Natsai R

The CRA is not your friend. A lot of people think just paying the CRA erases their tax problems. But without filing your returns the CRA still charges you penalties and interest and they can still hit you with an arbitrary assessment. And if that arbitrary assessment says you owe more than what you've paid (which it will) the CRA can still freeze your account, garnish your wages, contact your clients and seize property.

Paying without filing just fuels the machine. Those funds would be much better invested in getting your bookkeeping caught up and taxes filed with your real numbers. That way you know and pay only what you actually owe, and stop the worst of the penalties.

And if you've fallen so far behind on your books and taxes filings that you don't know where to even start, comment PLAYBOOK and I'll send you the link to my guide that shows you how to get fully caught up in just 7 days.

The only way to protect yourself and your business from the CRA is with your bookkeeping.

If you're a Canadian business owner and you've fallen years behind on your bookkeeping comment BOOTCAMP to join my workshop where I'll give you a plan to get your books in order in just 7 days.

"I'll just keep everything in my personal account to make things easier" is the biggest lie new business owners tell themselves...and they usually learn that lesson the hard way.

Because not only is it going to be a nightmare when it comes to bookkeeping it's also going to set off alarms at CRA headquarters if your file is ever reviewed.

If you've already been running your business out of your personal account, it is what it is, we can't put the toothpaste back in the tube...but you definitely have to fix it going forward.

And the fix is simple: open a separate business account.

Even if you can't open an account or get a credit card under the actual business itself for some reason, just open another account/credit card under your name and designate that for business use only.

It'll make your bookkeeping a thousand times easier and it'll help keep the CRA out of your business.

The only way to protect yourself and your business from the CRA is with your bookkeeping.

If you're a Canadian business owner and you've fallen years behind on your bookkeeping comment CATCH UP to join my workshop where I'll give you a plan to get your books in order in just 7 days.