Tax Tips for Business Owners
For many business owners in Canada, the World Wide Web is a vital part of a company’s success. Whether it’s staying in touch with customers or keeping an eye on the competition. Recognizing this, the Canada Revenue Agency is supporting Canadian businesses by continually improving its online service called My Business Account. Daniel Alarie is with the Canada Revenue Agency.
Daniel Alarie: Money and business is hard work and the Canada Revenue Agency wants to make the tax and the business as simple as possible. My Business Account allows business owners to access tax information quickly and securely. And the new features we’ve added to this online service are designed to provide business owners with even greater access to the important information they need.
My Business Account allows users to access a multitude of electronic services for businesses with one user ID and one password.
Daniel Alarie An exciting new feature of My Business Account allows business owners to authorize another individual; whether that’s an employee, an account, or anyone else to have access to their business account information.
Once authorized, that individual can view the business account information by using the represented client service found on the main page of the Canada Revenue Agency website.
Business owners van view their account balance as well as the detailed transactions that make up that balance and now business owners have improved access information they need such as their account information with no disclosure Workers Compensation Board.
To access My Business Account, business owners need to identify themselves with the Canada Revenue Agency and register for the Government of Canada E-pass.
Odette Cheff Accessing My Business Account for the first time was easy. I filled in my information including my business number on the Canada Revenue Agency secured website, registered for my E-pass and received my CRA security code in the mail just a few days later. I entered the code and immediately add access to my business information.
With My Business Account, I can view my account balances, make online request, and file returns and more. Now that I’m using My Business Account, I wonder how I ever got along without it.
For more information or to sign up for My Business account, go to cra.gc.ca/MyBusinessAccount. Cherry Demitaco Reporting.
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