Let’s face it, dealing with the Canada Revenue Agency can be a frustrating, time consuming and even intimidating task for small business owners. Finding the right department to talk to, the complicated and confusing menu system, the near impossible task of getting a real person to pick up the phone and the feeling that they’re trying to score a quick win in a game of accounting terminology bingo when you eventually do – these are all things that you can look forward to when calling Canada Revenue Agency!
Did you know that you can register your bookkeeper so that they can deal with the CRA on your behalf?
Why You Should Let Your Bookkeeper Talk to CRA
When you’re running a small business, you’re often wearing many different hats, everything from pounding the pavement looking for new business opportunities to rolling up your sleeves and getting the work done … many of us even wear the hat of Chief Bottlewasher, too!
Also, the CRA can be quite unforgiving if you don’t submit all of the necessary filings on time and in full compliance. This can include source deductions for payroll, GST/HST returns and year-end tax returns. Even if you miss the filing deadline by a few days the Canada Revenue Agency can impose stiff fines and interest charges. They can also issue penalties if you file on time but not in complete compliance.
These are some of the main reasons why small business owners hire a bookkeeper – a good bookkeeper can bring a lot of expertise and experience and can help you stay in good standing with the Canada Revenue Agency. This can save small business owners a lot of time – and let’s face it, time is one of the most precious things that we have.
How to Set Up Allowing Your Bookkeeper Talk to CRA
Before your bookkeeper can deal with the CRA on your behalf you need to provide your consent.
For incorporated and sole proprietorship businesses, you need to complete and submit form RC59, which is a Business Consent form. It’s a short two-page form where, as a business owner, you give your consent for your bookkeeper to deal with Canada Revenue Agency on financial issues pertaining to your business.
There is a personal version of this form, form T1013, that gives the same consent but for your personal finances. Small business owners might consider filing this form, too, if your business bookkeeper helps you file personal income taxes.
If you are working with an accountant you might also consider completing these two forms for your accountant so they can also deal with the CRA on behalf of your business.
Let Simply Bookkeeping1 Help …
Owning and operating a small business probably keeps you busy seven days a week, 52 weeks a year. And there are so many rules and regulations that you must follow carefully in order to not feel the wrath of the CRA. Simply Bookkeeping1 provides professional bookkeeping services at a reasonable cost. For many of our solopreneur and small business clients we only need to work a few hours a week to keep their books up to date and in order.
If you would like to benefit from our expertise and experience in keeping your business compliant with the Canada Revenue Agency, please visit our website at www.simplybookkeeping1.com or contact Michele Hyde by phone at (647) 668 – 9363 or by email at email@example.com.
Have Your Say
We’d love to hear what you have to say about dealing with the CRA. Please leave a comment below or share this article with your family and friends using the social media sharing buttons!