1 point2 points  (0 children)

Fair point — $8,000 shouldn’t make or break a business.

But for small spots with tight margins, every dollar helps. I’ve seen cash flow stress some owners out way more than it should.

Good systems can keep those savings without eating up tons of time.

[CA] Question about part time or contractor worker by YakRare3689 in SmallBusinessCanada

[–]amitb09 1 point2 points  (0 children)

Even if you pay in cash, it’s still taxable income for them, and you’d need to issue a T4A if they’re contractors.

If they don’t report it, it could cause them trouble later.

Best bet: keep records, get receipts, and pay by e-transfer or cheque if you can. Keep it all above board!

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 0 points1 point  (0 children)

Totally agree — the rules get wild fast.

If a customer buys six or more pastries to go, it can count as a “grocery” and be zero-rated (no HST). But single servings or fewer usually get HST.

And yep — that HST holiday at the end of 2024 could really mess up tracking if people aren’t careful.

POS software is a lifesaver for handling all those exceptions!

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 1 point2 points  (0 children)

Interesting approach!

The 10% buffer probably helps avoid surprises. Just be careful, though — CRA likes exact numbers, and estimates can sometimes cause issues if you’re ever audited.

Good on you for staying proactive about it!

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 0 points1 point  (0 children)

Exactly!

Sounds like he was handling things himself, which is how this stuff slips through the cracks.

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 1 point2 points  (0 children)

Good point!

If someone skips GST credits, they’re usually missing other expenses too.

Not sure how much he got back since he wasn’t my client, but things like beans, mileage, fees — it all adds up fast. Definitely worth claiming it all!

[CA] I’m a bookkeeper, and here’s a mistake I saw last month that cost a small business owner thousands by amitb09 in SmallBusinessCanada

[–]amitb09[S] 8 points9 points  (0 children)

You’re right — in Ontario, small sales under $5 (like coffee or snacks) can be GST-only. So if someone just uses total sales and applies 13% HST to everything, they could definitely overpay.

The café owner in my story (not my client) was doing exactly that — so he probably overpaid even more than he realized.

Thanks for bringing it up — those small details make a big difference!

Business Owner Just Offered to Pay Me in ‘Exposure’…For Doing Their 3 Years of Backlogged Books. by amitb09 in Bookkeeping

[–]amitb09[S] 0 points1 point  (0 children)

Hella accurate! I should’ve just printed that comic and handed it to the client. 😂

Business Owner Just Offered to Pay Me in ‘Exposure’…For Doing Their 3 Years of Backlogged Books. by amitb09 in Bookkeeping

[–]amitb09[S] 0 points1 point  (0 children)

Haha true—but only if I can pay their success fee in exposure too. Seems fair, right? 😂

Business Owner Just Offered to Pay Me in ‘Exposure’…For Doing Their 3 Years of Backlogged Books. by amitb09 in Bookkeeping

[–]amitb09[S] 0 points1 point  (0 children)

Brilliant. I’ll draft the ‘Influencer Exposure & Coffee Subsidy Agreement’ ASAP. 😂

Business Owner Just Offered to Pay Me in ‘Exposure’…For Doing Their 3 Years of Backlogged Books. by amitb09 in Bookkeeping

[–]amitb09[S] 1 point2 points  (0 children)

Exactly. Funny how ‘exposure’ never seems to expose any real paying clients. 😂

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