JTM Business Solutions

You call them contractors.
CRA might deem them employees. 👀

The description on the invoice doesn't determine the classification.

If you control when, where, and how someone does their work, CRA may consider them an employee regardless of what your agreement says.

Which can mean owing CPP, EI, and back remittances you weren't planning for.

Misclassifying workers is one of the most common — and costly — mistakes we see small businesses make.

Worth a second look? We think so.

Today we’re celebrating Pamela's 5-year anniversary at JTM ✨

Her kindness, positivity, and genuine interest in others have become such an important part of our culture. Whether she’s helping clients or our team behind the scenes, sharing encouragement, or making someone’s day a little brighter, Pamela brings warmth into every room she’s in.

One thing about her? She truly believes your mindset matters. She reminds us often that the thoughts we focus on shape the way we experience life and business — and that a little positivity can go a long way.

Thank you, Pamela, for 5 wonderful years of dedication, positivity, and heart. 🤍

Starting a business takes courage, building a business takes knowledge and hard work. The point is, business people are generally strong intelligent people.

Most business owners know they should look at their books.

They just... don't.

Financial avoidance is a very real, very human response.
More often than not this is linked to fear.

Fear of what the numbers might say or how far behind things have gotten.

So, the receipts were piling up and problem would grow.

The relief they experience from finally knowing (even when it's uncomfortable) is almost always better than the dread of not knowing at all.

When you're ready, we'll be here to help.
No judgment. Just clarity and a plan forward.

You can have the ability to understand your finances.
You can have the motivation to look at them.

But if your attitude toward your numbers is dread, that shapes everything that follows.

Right now, how do you feel about your financials? In just one word, name that feeling.

Quick question. When did you last reconcile your books? 🔍

If your answer is "my accountant does it at year-end"...

You're flying blind for up to 12 months.

Monthly reconciliation isn't just an accounting task. It's how you catch:

→ Bank errors
→ Duplicate charges
→ Missing invoices
→ Unusual transactions — before they become real problems

By the time you find these things at year-end, the damage is already done.

Once a year is too late.

If you'd like to know what a monthly review could catch in your books, we're happy to take a look.

If your personal and business expenses are running through the same account, this not only creates extra work for both you and our bookkeeper, it can potentially create issues down the road that can be costly.

Separating your accounts is one of the simplest things you can do for your business.

It's also one of the most commonly overlooked.

By keeping business and personal intertwined:

→ You can't see your true business expenses
→ A CRA audit becomes significantly more complicated

If you've been meaning to clean this up but haven't gotten around to it, this is your gentle reminder.

Let’s sort it out together.

Did you know that you may be accruing interest on amounts you didn’t even know you owed? 👀

With CRA’s move to online mail, many business owners are not aware of assessment and amounts owing.

For example, if your payroll remittances are even one day late, penalties kick in automatically.
Penalty
· 3% if the amount is 1 to 3 days late
· 5% if it is 4 or 5 days late
· 7% if it is 6 or 7 days late
· 10% if it is more than 7 days late, or if no amount is remitted,
· 20% if this is the second or subsequent time you are assessed this penalty in a calendar year, if the failures were made knowingly or under circumstances of gross negligence.

And if your books aren't up-to-date... you might not know you're behind until the notice arrives.

By then? The clock has already been running.

Payroll deadlines are one of those things that feel manageable until they're not.

If you want peace of mind that everything is on track, we're here it.



Source: canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/remitting-source-deductions/how-when-remit-due-dates.html

Growth is exciting.

But before you hire more staff, take on more clients, or open a second location, there's one question worth asking:

Do your numbers support it?

It starts with understanding what's working now.
- your margin
- your break-even point
- your cash flow capacity

A few things to review before expanding:
- Can your current revenue support the new costs?
- Will cash flow handle slower payments or seasonal dips?
- Are your systems ready to manage more transactions and reporting?

Bigger isn't always better.
Better is better.

If you want to grow, let's make sure the foundation is solid first.

We'd love to help you do that.

A long weekend at the start of spring feels like a fresh start. 🌱

Sometimes the best reset is simply stepping away for a bit.

Rest isn’t a reward. It’s part of staying well.

If stepping away feels hard because things don’t feel fully handled, a small habit can help:

• Upload receipts as you go
• Reconcile your accounts monthly
• Use tools like QuickBooks Online to keep things organized

As Certified QuickBooks ProAdvisors, we help businesses set up simple systems that keep their books current and easier to manage year-round.

Or bet yet, we can handle your books for you.

Your business should support your life, not consume it.

We hope you get a chance to enjoy the long weekend. ☀️

Here’s a money tip for kids 💡
Try the 3 Jar method.

Instead of a piggy bank, set up clear jars labeled Save, Spend, and Share so kids can watch their savings grow.

Lots of us learned our first lessons about money from our moms. ❤️

Saving coins in piggy banks.
Setting up lemonade stands.
Counting allowance at the kitchen table.

Those early lessons influence how we think about money, responsibility, and work.

What’s the best money tip you learned as a kid? Share it below 👇

Here’s to celebrating, thanking, and remembering all the moms and mother figures out there for their love, support, and wisdom. 🌸

Happy Mother’s Day from all of us at JTM Business Solutions!