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Businesses with sales over $30,000 CDN must register for a business number and charge 7% GST on their services or products, (6% beginning July 1, 2006). Just like the provincial retail sales tax (PST), to be compliant with the government, you must report and remit these collections over to the goverment. About this extra 7% money - it is “trust funds” - this money is not your extra profit. It’s money you collected as an agent or on behalf of the government and believe me .. they want it.

The good news, is that everybody else is also charging you GST, and you are allowed to deduct these GST payouts, or “Input Tax Credits” (GST ITC’s), to offset the amout that you have to remit. It is for this basic reason that bookkeepers (and business owners) and ME … are quite conscious to be sure to correctly separate the GST ITC from the expense amount, in order to maximize the refund or minimize how much Net GST the client has to pay.

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I wrote a post on May 25, 2006 about ClustrMaps. I had installed the code on my PetLvr site on May 19, 2006 for the following reason:

* I wanted to know if the whole world is reading PetLvr.com - [The Blog], and if it truly is “A Website For All Earthlings, Who Love Animals” .. as my Tagline suggests. You can visit that site to see if this is true or not, as the same graphic is in its footer is continually to obtain data as time goes on.

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Listen .. trust your HART …

If you don’t have the money to pay your income taxes, you should still make an effort to file your income tax return ON TIME. This way, it’s only a “collection issue” and you will only be subject to interest on the arrears balances owing. If you file late or after the due date (April 30th for most individuals and June 15th for self-employed individuals), you will have to pay a flat percentage penalty of the balance you owe plus a flat percentage penalty of the balance owing is added for every month you are late. If you’re not only late, but there was a request from Canada Revenue Agency to file your tax return .. generally these penalty rates are doubled!

Some guy once said “The difference between tax avoidance and tax evasion is the thickness of a prison wall.”. There are legal ways to minimize your income tax bill with planning and advice of your professional accountant or income tax preparer .. but keep in mind that there are also laws in place to prevent the avoidance of income taxes. Now, evasion - is much worse than being a deadbeat, because in addition to the penalties and interest that you will be charged (if caught) .. it’s also a criminal offense.

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This was fun ….

I started it over on the call HART crazy .. titled … Crazy Art - By Me!

Watch Me Draw The Above Picture

There are also some cool pictures on there - all you have to do is view gallery, skip to the end, then view another. When you see something you like .. click skip to beginning. You might find some interesting ones .. like this one by somebody else…

YES .. This site should be added to HART’s Bookmarks, in my Amusing Stuff section!

http://artpad.art.com/gallery/

PS:

If you try the above .. you can save and email your picture to a friend … I would be happy to considered your ‘friend’ and take a look at your picture, in fact I will link your picture in this blog entry for all to see! Send your link to …. hart (at) 1800HART (dot) com

Heads up from: The Blog Herald

TIP #1 - Do NOT hire lawyers who do stuff like this …

Read BoingBoing’s blog ..
Hideous company sends Boing Boing a pre-emptive nastygram

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Yes. That’s a good question. How DO you do that?

I have been trying to write a “Bookkeeping and Accounting Tips” E-Book since 2003. I have some software and other resources on how to actually create an E-Book from a word processor and actually have a partial draft online - but .. then what? How do I publish it? How do I market it? How come it sucks so much?

I can honestly say that despite being online since 1995, I do NOT know how to publish E-Books. Mind you, I have read many E-Books and even purchased E-Books online. The reason would be to learn how the other people “did it” … How they “got my attention enough that I would even consider buying their E-Book”.

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Actually, that’s what the newsletter said ….

I must have sent the BDC another Bank or Mortgage Confirmation, because today I received their Summer 2006 Newsletter (aka Junk Mail) …. It’s nice when bankers think you can bring them more traffic .. Actually - you know what? I hope I can do that .. It’s always good to network with bankers when you are in business.

NEW BDC PUBLICATION:

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Easton Ellsworth first came up with the concept of Blogtipping and we’re trying to get this into a viral internet phenomenom … to be repeated on the 1st of every month … Yes .. I know it’s June 2, 2006 and I’m late - again.

As Easton said
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I have many clients who have automated payroll services. By using the word “automated”, I mean specifically:

* Companies who use payroll services like Ceridian Canada etc.
* Companies who have accounting software with a Payroll Module and pay for periodic and/or annual updates

But, I also have many clients that are just single owner/shareholders or small businesses that only have 2-5 employees and find that that it is too costly to keep paying for an updated payroll service or hire a company like Ceridian.

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I added another PowerPoint Slideshow to my existing blog entry .. HERE .. in case you are interested in seeing a slideshow about the Top Ten Worst Women Drivers … (pictures to prove it!)