We are approaching the spring season. When things are becoming greener, your finances should be too. Ladies, who run businesses, this is the opportunity for you to make a financial fresh start this second quarter. Jackie shared 5 principles to help businesswomen make money work harder for them in this week’s live.
1/ Take a different approach to how you pay your income tax.
What would you say the definition of insanity is? Doing something the same all the time and expecting different results. Unfortunately, a lot of us approach to finance and tax this way. Set your intention and time to fill out your taxes early this year, you will be grateful for how easy it could be and how you can save from paying the late penalty fees.
2/ Create a system for tax-filling.
How are you keeping track of your expenses? If you do not have a system to deal with your receipts, it is now time to start investing in a system. Jackie’s recommendations are Quickbooks and Expensify. Both software services are popular for helping you manage and stay on top of your finances. If you would love to have personalized advice on how to have a system, hit us up at info@askjackie.ca to schedule a free 30-minute consultation from our team.
3/ Choose your bookkeeper carefully.
Find a bookkeeper that understands your business and knows about your industry. You should interview your bookkeeper and introduce them to the business that you are having. Doing that extra step will enable you to get more personalized advice on how to organize your information and insights on what you can deduct.
4/ Keep your accountant on top of your finances.
There are many types of consultants, including tax fillers and tax advisors. Unlike tax fillers who you only talk to twice a year to get your tax filled out and perhaps receive some advice on how to fil your tax, tax advisors will give the best advice and provide the best assistance if you communicate with them throughout a year. If you currently do not have a tax advisor, hit us up at info@askjackie.ca for free access to our list of tax advisors and receive a list of questions to interview your tax advisor.
5/ Make an appointment with yourself.
It is important to commit to having a date every month with yourself to catch up with your financial position. Use that date as an opportunity to look at your books, go through your bookkeeping software, check your credit card statements, contact your bookkeeper, evaluate your business’s finances,… This small habit will go a long way not only for when you fill your tax next year but also for the development of your business.
You are the only person who could give your financial peace and financial confidence. If you are ready to be potential to your finances, feel free to reach out to our team at info@askjackie.ca for our assistance.
More Financial News & Events
Living your best life: Striking the balance between enjoying life now or enjoying it later
Sep
Living Your Best Life: Client Testimonials and Insights
Sep
Unpacking FOMO: Understanding biases, emotions and financial attitudes
Aug
How to overcome FOMO to not overspend this summer
Aug
How to Overcome FOMO on Investments
Aug
What behaviours undermine your ability to build wealth
Jul
How Do You Loose Wealth
Jul
What Does Wealth Building Mean to Our Clients?
Jul
Estate Planning: What You Can Learn From the Mistakes of Celebrities
Jun
Estate Planning For Lawyers
Jun
Estate Planning for Business Owners
Jun
Managing growth for business owners
May
Are you a lawyer with questions on how to grow your investments?
May
Cultivating a growth mindset around money
May
Why financial growth can be deceptive
May
Home and Financial Document Organization
Apr
Business owners, it’s time to start spring cleaning.
Apr
Spring Cleaning Your Finances
Apr
Unique financial challenges female lawyers face
Mar
Taking Action: A Woman’s Perspective on Deciding To Tackle Her Finances
Mar
Is there a gap in your income protection?
Mar
Knowing the difference between Tax Filer and Tax Advisor
Mar
Conquering Women’s Fears Around Finances
Mar
Trends in Family Law
Feb
PART 2: Financial Conversations Couples Need To Have at Different Life Stages
Feb
Financial Conversations Couples Need To Have at Different Life Stages
Feb
Disruption and Reinvention: Starting a Second Career in your Forties
Jan
How to create a strong financial fortress during market downturns
Jan
Creating a Financial Vision Board for 2023
Jan
5 Tips to set yourself up For Financial Success in 2023
Jan
Year-end Donation strategies
Dec
Year-end tax planning
Dec
Getting clients organized for 2023
Combating Quiet Spending
Nov
Our Client’s Journey to Building Financial Confidence
Nov
How Working with an Advisor can Improve your Confidence
Nov
A letter from the CEO’s desk
Nov
Getting Psychologically Ready for Retirement
Oct
Retirement Planning for Business Owners
Oct
Top Issues Clients Face with Retirement
Oct
What Risk Means for your Investment Portfolio
Oct
Finding Investment Opportunities in the Market
Sep
Behind The Scenes On Helping Our Clients Choose Investments
Sep
How to Deal with Debts Amidst Rising Costs
Sep
Buying and Selling Homes as Prices Fall
Aug
Parenting and Back to School
Aug
Dealing with the high cost of living
Aug
Ask Team Jackie Porter Series – Financial Planning with Jin Lee
Aug
Budgeting for Home Renovations
Jul
Mental Health and Finances
Jul