If you’re 1.3 million small businesses in Canada, chances are you have run into the challenge of trying to pay your businesses taxes using time-consuming and inconvenient traditional methods such as wire transfer, cheque, pre-authorized debit, or in-person at your bank - as not every bank or credit union offers this service to you. While this may be surprising to some, to other business owners it’s an unfortunate reality leading them to scramble to find an alternative payment method to pay their business taxes each year. Luckily, in Canada there are online payment solutions like PaySimply that will help business owners simplify how and where they pay their taxes.
Businesses with fewer than 99 employees make up about 98% of all businesses in Canada, with signs of continuous growth. If your business falls into this category, tax time can be a confusing one to navigate. Here are 3 tips to help you improve the way you pay your business taxes.
- Get organized: While at first it may seem to take more time then it’s worth, making sure that you’ve kept all your invoices, receipts, payroll and other documents in a logical, easy to navigate system will help make tax time easier for you when it arrives each year. There are several tools out there to help business owners like you get and keep organized, and it’s always a good investment to look into the options available for your business to help you do just that!
- Download a mobile app to help you remember what’s due and when: As a business owner, you have a lot of things that need to be done each and every day and it can be hard to remember deadlines of when your payments or taxes are due. By utilizing mobile apps, you can help keep your business organized and keep track of what tax payments are due and when. Some apps even allow you to set up recurring payments to ensure that you’re not in jeopardy of missing payments.
- Use an online payment solution: By using an online payment solution like PaySimply, the guess work is often removed from the process. With simple interfaces that are easy to understand within a secured environment, and having the ability to pay your taxes in multiple different ways, these tools are the epitome of convenience for small businesses.
What payment method choices are there in online tools like these? Well, PaySimply offers businesses the option to pay with: credit card, Interac e-Transfer, PayPal, or in-person with cash or debit at any Canada Post nationwide. PaySimply is also available as a mobile app that can help you with everything mentioned in tip number two!
It’s easy to get started with PaySimply to pay your business taxes.