Tips for a less stressful income tax filing next year

If you took your back up paperwork to your accountant in a box or a paper bag this year, here are some things that will make life simpler and your accountants bill smaller.

Get yourself an accordian file folder and put some file folders that are labelled into that accordian folder. You should separate your invoices billed, gas bills, auto repairs, meals, advertising, insurance, memberships, etc. to make things easier to find and check before you make your trip to the accountant.

Put all of your receipts into the appropriate folders as soon as you get them.

Getting organized will save you time and money.

Time to get a GST number?

For any small business that does not reach the $30,000.00 income level, it might still be a good idea to get a GST number. If you are starting out, there are several items that are required to run a business that you pay GST on. If your GST paid out exceeds the GST you took in - you will get a GST refund from Canada Revenue.

Human hair donations recycled

Thinking about trading your long hair for a new short hair style? There are several organizations that can use the donations of human hair to make wigs for cancer patients.