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Every Dollar Matters - Increase Revenues After Tax Season Lisa Patrick

During the current recession, many businesses and individuals are turning to professional accountants in order to ensure the correct preparation of their tax returns to avoid costly penalties. This means that there are many opportunities for accountancy offices and franchises to grow - an opportunity for a new revenue stream to offset the lack of revenue after tax season.

But tax season for personal income tax returns is a 3 month a year revenue stream.  We all see kiosk’s in the mall from Liberty Tax and H&R Block but what about the other 9 months of the year? Your business client comes in once a year to file their T2 return but you don't see them for the other 11 months of the year?

Every dollar matters in your business and revenue streams in off peak season are vital to the success of your business.  Bookkeeping offers the opportunity for your business to offer another service for your clientele and generate another revenue stream for your business. But your not a bookkeeper, you're an accountant or a business owner!

A brand new software Bookkeeper’s Quote™ now provides you the opportunity to profile new clients or existing clients and match their businesses with bookkeeping tasks required.  The bookkeeping software provides you the communication tool necessary to discuss the tasks associated with bookkeeping and at the same time provides you the checklist of bookkeeping tasks you will need to complete to provide a bookkeeping service.

Bookkeeper’s Quote™ also will create accurate bookkeeping quotes that properly reflect a bookkeepers' time and work on clients' accounts, based on your rates and task/time settings or default proven standard times.

Bookkeeper’s Quote™ is designed to assist the user in Communicating 2 the client about the costs and any adjustments in billings after the quote.

Bookkeeper’s Quote™ includes everything you will need to ensure you provide accurate reliable service to a client.  Whether they are new to your office,  client information is recorded, compliance methods assured, contacts with the government accounted for, posting and invoicing recorded, payroll included and tax regulatory issues are highlighted and more.

So if you are looking to add a revenue stream to your existing business or a new business that compliments what you are currently doing think about bookkeeping and make every dollar count.

 


HIRING CREDIT FOR SMALL BUSINESS (HCSB) Lisa Patrick
For 2011 and 2012 Canada Revenue Agency is granting up to $1000 credit on employment insurance premium of your employee costs.  HIRING CREDIT FOR SMALL BUSINESS. (HCSB)

The HCSB gives small businesses relief from the employer's share of employment insurance (EI) premiums paid in a year. It does this by crediting up to $1,000 on the payroll account, based on the increase in an employer's EI premiums paid in one year over those paid in the year before. 

Canada Revenue Agency is doing the paperwork to determine your qualifications: HIRING CREDIT FOR SMALL BUSINESS. (HCSB)

There is no application form to complete.

If you are eligible, the CRA will automatically calculate the amount of your HCSB using the
EI information from the T4 slips you filed with your 2010 and 2011 T4 information returns.
The amount to be credited to your payroll account will be greater than $2, but no more than
$1,000.

For more information, please search the following link at Canada Revenue Agency.
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/hwpyrllwrks/stps/hrng/hcsb-eng.html
HCSB for 2011 <http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/hwpyrllwrks/stps/hrng/hcsb-2011-eng.html#business_income>
HCSB for 2012 <http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/hwpyrllwrks/stps/hrng/hcsb-2012-eng.html>

DO REMEMBER TO INCLUDE THE CREDIT TO YOUR EMPLOYER REMITTANCES OR YOU WILL NOT BALANCE WHEN YOU DO YOUR T4 SUMMARY.
HCSB is business income

Remember, If you receive the HCSB, you have to claim that amount as income or reduce your EI expense when you file your business return, even if we transferred some or all of this credit to pay off a debt.

Contact us for more information

 

Darlene Lafond R.P.A.


New Software: Bookkeepers Quote™ Lisa Patrick

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