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Vivian Ayala CPA INDEX Businesses using Quick Method for reporting HST Instructions and guidance Worksheet to summarize self-employed income and expenses Worksheet to provide details of income Page

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Determine the type of business you want to fill out using the quick method.

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Start by entering the basic details of the business, such as the name, address, and contact information.

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What is businesses using quick method?

Quick method is a simplified accounting method that small businesses can use to calculate their Goods and Services Tax/Harmonized Sales Tax (GST/HST) remittance.

Who is required to file businesses using quick method?

Small businesses with annual taxable sales of $400,000 or less are eligible to use the quick method.

How to fill out businesses using quick method?

To fill out the Quick Method, businesses need to calculate their GST/HST remittance based on a percentage applied to their total taxable sales for the reporting period.

What is the purpose of businesses using quick method?

The purpose of the quick method is to simplify the calculation and remittance of GST/HST for small businesses.

What information must be reported on businesses using quick method?

Businesses using the quick method must report their total taxable sales, GST/HST collected, and the remittance amount calculated using the quick method percentage.

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