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Postal Strike possible, Minimize cash flow issues

It’s been a long while since I blogged, and I am hoping to get back to it this summer.  I love to write, but sometimes life gets in the way.

You may have seen the news that our postal services may get disrupted next week.  There is the possibility for either a strike or a lockout.  This has the potential to cause serious issues with cash flow for small business owners.  Be proactive with the following steps:

  1. Offer alternative payment options to cheques.  I have started placing a sticker on all my invoices (mailed, emailed and hand delivered) advising client’s that in lieu of mailing a cheque, they can call/fax/email me with their visa or mastercard info or pay by email transfer.  Don’t take credit cards yet, look at some of the inexpensive merchant service providers such as Square.
  2. Prepare those monthly invoices now and get them in the mail, or consider emailing invoices rather than mailing them.
  3. Get in the habit of delivering your invoice with the completed job.  Frequently, clients will cut me a cheque when I deliver the job.
  4. If you use Canada Post to courier out items, you may have to use an alternative like FedEx, Purolator or UPS.  Make sure to reflect these additional costs in your shipping fee.
  5. Personally deliver jobs.  Gives you a chance to get facetime with your clients and allow discussion about additional services/items you could provide.

Hoping that this contract issue gets resolved before a strike or lockout occurs.

When CRA sends you a letter

It’s that time of year again, when the letters from Canada Revenue Agency come out to verify deductions made on those tax returns that were filed last spring.  We got two this week, my son Kevan got one on Tuesday auditing his rent receipts.  Today’s mail brings one for my husband Brook, auditing our charitable… Keep Reading …

CRA Spam phone calls threatening lawsuits

Beware of new telephone scams Ottawa, Ontario, June 10, 2015… The Canada Revenue Agency (CRA) is noting an increase in telephone scams where the caller claims to be from the CRA but is not, and is asking Canadians to beware—these calls are fraudulent and could result in identity and financial theft. Some recent telephone scams… Keep Reading …

More Fraudulent CRA Spam emails

Got this from a client today.  Unfortunately, she clicked the link, thus we get page 2, which shows they were phishing for credit card info.  Remember, CRA does not correspond by email.  If you get an email from CRA, delete immediately. Keep Reading …

Another Scam – E-transfer from CRA

Got an email from a client today asking if this was a legitimate email from Canada Revenue Agency (CRA).  It is not, and you should not click on the link (I removed it.).  CRA does not give refunds through interact e-transfer.  Refunds are only provided by cheque or direct deposit.   CANADA REVENUE AGENCY has… Keep Reading …

Computer trouble at Canada Revenue Agency

Online access and efiling capabilities have been temporary suspended at Canada Revenue Agency due to internet security concerns.  For updates check the CRA home page at http://www.cra-arc.gc.ca/menu-e.html Here is the current status direct from the CRA home page: Statement from the Canada Revenue Agency The Canada Revenue Agency (CRA) places first priority on ensuring the… Keep Reading …

Tuesday Tax Tips – Week 2 – Family Caregiver Amount

The second in a series of weekly blog posts till the end of April with some tax items you may not be aware of. If you are supporting a dependent who is physically or mentally challenged, you may be eligible to claim the Caregiver amount. From the Canada Revenue Agency(CRA) website:  The family caregiver amount (FCA) helps Canadians… Keep Reading …