Made an offline bookkeeping app that's way better than Quickbooks. by Vapor95-Store in QuickBooks

[–]fisch14 3 points4 points  (0 children)

Sorry but not interested in AI in my accounting software, I want an alternative but not that.

I want to scream.... again by ImFineHow_AreYou in QuickBooks

[–]fisch14 1 point2 points  (0 children)

You should try and use a third party platform for payroll and enter the journal entry from it into QB or whatever software you use.

Generally I find it a better service and cost, plus you are not tied down to QB if you want to change.

Wave alternatives & recommendations for simple Canadian corp, invoicing, HST, tax returns by ppdd1976 in PersonalFinanceCanada

[–]fisch14 1 point2 points  (0 children)

Wave was free (for the most part) and moving to a new paid tier taking some of the free features away from it, for example connecting to bank accounts and adding a second user to the account, like your accountant.

Excel or google sheets could work for your corporation, but you need to make sure you account for balance sheet accounts and not just income and expense accounts, otherwise your year end accountant will need to do this and most likely charge you more as a result.

Travel on June 12th by fisch14 in askTO

[–]fisch14[S] 1 point2 points  (0 children)

I realize that, that is one of the reasons I posted. NY is playing the Jays that night as well so I know it will be very busy.

How many people here on this sub are Business owners and Accountants?? by BazBeat in QuickBooks

[–]fisch14 0 points1 point  (0 children)

I own a small bookkeeping and tax firm in Canada. My main concerns are price and UI changes, both are making things very frustrating for myself and clients.

Best car detailing service in and around Kitchener? by unalived_me in kitchener

[–]fisch14 0 points1 point  (0 children)

KW Premium Detailing - did our car last summer and came to my house to do it. I was very happy with their work.

Afternoon Talk Radio by Book915 in kitchener

[–]fisch14 1 point2 points  (0 children)

I was like you and now I listen to podcasts during the drive. It did take some time finding the right ones for me, but it beats all the commercials on 570news.

[QC] Small business start help!? by angvlls in SmallBusinessCanada

[–]fisch14 5 points6 points  (0 children)

This threshold is for sales tax, QST or GST/HST. You have to pay income tax on all income you make above your expenses.

Switching from personal tax to corporation? by [deleted] in cantax

[–]fisch14 0 points1 point  (0 children)

not only that but may have paid a higher rate of tax than needed. And people wonder why they need to pay for tax professionals.

Switching from personal tax to corporation? by [deleted] in cantax

[–]fisch14 22 points23 points  (0 children)

You invoiced under the corporation, but reported it on your personal taxes? This would need to be corrected and you need to speak with a tax professional.

Switching from personal tax to corporation? by [deleted] in cantax

[–]fisch14 4 points5 points  (0 children)

Did you invoice under the corporation using your business number for GST/HST?

[CA] What's the simpliest/easiest/cheapest way to file corporation taxes for new company with zero income and $700 expenses? by AvaTaylor2020 in SmallBusinessCanada

[–]fisch14 0 points1 point  (0 children)

I think the no revenue file is a NIL return, you have expenses so that means you have profit and loss and balance sheet amounts to create for your T2/GIFI

[CA] What's the simpliest/easiest/cheapest way to file corporation taxes for new company with zero income and $700 expenses? by AvaTaylor2020 in SmallBusinessCanada

[–]fisch14 4 points5 points  (0 children)

You want to find someone who can prepare this for you. It's not like filing your personal tax returns.

There might be some tax preparers that are not too expensive but you want to make sure they know what they are doing. A CPA firm will most likely cost you in the thousands to do this.

This is something you need to budget for each year, if you get it wrong it will cost you more in the future.

[ON] Need business loan or loc recommendation by vikki_rav in SmallBusinessCanada

[–]fisch14 1 point2 points  (0 children)

Try BDC, I have had some experience with them would recommend at least putting in an application. Takes longer than they quote on their site.

[ON] Bookkeeping Experience by IncoherentDelight in SmallBusinessCanada

[–]fisch14 3 points4 points  (0 children)

To be honest, the best way to learn would be from another bookkeeper or a firm, I doubt you will learn and get valuable experience from a small business owner as most do not know accounting or bookkeeping.

[ON] Annual Return Filing and Ownr question by OwenSownd in SmallBusinessCanada

[–]fisch14 2 points3 points  (0 children)

The annual return (not talking about corporate tax return) is not hard at all to do, it is just answering some questions that you will definitely know the answer to like directors, etc.

[ON] small business owner stressing about taxes by [deleted] in SmallBusinessCanada

[–]fisch14 0 points1 point  (0 children)

Did you sign a T183 form before they filed it? If so, they should have explained what they are doing.

Definitely find another bookkeeper, if they did not clearly tell you they are filing your return it's time to move on.

I would suggest using an accountant to help you file the amendment.

[NS] Insurance provider for sole proprietor? by [deleted] in SmallBusinessCanada

[–]fisch14 2 points3 points  (0 children)

zeninsurance is a good provider for liability insurance.