If you own a small business, you know it's all about three things: your passion, your people, and… your paperwork. Everyone seems to want something from you: your registrations, tax returns, payroll slips, and the list goes on! So many things to consider, so little time. So how can you make your business life easier? Go online and…
• Research: Learn what you need to do for each level of government, and what it can do for you. Go to www.canadabusiness.ca. Do you have an online business? Check out www.cra.gc.ca/ecomm. Watch videos and webinars on common business questions, like payroll and preparing slips, at www.cra.gc.ca/videogallery. If you're trying to figure out what permits and licences you need, check out www.bizpal.ca.
• Get organized: Your business calendar is full, and it can be difficult to make time during business hours to take care of your administrative tasks. So go to one place to access online services, any time, at your convenience: www.cra.gc.ca/businessonline.
• Improve your bottom line: Increase your efficiency by signing up for online services. There are lots of options, like the many online services on the Canada Revenue Agency (CRA) Web site. The CRA's My Business Account is an online tool that can help you do a variety of tasks easily: Do you want one of your employees to handle your business accounts? Authorize them using the Group ID feature in Represent a Client. Request this feature and more by signing up at www.cra.gc.ca/mybusinessaccount.
• Get the scoop: Keep up to date on changes to tax rules, or be in the know about business credits that might benefit you. Sign up for electronic updates and mailing lists at www.cra.gc.ca/lists. For example, did you know that the refundable hiring credit for small business (HCSB) has been extended for the 2013 tax year? Or that now you can request direct deposit for GST/HST, Payroll, and Corporation Income tax all on one new form, RC366, which you can find at www.cra.gc.ca/directdeposit?
• Know your rights: Learn what kind of service you can expect as a business owner from your tax department. Check out their Taxpayer Bill of Rights at www.cra.gc.ca/rights.
Go paperless: You can now receive your CRA business related correspondence online. When you register for this new service, the CRA will no longer print and mail most correspondence items to you. Instead, an email notification will advise you when you have mail to view in your secure online My Business Account.
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