Some provinces have chosen to participate in the HST, which pairs the GST with the PST to create one tax overall. These regions include New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, Labrador, and Ontario. Therefore, if your small business resides in one of these areas, you ...
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Add the national and provincial tax rates for the type of item that you purchased, or look up the HST on your provincial government's website. This is the total tax rate. If you live in a province with no sales tax, the total rate is 5 percent. Express the total tax rate as a de...
Good accounting practices help you track how your business makes and spends money, calculate taxes accurately, and file returns on time. Understanding your finances lets you make smarter decisions to increase your profits. This guide covers everything you need to know about smallbusiness acco...
for a total of 18.3% annualized rate in the scenario where the stock is not called away. Any upside above $19 would be lost if the stock rises there and is called away, but HST shares would have to climb 3.1% from current levels for that to occur, meaning that in the scenario where...
Tax Stripe Tax lets you calculate, collect, and report tax on global payments with a single integration. Know where to register, automatically collect the right amount of tax, and access the reports you need to file returns. Learn more ...
So, the total cost of your jeans, including sales tax, would be $53. Example 2: Restaurant Meal You go out for dinner at a restaurant and order a meal that costs $30. The sales tax rate in your area is 7%. To calculate the sales tax: ...
A cash flow statement tracks how cash is moving into and out of your business over a certain period of time, such as a month or a quarter. It shows where cash is coming from and where you are spending money. You can use your cash flow statement to calculate cash flow and determine ...
Tax Stripe Tax lets you calculate, collect, and report tax on global payments with a single integration. Know where to register, automatically collect the right amount of tax, and access the reports you need to file returns. Learn more ...
QuickBooks uses sales tax items to calculate the sales tax on transactions and associate the tax with the correct sales tax agency (e.g. Receiver General). Then, the calculated sales tax tracks to the liability account for that agency (e.g. GST/HST Payable). Add sales ...