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Hey, it's Cap from FitKitty Tries! I wanted to give you an update on my GST/HST Calculator for Canadians on Etsy 2.0. If you already purchased the original spreadsheet, you can redownload it to get the updated version. Today, we’ll cover some new features designed to simplify filing your business GST/HST tax return. Before we dive in, make sure you're subscribed, especially if you’re a Canadian Etsy seller. I love sharing essential information with you. Also, check out my blog at fitkittytri.com for a more detailed, self-paced exploration of this and other topics. GST/HST Calculator 2.0 Features The GST/HST Calculator 2.0 goes beyond basic tax calculations to offer a comprehensive solution for Canadian Etsy sellers. Here's a closer look at its functionalities: Automatic Tax Summary: Forget manual calculations and errors! The spreadsheet automatically calculates the total GST/HST collected based on your sales and their corresponding provincial tax rates. This sa

Hi, it's Kathy from FitKittyTries! Today, I'm bringing you a detailed webinar-style video on preparing to file your GST/HST return for your registered Canadian business. Remember, this isn't about your income tax, which is due on April 30th; this is specifically for your GST/HST return, which is due on June 15th. Understanding Your GST/HST Obligations If you're uncertain about your GST/HST registration status or whether you need to register, visit my blog for detailed guides on registration requirements and processes. Preparing for Your GST/HST Return Regardless of whether you have a bookkeeper, accountant, or you're doing it yourself, you need to: 1. Organize Receipts: Gather all receipts and sales reports. 2. Track Revenue: Keep track of all sales and the GST/HST collected. Tip: Regularly updating your records monthly or quarterly can ease the workload significantly. Reporting GST/HST Collected The first part of your GST/HST return involves reporting t

Hi, I'm Kathy. If you're new here, welcome! Today, we're diving into one of my favorite topics: making money by scanning your receipts. While there's no such thing as truly "free money," this method comes pretty close. I'm not a fan of time-consuming tasks like surveys or cashback offers that require a lot of effort. I prefer quick and easy ways to earn, like snapping photos of receipts. Let's explore how you can do this, especially if you're in Canada, where some popular apps aren't available. Best Receipt Scanning Apps for Canadians 1. Caddle Caddle is my top pick because it's the highest-paying app. Here's why I love it: - Sign-Up Bonus: Get $1 just for signing up using the link below. - Daily Surveys: Earn 5 to 25 cents per survey, which takes about 5 seconds to complete. On average, I make 10 cents per survey. - Receipt Scanning: Earn 10 to 50 cents per receipt. It takes just 5 seconds to snap a picture and upload it. N

Hey, it's Kathy from FitKitty Tries! Today, I’m addressing a common question: Should you sell to both Canadian and US customers for your print-on-demand store? As a Canadian, this question frequently arises, especially after tax season. Let's delve into the considerations, including tax obligations and how to manage your settings on Etsy to cater to specific regions. Selling to Canadian vs. US Customers: Key Considerations Tax Obligations In Canada, if you have a registered business with a GST/HST number, you must charge GST/HST on sales. Etsy expects these taxes to be included in your item prices, which can be tricky since tax rates vary from 5% to 15%. After tax season, many sellers realize they need to account for these taxes correctly. I’ve created a spreadsheet to simplify this process—just download your Etsy report and copy-paste it into the spreadsheet to sort your taxes effortlessly. Shipping Costs and Providers Shipping to Canada can be expensive, particula

Hello, it's Orit here! Welcome back to the channel with another valuable Etsy tip, specifically for Canadian sellers. Recently, one of our viewers asked about Etsy's currency conversion fees when selling in a different currency than your bank account's currency. This reminded me of our own experience when setting up our Etsy store in Canada. Our Initial Setup and the Currency Dilemma Initially, we set up our store in US Dollars, thinking it would be advantageous since the US Dollar is stronger than the Canadian Dollar. However, we soon realized the implications of this decision and decided to switch our shop currency back to Canadian Dollars. Here's why: Avoiding Etsy's 2.5% Currency Conversion Fee If your shop's currency differs from your bank account's currency, Etsy charges a 2.5% currency conversion fee on the sale amount, on top of the exchange rate. For example, if you sell in US Dollars but have a Canadian bank account, Etsy converts the c

Hello everyone and welcome back to my channel! Today, we're diving into a crucial topic for all Etsy sellers: filing your income taxes. Since 2020, I have filed my taxes using both professional tax services and platforms like QuickBooks Self-Employed and TurboTax. Filing taxes as an Etsy seller, especially if you’re involved in print-on-demand, can seem intimidating, but it’s simpler than you might think. Understanding Business Structures In my first year, I was unsure about how to prepare for taxes, whether I needed to form an LLC or could operate as a sole proprietor. In this video, I’ll address whether you need an LLC and walk you through preparing to file your income taxes. Plus, I’ve created a free tax preparation PDF checklist for you to follow along, linked in the description below. Disclaimer I’m not a tax expert. This video is for informational purposes only. I recommend consulting with a tax professional, CPA, or accountant, especially in your first year, to e

Hey, kittens! It's Cat from FitKitty Tries, and today we’re diving into a crucial topic: Canadian taxes, specifically for Etsy sellers. I live in British Columbia, and with my fiscal year ending in August, it’s time to prepare my GST return for the first time. If you're a Canadian small business owner navigating Etsy's tax policies, this guide is for you. Overview of GST Returns for Canadian Etsy Sellers Running an Etsy store in Canada can be confusing, especially when it comes to taxes. Etsy made significant changes to its tax collection policies in July 2022, complicating the process for Canadian sellers. Here’s a detailed breakdown to help you understand your tax obligations and streamline your GST return preparation. Key Changes and Requirements 1. Who Needs to Report GST?    - If your small business earns less than $30,000 in revenue annually, you don't need to collect or remit GST.    - Once your revenue exceeds $30,000, you must register for a GST num

