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Do Your Own Books – You Are Responsible

You’re responsible for paying your taxes.

Seems simple, right?  Nobody else can be responsible, so it has to be you.

Unfortunately this means you better stay on top of how much you’ve made and how much you owe.  The nice folks at the IRS and CRA (Canada Revenue Agency) — and in my experience, they’re all actually very nice — will try to help you, but if you truly have no clue, then they will assess penalties.  And interest.  And interest on the penalties and interest that they’ve already assessed, and then interest on that.

“That’s why I hire a bookkeeper!” you object.  Calm down, please.  We’re having a reasonable discussion here.

Your bookkeeper is a wonderful person who helps you out of a jam every year, by turning your messy folder full of receipts, scraps, and stubs into financial statements.  Your bookkeeper, however, is not responsible for paying your taxes.  Your bookkeeper is not on the hook for the taxes, penalty, and interest you have incurred and failed to pay.  Do you remember who is responsible?

You.  You are responsible.

So do your own books.

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