Survey Says…:
Hello All,
First I must apologize for not having sent out a newsletter for some time. I was taking a break after tax season, and have left it way too long. My goal is to get back on track with a little help from you.
I have been writing this newsletter for over 2 years and I wanted to make sure that it is providing value to you, my audience. Additionally, I am interested in potentially expanding on both the type of content and well as the format in which it is provided. To this end I have created a survey with some questions, which I am hoping will help me to direct my efforts in a more focused way.
As a business owner, I think a well crafted survey can provide you with a wealth of information about your customers. Creating a good survey, however ( as I have learnt), can take time and effort. It can’t be too long, shouldn’t have too many open ended questions and has to anticipate the needs of your audience. One of my goals is to get more general information on my readers and where there interest and more importantly, their challenges, lie.
There are of course a variety of software that do surveys, but it is hard to beat the simplicity (and freeness) of Google forms. You can use multiple choice, checkboxes if you would like folks to select more than one option, text based answers and grids. Additionally, you can delineate your survey and have respondents jump to another section depending on their answers.
So, without further ado, I present to you the survey. Only a couple of questions are required while the rest can be answered or not, depending on it’s applicability to you. I have a couple of open ended questions and also a request for follow up, if you are interested. Finally, I guarantee your absolute privacy as this survey will only be seen by me. I greatly appreciate your participation :)
Blog Post
I imagine most of you have filed your tax returns and received the notices of assessment. My updated blog post lets you know what to expect and how to deal with a request for information:
What is a notice of assessment and How to Handle a request for information
After you file any type of tax return Revenue Canada (CRA) and Revenue Quebec (RQ) will send you an acknowledgement that the return has been received and a detailed breakdown of the tax return that
Small Business Articles
In case you want to write your own survey: This article lays out some of the reasons and best practices around surveys.
How to qualify for self employed mortgage: It can be more difficult if you are self employed/have a small business to qualify for a mortgage. This article gives you some tips on how to navigate.
Can AI really replace writers and artists: Another in a slew of articles about ChatGPT and it’s competitors. While AI can certainly help with efficiency, it’s ability to replace creativity is more suspect.
Tax Stuff:
Filing tax returns when you have a spouse: A question that often comes up, it can be useful to know that the tax implication are for individuals that are married or in common law relationships.
Is your business raising red flags for audit? This article reviews a few of the practices that might get you noticed by CRA.
Lifetime Capital Gains Exemption for Small Business: If you have a business that you might want to sell one day, it is useful to know about LCGE as there can be significant tax advantages.
QuickBooks Tip: Find An Accountant
For those of you either currently or planning to use QBO or QB Desktop, you can find an accountant directly on their website. You can filter by location, type of service you want, industry and product used. I have sent this link to many of my consulting clients.
A similar resource is available if you use Xero or Wave accounting as well.
Books and Resources:
Small Business Tax Facts(Sole Proprietorships/Registered Businesses/Self Employed Workers)
This book helps you take control of your finances by giving you a better understanding of tax (brackets, tax rates, deductions etc), how it applies to your unincorporated small businesses and how to do your own tax return (or at least understand what your accountant does). It also includes a comprehensive breakdown of deductible expenses, by category with special sections on more complex deductions such as home office, vehicle and capital cost allowance.
FastStart Your Corporation(Corporations)
A step by step guide to starting your small business corporation, including what you need to know about incorporation, setting up your accounting and tax considerations.
QuickStart your QuickBooks(Sole Proprietorships and Corporations)
A comprehensive guide that takes you through the many features of QBO and gives you step by step instructions on how to setup and work with QBO day to day. It is ideal for beginners who have never used QBO before and also for those who are currently using it, but have questions or need guidance.
FastStart Your Business (Sole Proprietorships)
A step by step guide for anyone who is planning to start a Canadian business or become self employed (and does not want to incorporate) and wants to know what they need to do or simply has questions.
Small Business and Your Dividends (Corporations)
For incorporated small business owners who want to know more about small business dividends, the differences between salary vs dividends and which is better and step by step instructions on how to file your own dividend declarations (T5s).
Use discount code “special” to save 20% on any (or all) book(s) when you purchase from the website.
Please note that all books on my website are in PDF format.
If you prefer a print version, all books are also available at Amazon . Note that print versions purchased on Amazon include a complimentary PDF - you just need to email me and include proof of purchase.
Free Resources
Business 2023 Tax Deadline Calendar
Starting A Corporation Checklist
Start Your Business Checklist
Dividend Declarations Checklist
Small Business Tax Return Checklist
QBO Set Up Checklist.
Small Business Calculators
Previous newsletters
Consultations
I also provide consultation services where I can answer your specific questions relating to your small business and/or finances, provide clarity and give you guidance. Additional details can be found here and here. Note that I no longer provide ongoing accounting or tax preparation services.
Reviews/Feedback
I would love to hear your comments on my current blog posts, topic ideas for new blogs, book feedback or anything else that you want to talk to me about. You can use my feedback form or email me directly at ronika@montrealfinancial.ca.
For anyone who has purchased my books through Amazon or directly and found them useful, I would be very grateful for a review on Amazon (to leave a review you only need to have an account with Amazon even if you did not purchase the book from there).
Finally, if you think anyone would benefit from this newsletter, you can send them to my subscribe link.
Wishing everyone an enjoyable weekend.
Ronika