Kaitlin Kirk, CPA

http://www.canadian-accountant.com//7-service-problems-acc

Mid-tax season selfie... #thestruggleisreal

Did you apply and receive CEBA (Canada Emergency Business Account) interest-free loans up to $60,000 during the pandemic? It's important that how you use these funds is tracked and spent on the proper expenses. If you spend money on the wrong costs, this could mean losing the forgivable portion. Here is a good breakdown of what is considered eligible expenditures for CEBA and FAQ: https://www.videotax.com//ceba-faq-updated-eligible-expend

Most individuals who received COVID-19 emergency and recovery benefits from the CRA should have their T4A by now and they are encouraged to file their 2020 income tax and benefit return as soon as they can. Check out this article from the CRA that answers the most common questions related to your T4A for 2020. https://www.canada.ca//questions-about-your-t4a-what-you-n

Don't miss out! This live webinar is tomorrow at 10 am EST. www.captainsclub.ca

I had previously referenced an article where over 100,000 online CRA accounts were locked out in February and what you could do about it. The CRA has now locked out an additional 800,000+ accounts for Canadians. You may receive an email from the CRA indicating your account has been locked. This is legitimate, and the CRA is taking this measure to protect your account and your identity. Don't get me wrong, the timing is less than ideal, but I'm of the mindset it's always bette...r to be proactive than reactive when it comes to the security of your personal information. This article goes over the steps you can take to get back access to your account. Feel free to reach out if you have questions on how this might impact your taxes, benefits, etc. https://www.cbc.ca/n/politics/cra-accounts-locked-1.5947714

We are glad to see that the recent locking of online CRA accounts is being reviewed. It will be interesting to see what the Ombudsperson determines and their recommendations. https://www.canada.ca//taxpayers-ombudsperson-launches-rev

Comparing our amateur endeavors to professionals is never a good idea. The pros have so much more support and so many more tools than we do. Get free accounting and tax tips from a professional accountant every week. Sign up for my free newsletter here: https://www.kirkcpa.ca/news

Are you trying to decide on the right accounting software for your business? Not sure where to start? I break it down so you can make the best choice for your business here: https://www.kirkcpa.ca/wave-vs-quickbooks/

I have SO many different coloured pens... I realized they're adding to my decision fatigue by the end of the day. What decisions are you making throughout the day that you could make in advance? Get free accounting and tax tips sent to you every week by signing up for my news letter: https://www.kirkcpa.ca/news

As a business owner, choosing the best way to pay yourself can be confusing. I break it down in my latest blog post here: https://www.kirkcpa.ca/how-to-pay-yourself/

Choosing the right accounting app is an important decision for your business. How do you make that choice? Choosing the wrong accounting app is a common mistake I see small business owners make. Get a free PDF of the 7 Accounting Mistakes Small Business Owners Make and Quick Fixes to Stay Out of Trouble to find out if you're making these mistakes, and how to fix it if you are: https://www.AccountingMistakes.ca

One of my favourite people sent me a subscription for my birthday and this is the first delivery... I'M SO FRIGGIN' EXCITED! Get a free weekly accounting and tax tip subscription by signing up here: https://www.kirkcpa.ca/news

Once you decide to incorporate, there are some costs to keep in mind. Incorporating too soon is one of the 7 Accounting Mistakes Small Business Owners Make. Get your free PDF download describing this one and the other six here: https://www.AccountingMistakes.ca

People like options, but there's a balance between too many and too few - 3 is the perfect number. Get free accounting and tax tips sent to you every week by signing up for my news letter: https://www.kirkcpa.ca/news

What's the weirdest thing you've shredded?

There's a fine line between confident and overconfident. How do we know when our bias is messing with us?

Let's have a fun giveaway, shall we? Enter to win a free, 90-minute financial strategy session with me, Kaitlin Kirk CPA! I'm a Chartered Professional Accountant who can advise and guide you on the financial health of your business, so you can work less and earn more. ... To enter, , (if you don't already) and who you think would benefit from this session. We will choose a winner at random on Friday Oct 30th.

We changed a light switch and an outlet today... it was SO much harder than it should've been. Get accounting and tax tips sent to you every week for free! Join the community here: https://www.kirkcpa.ca/news

What if we treated every Saturday like a holiday? How would you spend your day?

Today I had the opportunity to put a name to the number one thing I struggle with. It was a hard conversation, but I'm feeling like at least I have somewhere to start. If you're in the same boat with your money, let's chat. You can book a free 15 minutes with me to put a name to the issue and start to build a plan to fix it. Use this link to choose a time that works for you: https://chat.kirkcpa.ca/call For weekly accounting tips and tricks, sign up for my free news letter: https://www.kirkcpa.ca/news

Paying yourself is something every small business owner needs to figure out. How do you get the money out of the company and into your hands as an individual so you can pay bills and buy groceries? Even more importantly, how do you do it without paying a ton in taxes? Read more about this here: https://www.kirkcpa.ca/how-to-pay-yourself Sign up for free weekly accounting tips here: https://www.kirkcpa.ca/news

If you're self-employed and decide to accept employment with someone else as well, how do you fill out the tax forms? Do you need to charge GST/HST on your pay cheques? Sign up for free accounting and tax tips sent out every week: https://www.kirkcpa.ca/news

I talked about CEO time being for working ON the business and not IN the business. I'd like to add to that... and let you in on a little secret. Sign up for free accounting/bookkeeping/small business tips sent to you every week! https://www.kirkcpa.ca/news

I keep my GST/HST and income tax money in a separate bank account so I don't spend it. It's a real pain trying to figure out how much should be in that savings account at any given time, but today I figured out a hack. Looking for weekly accounting and tax tips? Sign up for my free news letter: https://www.kirkcpa.ca/news

Perennial flowers bloom during the summer, die in the fall, and re-grow in the spring. They don't try to re-use what they grew last year, they just start again. Get free accounting and tax tips sent to you every week! Sign up for me newsletter: https://www.kirkcpa.ca/news

Selling services only gets you so far - selling value is where the real opportunity hides. Get free accounting and tax tips sent to you every week! Sign up for my newsletter: https://www.kirkcpa.ca/news