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More Money Podcast
397 Taxes, Write-Offs and Running a Small Business - CPA, Course Creator & Speaker, Jami Monte
Apr 17, 2024
Jami Monte, CPA and founder of Chill Books, is here to demystify the world of small business taxes in Canada. She shares crucial updates for 2023 tax filings and dives into the often-overlooked business write-offs, like cell phone bills and home office deductions. Jami also discusses common pitfalls in sales tax registration, especially for content creators, stressing the importance of understanding tax obligations. With practical insights on bookkeeping and financial management, she empowers self-employed individuals to navigate their finances confidently.
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Quick takeaways
- Effective tax preparation and organized financial documentation are crucial for small business owners to avoid last-minute stress during filing season.
- Staying updated on changing tax obligations, such as new brackets and the end of COVID-related credits, is essential for compliance.
Deep dives
Early Tax Season Preparation
Tax season highlights the urgency for individuals to complete their personal income taxes before the deadline. With rising questions around tax obligations, especially for small business owners, understanding these processes is essential. The podcast emphasizes that timely tax preparation can prevent last-minute stress, especially for solopreneurs who may not have organized their records throughout the year. As the deadline approaches, individuals should prioritize their financial documentation to facilitate a smoother filing experience.
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Discover
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