Hello, Vintage Sterling Finds here! In today’s video, I’ll be sharing essential shipping tips. As an Etsy seller with almost 200 sales, I ship items almost daily. Whether you sell on Etsy, eBay, Amazon, or Poshmark, these tips will be relevant. Shipping Costs in Canada In Canada, tracked shipping for small items ranges from $18 to $22, which is quite expensive. Shipping to the US is slightly cheaper, typically costing between $12 and $14, but without tracking. I always offer free shipping on Etsy because it boosts your ranking in the Etsy algorithm. With over 200 sales, I’ve never had a package go missing. Shipping Process For example, if I sell a $25 sterling silver pendant, I: 1. Wrap the pendant in a piece of paper. 2. Place it in an envelope. 3. For domestic shipping, I use a 91-cent stamp, which makes shipping in Canada around 95 cents. 4. For US shipping, I use a $1.30 stamp, totaling about $1.35. For items like a sterling silver ring priced at $60, I use oversized le

Are you a new reseller on eBay, Poshmark, Etsy, or other online platforms? Shipping can be a complex process, but it's crucial for customer satisfaction and business success. Here, we'll explore the top 5 shipping mistakes beginners make and provide tips to avoid them: 1. Packing Mishaps: Finding the Balance Overpacking: Excessive packing materials like bubble wrap or boxes can inflate shipping costs and waste time. Imagine a scenario where you're shipping a lightweight t-shirt. Stuffing it in a giant box with excessive packing peanuts adds unnecessary weight and bulk, pushing you into a higher shipping cost bracket. Underpacking: Skimping on protection can damage your items during transit, leading to unhappy customers and returns. A delicate necklace sent in a flimsy envelope is a recipe for disaster. Solution: Finding the right balance is key. Choose the right size box and packing materials based on your item's weight, size, and fragility. Research co

In today's blog, I'll discuss the cost-effective methods for shipping stickers and trinkets from Canada. Canadian shipping costs can be quite high, so I'll outline the most affordable ways for your customers to receive their packages. Shipping Stickers with Letter Mail I primarily ship stickers using letter mail. If you've seen my packaging video, you'll know that I use cardstock backing from Vista Print. I place my stickers in a regular 5x7 envelope. You can ship most stickers this way within Canada, to the US, and internationally, as long as the package remains flat. Canada is fairly lenient with letter mail, but US and international shipping may have stricter requirements. As long as the mail is bendable and paper-like, it should be acceptable. To ensure your mail is thin enough, use a slot guide available at Canada Post offices. If your mail fits through the slot, it qualifies as standard letter mail. Weight is also a factor; if your mail weighs over

Hey everyone, welcome back to the blog where we simplify making money. In today's discuss, we're diving into the world of stock picking with a tool called Alpha Picks by Seeking Alpha. If you're looking to enhance your investing strategy and uncover some hidden stock gems, Alpha Picks might be worth exploring. Before you dive in, let’s review what it offers and see if it aligns with your investing goals. What is Alpha Picks? Alpha Picks is a subscription service offered by Seeking Alpha, a well-known financial website renowned for its investor community and research tools. Alpha Picks aims to help you discover high-conviction investment ideas using a combination of quantitative analysis and analyst insights. Features of Alpha Picks Weekly Stock Picks Each week, the Seeking Alpha research team curates a list of 10 to 15 stocks they believe have strong growth potential. Each pick comes with an in-depth analysis, explaining the investment thesis, financials, indust

Hello, my name is Xandre, and I frequently get asked where to buy the cheapest tickets. Over the years, I've saved hundreds, if not thousands, of dollars on tickets by using a few reliable websites. Today, I’ll share my top recommendations and experiences to help you get the best deals on tickets. Top Recommendations for Buying Cheap Tickets 1. Why TickPick is the Best Choice for Cheap Tickets If you're looking to buy tickets at the lowest possible prices without hidden fees, TickPick should be your go-to choice. Here's a detailed look at why TickPick stands out in the crowded ticket marketplace and how it can help you save money on your next purchase.  The TickPick Advantage: No Hidden Fees Transparent Pricing One of the most significant advantages of using TickPick is its no-fee pricing model. Unlike many other ticketing platforms that tack on additional fees at checkout, TickPick includes all taxes and fees in the listed price. This means that the price you s

The excitement of a concert or sports event can lead many fans to purchase tickets hastily, making them susceptible to scams. Here’s an in-depth look at how to recognize fake tickets and protect yourself from fraud. Premature Listings Spotting Premature Listings: - Timing: If tickets appear on resale sites like StubHub or SeatGeek immediately after an event is announced but before the official sale dates, be cautious. This often indicates that the tickets are speculative. - Volume: A high number of available tickets right after an announcement can signal that these tickets are not legitimate. Resellers might list non-existent tickets to gauge interest and price. What to Do: - Official Sources: Wait for tickets to be available from official sources such as the venue box office or authorized sellers. Check the official event website for the correct sale dates. Incorrect Seating Information Common Signs: - Non-Existent Rows or Sections: Fake tickets often list rows or sections